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April 8, 2021

Turkey pitches joint ventures in shipbuilding industry

Business

April 8, 2021

KARACHI: Turkey on Wednesday expressed interest in exploring joint-venture opportunities in Pakistan’s shipbuilding industry and maritime businesses.

hsan Mustafa Yurdakul, ambassador of Turkey advised collaboration in blue economy during a virtual meeting with Pakistani businessmen.

Consul General of Pakistan in Istanbul Bilal Pasha, Commercial Counselor of Turkey Demir Ahmet Sakin and Commercial Attache of Turkey in Karachi Eyyup Yildirin made a detail presentation to highlight the business and investment opportunities in food, beverages, medical equipment and construction sector.

The meeting was followed by business-to-business networking session that was attended by more than 135 Pakistani and Turkish companies representing food, beverages, construction, construction material, medical equipment and their technologies and directors and members of Pakistan-Turkey joint business councils.

Nasser Hyatt Maggo, president of the Federation of Pakistan Chambers of Commerce and Industry underlined the need of harmonisation of standards so that the trade via third country could be reduced. He said strategic economic framework is a road map for deepening economic cooperation for enhancement of bilateral relations in trade, tourism, healthcare, hospitality, industry, education, housing, agriculture, aviation and banking. He also underlined the need of enhancement of commercial ties by expanding interaction of businessmen.

Amjad Rafi, chairman of Pakistan-Turkey Joint Business Council suggested creation of B2B portal of Pakistani and Turkish companies for trade, joint ventures. He also emphasised on the revival of cargo train and a workable freight and time schedule.

Ahmet Cengiz Özdemir, chairperson of Turkey-Pakistan Business Council underlined the need of enhancement of trade, collaboration in transportation corridor and diversification of relations in various field. He also highlighted the opportunities in energy, CPEC, housing, SMEs, tourism, transportation area for joint collaboration.

Arshad Jan, deputy head of mission/minister, embassy of Pakistan also showed his concern over the pandemic which has reduced commercial activities and highlighted the investment opportunities in economic zones and SEZs of Pakistan. He ensured his continuous efforts and support for the enhancement of trade relations.

Pakistan planned to resume cargo train services via Iran to Turkey. The route stretches 6,540 km. Some 1,950 km of track is in Turkey, 2,600 km in Iran, and another 1,990 km in Pakistan. The journey from Istanbul to Islamabad will take 10 days – much faster than the 21 days by sea between Turkey and Pakistan.

The root of the project is found in container train service launched in 2009 under the umbrella of the Economic Cooperation Organization. ECO is a 10-member political and economic intergovernmental organization founded in 1985 by Iran, Pakistan and Turkey.