The Union of Chambers and Commodity Exchanges of Turkey (TOBB) in cooperation with the Embassy of Pakistan in Ankara hosted a working dinner in honor of the Prime Minister of Pakistan H.E. Imran Khan.

The prime minister was accompanied by the high-level delegation, including Minister for Foreign Affairs Makhdoom Shah Mehmood Qureshi, Minister for Finance Asad Umar; Minister for Planning, Development and Reform Makhdoom Khusro Bakhtyar, Adviser to the Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood, Foreign Secretary Tehmina Janjua and Special Assistant to Prime Minister on Overseas Pakistanis Zulfikar Bukhari.

Stating that despite cooperation in enormous number of fields, the trade volume between Turkey and Pakistan is insufficient, the TOBB President Rifat Hisarcıklıoğlu said “Our bilateral trade, which is just over half a billion dollars, is not suitable for two brotherly countries. Similarly, our mutual investments are not at the level we want. Turkey’s total direct investments in Pakistan amount for 1 billion USD while Pakistan’s direct investments in Turkey amount for around 600 million USD. Our contracting companies have undertaken important projects in Pakistan as they have done throughout the world. A total of 59 projects have been successfully completed to date. We have established Turkey-Pakistan Chamber of Commerce Forum as a part of our cooperation. Today we will discuss the problems our companies experience and will deliver our proposals to the governments of Turkey and Pakistan. We are deeply troubled by protectionist policies in trade. We think that protectionism will impoverish our people.”

Referring to the problem regarding visas, the TOBB President said, “We are friends, brothers. Should brothers visit each other’s house only with permission? Visa application is a serious obstacle to trade. At least we have to save the business world from this visa problem. Support us. Give the Turkish business community the opportunity. Let’s invest more. Let’s engage in more mutual trade.”

Hisarcıklıoğlu stated that Turkey is one of Europe’s most important suppliers of home appliances, construction material, cement, automotive and its spare parts as well as shipbuilding industry.
Indicating that industrial products comprise over 90% of Turkey’s exports, Hisarcıklıoğlu said, “Half of these products are supplied to the highly competitive countries such as Europe and the USA. We achieved international success in tourism and overseas contracting services. 40 years ago no one heard our name in tourism industry, whereas today thanks to private investments and country’s vision, Turkey has become one of the top 10 tourist destinations in the world. 46 Turkish contracting companies took place in the list of the Top 250 International Contractors. With this number, we ranked higher than the United States. We are ready to share our experience with our brothers. Especially we would like to get more share for the Turkish contracting companies in the infrastructure investments of the Pakistan-China economic corridor.”

Prime Minister of Pakistan Imran Khan stated that he is attending the program with many ministers accompanying him including Pakistani Minister of Foreign Affairs Makhdoom Shah Mehmood Qureshi and Minister for Planning, Development and Reform Makhdoom Khusro Bakhtyar, “I brought my team with me because the time has come to increase trade volume of Pakistan and Turkey.”

Stating that the desired bilateral trade levels between the two countries have not been achieved due to various reasons, Khan said that one of the reasons is the distance between Turkey and Pakistan.

Pointing at the long length of the shipping route, Khan added, “I think this problem will be solved in the coming years because there is a very important development underway in Pakistan. This is the Chinese Belt Road initiative.” Khan stated that they intended to form connections with places their country hadn’t had any links before. He said that Pakistan has great potential in many areas and this potential has not yet been fully utilized.”

The Turkish Minister of Trade Ruhsar Pekcan said that the trade volume between Turkey and Pakistan remains inadequate for two friendly and brotherly countries and that they are striving to advance economic and trade relations.

Expressing that significant investments to Pakistan from Turkey are underway, Pekcan said, “Our companies employ 6,506 people in Pakistan. I firmly believe that our companies’ investments in Pakistan will grow further in the future and deepen our bilateral economic relations. At this point our companies’ high interest in Pakistan will continue and will increase the level of economic partnership between our countries.”

Pekcan said that Turkish contractors have undertaken 9,600 projects in 123 countries amounting for 378.9 billion USD. She added, “Our contractors are also carrying on important projects in Pakistan. We have 62 projects in your country, mostly in the energy, infrastructure, construction and consultancy sectors. Road projects are the leading ones, followed by harbours and irrigation system projects”.