A Turkish Steel Industry Assessment Mission will visit Pakistan in early March this year to have first-hand knowledge about the available business and investment opportunities. Kerim Dilber, the head of two-member Turkish delegation revealed this during a meeting with the Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Kashif Younis Meher here on Wednesday.
LCCI former Executive Committee Members Javaid Iqbal Mughal, Mian Zahid Javaid and Turkish delegate Emine Aksu also spoke on the occasion. Kerim Dilber said that during their stay in Pakistan, the members of the Assessment Mission would hold meetings with people belonging to steel industry for initiating joint ventures in Pakistan. He said a second Turkish delegation related from the steel industry would also visit Pakistan as soon as the first delegation completed its findings.
Giving a briefing about the Turkish steel sector, Kerim Dilber said that Turkey had become the 10th biggest producer globally and second largest steel producer in Europe. In fact, Turkey was the third fastest growing steel producer in the world between the period 2001 and 2010 after China and India. Steel production in Turkey has increased significantly since 2001, growing from 15 million tons in 2001 to 29.1 million tons in 2010. Within the five years period between 2005-2010, per capita crude steel consumption in Turkey has increased to 340 kg, and is expected to continue to grow in the medium and long term.
In addition to the strong domestic demand and dynamic steel consuming industries, Turkey's well placed geographical position also supports exports and thus production. He said Turkey was a major player in world steel production and export. The country has a proven track record of producing quality products to meet market needs of investing in and expanding flat products production capacity and developing new technologies. Turkish steel industry has seen considerable innovations over the past two decades, reflecting a commitment to respond to evaluations in world steel markets.
In the first seven months of 2011, global output reached 886.8 million tons up by 8.26 percent on the same period of 2010. Thus Turkey realised the biggest increase with 21 percent among the top steel producers of world. Today all Turkish steelmakers continue to pursue technological developments to enhance the long term viability of the industry in the global market place.
Speaking on the occasion, LCCI Senior Vice President Kashif Younis Meher said that collaboration between the steel sectors of the two brotherly countries could create a win-win situation on three counts. It would help Pakistani businessmen to have access to European market besides enabling the Turkish counterparts to get share in Central Asian States and Afghanistan market. While, he said, the transfer of Turkish technology would further strengthen the local steel sector that is presently being dominated by the Indian technology. Kashif Younis Meher said the LCCI would extend every possible help to Turkish businessmen in their pursuit to expand business activities.
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