ISLAMABAD: Pakistan and Turkey held discussions on Thursday regarding the need to revitalize their preferential trade agreement, aiming to address existing challenges and unlock the business potential between the two countries.
The meeting, attended by Pakistan’s Commerce Minister Jam Kamal Khan and Turkish Trade Minister Prof Dr. Omer Bolat, explored ways to strengthen the D8 Preferential Agreement, with a focus on enhancing trade among member countries. Minister Bolat acknowledged that while Turkish investors in Pakistan faced some challenges, many were eager to expand their investments.
The Turkish delegation revealed plans to sign 21 agreements during their visit, covering key sectors such as services, tourism, education, IT, defense, and infrastructure. Minister Kamal reaffirmed Pakistan’s commitment to facilitating foreign investment and emphasized efforts to improve the ease of doing business in the country.
The two ministers discussed the role of the Special Investment Facilitation Council (SIFC) in ensuring a smooth investment process for Turkish companies. Kamal highlighted the growing economic cooperation between the two nations, pointing to Turkish investments in infrastructure, manufacturing, energy, transport, and municipal services.
In addition, Minister Kamal proposed organizing a “Made in Pakistan” exhibition in Turkey, aimed at showcasing Pakistani products to Turkish businesses. He referenced the success of similar trade exhibitions in Saudi Arabia, Uzbekistan, and Ethiopia, noting that Turkey’s strategic location makes it an ideal trade hub for Pakistan.
Minister Bolat expressed his commitment to fostering reciprocal trade fairs and supporting the growth of Pakistani exports, particularly Basmati rice, which has not been fully utilized under current agreements. He also highlighted Turkey’s flourishing health tourism sector, which now attracts significant foreign patients.
The two sides also discussed potential collaboration in healthcare, with Kamal inviting Turkey to participate in Pakistan’s healthcare and industrial expo in April. Both ministers noted opportunities for joint ventures in medical technology and hospital infrastructure that could benefit both countries.
On defense cooperation, Minister Bolat shared that Malaysia and Indonesia had placed substantial orders for Turkish defense equipment. He reaffirmed Turkey’s commitment to working closely with Pakistan on defense projects, particularly in joint production and technology transfer.
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