Preferential Trade agreement (PTA) is likely to be signed between Pakistan and Turkey next year, Consul General of Turkey, Murat M Onart, informed business community on Monday evening. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he expressed concern over meager trade between the two brotherly Muslim countries and expressed hope that after singing PTA two-way trade will be increased substantially.
Replying a question of Turkish expertise in mineral sectors, the Consul General said present prevailing conditions in Balocistan did not permit Turkey to send its experts to assist Pakistan in mineral sector. He emphasised the need of developing transport infrastructure to boost two-way trade which need heavy investment. The Consul General also expressed that without developing infrastructure two-way trade cannot be increased even if liberalised trade and visa, tax concession and other facilities. Replying another question, he said last economic crisis shows that regional trade is essential.
Former President KCCI, Majid Aziz sought the Consul General's help to approach Turkish government and ask them to provide technical expertise to develop Pakistan's mineral sector. President KCCI, Mian Abrar Ahmed, said that Turkey can take advantage while establishing production base in Pakistan and utilise the Gwadar Port and Pakistan railway and tap the huge regional market. He said that the trade volume of two countries has an increasing trend with a regular surplus in favour of Pakistan since 2000. It has been recorded 998 million dollars in 2010 of which 750 million dollars was Pakistan's exports.