A Turkish delegation visited the FIEDMC camp office and showed a keen will that Turkish companies are eager to invest in special economic zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC). FIEDMC Chairman Mian Kashif Ashfaq gave briefing to the delegation about Allama Iqbal Industrial City. He said; “the cordial relations between Turkey and Pakistan should now be transformed into strong trade and economic ties and believed that both countries have immense potential to complement each other in terms of bilateral trade. This can be achieved only by better connectivity between the private sectors of both countries. This is the right time for Turkish investors to explore joint ventures and investment in SEZs in gems and jewelry, pharmaceutical, marble, auto and health sectors. FIEDMC is extending maximum facilities to the foreign and local manufacturers by providing all services to businessmen under one roof for ease of doing business in the province. All industries within the export processing zone would be exempted from tax for a period of 10 years and plants, machinery, raw material and other equipment would be imported duty-free. Like many other countries, more than 25 Chinese companies had made agreements for investments in the industrial city”.
The delegation members responded that they are willing to establish business partnerships in automobile, IT, home appliances, education and other fields. As Pakistan and Turkey have great potential to enhance cooperation in many areas, thus, both countries should create strong linkages between their private sectors to explore all potential areas of mutual cooperation.