ISTANBUL: Leading businessmen of Pakistan and Turkey participated in the Pakistan-Turkey Business Opportunities Conference, organised by the Rawalpindi Chamber of Commerce & Industry (RCCI) in collaboration with All Industrialists & Businessmen Association of Turkey (TUMSIAD) in Istanbul. Over 700 businessmen from Pakistan and representatives of over 150 Turkish companies attended the event.
RCCI President Raja Amir Iqbal made a comprehensive presentation about business opportunities in Pakistan. He urged the Turkish counterparts to take advantage of the conducive investment and business enviromnet in Pakistan.
"Pakistan has over 185 billion tons of coal reserves which is equivalent to 618 billion barrels of crude oil reserves in terms of energy output, while the country has 31.3 trillion cubic meters of natural gas reserves," informed Iqbal.
He urged the businessmen of both countries to play their role to enhance bilateral trade, which was about $610 million in 2016. Raja Amir Iqbal also briefed the Turkish businessmen about the multibillion-dollar China Pakistan Economic Corridor (CPEC) project which will transform the entire region into a hub of economic activities.
Charge d' Affairs of Pakistan Syed Ali Asad Gilani in his remarks mentioned that the multi-faceted relationship between Pakistan and Turkey is flourishing in diverse fields. "The growing Turkish involvement in socio-economic development of Pakistan is clear manifestation of the desire of the leadership on both sides to transform this strong political and cultural relationship into a robust economic partnership," said Gilani.
He highlighted that symbols of Turkish corporate footprint on Pakistan's economic landscape are emerging fast. Metro buses, solid waste management, Turkish participation in construction of different portions of Motorway, Arcelik's investment of US $258 million for acquisition of Dawlance, Zorlu's undertaking of 300MW of Solar power generation in Quaid e Azam Solar Energy Park, and Hayat Kimya's plans to invest US $ 50 million for setting up a diaper manufacturing facility in Pakistan are some of the examples of growing Turkish investment in Pakistan, he added. Charge d' Affairs also lauded RCCI for its initiative and hoped that the two days event would provide an opportunity for business communities of the two brotherly countries to further closer.
Published in Daily Times, August 13th 2017.