ICC President takes initiative to reinforce trade with Pakistan

30 Jul '08

2 min read

During a meeting with Karachi Chamber of Commerce and Industry (KCCI) on July 28, President of the Istanbul Chamber of Commerce (ICC), Murat Yalcintas, expressed hope that a two way trade between Pakistan and Turkey will exceed US $1 billion in the coming years.

Mr Murat also pointed out that bilateral trade, which stood at $200 million some four years ago, has gradually increased to $800 million now marking a phenomenal growth. This only goes to show that with more frequent exchange of trade and rapid transfer of investment information, trade between the two countries is likely to thrive unabated.

Although the two countries share a cordial relation, it does not reflect in the two-way trade. Turkey is essentially seeking to strengthen its trade with South region countries in general and Pakistan in particular.

Pakistan has been invited to participate in the 12th MUSIAD International Trade Fair scheduled to be held in Istanbul from October 23 to 26, 2008. Besides, the Business community of Pakistan has also been invited to participate in the 12th International Business Forum (IBF) Congress to be held from October 22 to 23 in Istanbul.

The basic idea behind IBF is to establish global business networking among muslim nations and provide a platform to bolster trade and mutual investment relationships among Muslim entrepreneurs across the globe.

Mr Murat further added that this year, the IBF is expected to witness a record high participation of 2,000 businessmen from across 60 countries and some 170,000 vistors.

Mr Shamin Ahmed Shamsi, KCCI President on his part offered to collaborate in sphere of textile machinery and chemicals since Turkey has an expertise in these sectors and it could help Pakistan develop the same through joint ventures.

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