Turkish delegation interested in JVs in Pakistan

A Turkish business delegation has expressed interest in investments and joint venture opportunities in Pakistan while visiting the Lahore Chamber of Commerce and Industry. Dr Ali Cihan Kurt was leading the Turkish delegation. Turkisk delegates met with the LCCI office-bearers; President Almas Hyder, Vice President Faheem-ur-Rehman Saigal and former President Bashir A Baksh.

LCCI President Almas Hyder said Pakistan and Turkey are steady trading partners and among the global importing and exporting destinations of Pakistan, Turkey comes at 31st and 17thplaces respectively. He said that it is encouraging to see that there is increasing trend in bilateral trade. For instance, in 2016 the volume of bilateral trade was US $497 million which surged to $596 million and $661 million in next two years.

The balance of trade has traditionally been in favour of Pakistan but in 2018, the imports made from Turkey worth $358 million exceeded the total exports of $303 million to Turkey.