Negotiation on Preferential Trade Agreement (PTA) between the two countries is in progress and the agreement is likely to be signed soon, Ambassador of Turkey, Babur Hizlan said here on Tuesday Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he expressed hope that after signing of the agreement two-way trades may increase many fold.
He said bilateral trade potential is not properly utilised and now it is time to explore the enormous trade potential. He described the prevailing volume of bilateral trade between the two brotherly countries as unsatisfactory. He said that Turkey attaches great importance to Pakistan and efforts are underway to enhance trade.
Replying a question about Turkish expertise in mineral, power generating, steel production sectors, he said Turkish companies are ready to have collaboration with Pakistani counterpart in these sectors. He said that Turkish companies have been accomplishing important infrastructure projects in Pakistan contributing to its development drive for years.
Babur Hizlan expressed confidence that Turkish-Pakistani relations will have even brighter future when we mobilise our resources in much closer co-operation in the times to come. He said one of the Turkey's companies establishing 6MW wind-power generating unit in Pakistan and its capacity is likely to be increased up to 50MW.
He underscored the importance of ECO Freight Train between Pakistan-Iran-Turkey. He said that trial run of the freight train between Pakistan and Turkey was carried out in 2009 and final study of the train project is in progress. Babur Hizlan said that the Turkish Airlines has a flight frequency of four times a week between Istanbul and Karachi and there is a desire to increase it to seven days a week and start cargo service. There is also a desire to add new destinations of Lahore.
Former President KCCI, Majyd Aziz sought the Ambassador's help to approach Turkish government and private sector and ask them to provide technical expertise to develop mineral, steel and power sectors in Pakistan. Earlier, Siraj Kasim Teli pointed out that the present trade is not aligned with the existing potential and underlined the need to develop road and railway infrastructures between Pakistan-Turkey via Iran so that cargo can swiftly reach Turkey at economical rates.
President KCCI, Mian Abrar Ahmed briefs the Ambassador about working of the Chamber and expressed intention to establish Karachi-Turkey joint chamber of commerce and industry. The meeting was in progress when suddenly firing started in the vicinity of the chamber and traffic was jammed. The Ambassador remains stuck at the chamber for some time and rangers were called to escort his car and provide him safe passage.