KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Irfan Iqbal Sheikh on Monday stressed on enhancing bilateral trade between Pakistan and Turkiye, saying the trade between the countries has potential to reach $5 billion.
Pakistan and Turkey has recently signed a trade in goods agreement, which FPCCI chief said, would pave the way for realisation of the potential. He also denied reports that the private-sector of Pakistan was not consulted before signing the agreement with Turkey. “Being the apex body, FPCCI represented the entire business community of the country on the auspicious occasion,” he said.
Sheikh apprised that in FY22, the bilateral trade volume between the two countries had crossed the psychological barrier of $1 billion after a long hiatus of ten long years and climbed up to $1.1 billion per year. He envisaged that the bilateral trade would get a major boost in coming years and would touch $5 billion mark.
FPCCI chief urged local exporters to target value-added textiles; sports goods; surgical equipment; rice, fruits and vegetables, and construction materials. Mr. Amjad Rafi, chairman of FPCCI’s Pakistan-Turkey Joint Business Council, said a consultative process had been going on in the federal ministry of commerce for a period of one and a half years, and stakeholders from the business, industry and trade community were also consulted.