Turkish entrepreneurs eye Pakistan a potential market

ISLAMABAD: A two-member Turkish delegation of steel sector visited Islamabad Chamber of Commerce and Industry (ICCI and exchanged views with Pakistani counterparts for exploring opportunities of mutual cooperation. Mr. Cezmi BESOGUL, Commercial Counsellor of Turkish Embassy also accompanied the delegation.

The delegates said that they have come to Pakistan to explore the potential of Pakistani market for import and export of steel products. They said that Turkey was producing more than 24 million tons of steel per annum and was exporting its steel products of around US$ 10 billion annually to about 136 countries of the world, mainly to Middle East. They said that they are also interested to collaborate with Pakistan in steel sector as the two countries have good potential of mutual cooperation in this area.

They said both countries have tremendous bilateral business potential that still remains untapped and needs to be realized by maximizing the involvement of private sectors of Pakistan and Turkey. The delegates said that in the first phase, they will explore market potential in Pakistan while in the second phase a big Turkish delegation of steel sector will visit Pakistan in the first week of March 2012 to look for establishing joint ventures with Pakistani counterparts.

Speaking on the occasion, Yassar Sakhi Butt, President, Islamabad Chamber of Commerce & Industry said that Pakistan and Turkey enjoy historic cordial relations. He said Turkey is a strategic partner of Pakistan and both nations are maintaining extensive commercial, strategic and military cooperation.

He said that Turkey has advanced technology in steel sector, so it should support Pakistan by transferring latest technology of steel manufacturing to our country. He said in coming times, Pakistan plans to build big and small dams, high rise buildings and other related infrastructure. Therefore, by making direct investment and entering into joint ventures in Pakistan, Turkish entrepreneurs can earn huge profits.

Yassar Sakhi Butt also highlighted the tremendous investment opportunities available in the power, oil & gas, mining, textile, agriculture and financial sector and invited Turkish investors to take advantage of these opportunities. He said that exchange of business delegations could be the best way of exploring areas of common interest.

He said that ICCI intends to take a business delegation to Turkey in last week of March 2012 and desired that the visiting delegates should help it by arranging its B2B meeting with Turkish counterparts.

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