Turkish delegation underscores need of sharing expertise with Pakistan.

Turkish delegation underscores need of sharing expertise with Pakistan.

KARACHI: Members of a delegation from Turkey underscored the need for signing free trade agreement (FTA) with a view to boost the existing trade ties between Pakistan and Turkey.

Exchanging views during their visit to the Karachi Chamber of Commerce and Industry (KCCI), the delegation members, representing Turkish electrical appliances sector, expressed keenness to share technology and undertake joint ventures with their counterparts in Pakistan.

The Turkish delegation, which was led by Electrical Electronics and Services Exporters Association (EESEA) President Dr Guven Uckan, comprised of EESEA Vice President Mehmet Kavakhoglu, EESEA Management Board Members Atilla Eren and Hakan Ozturk while Commercial Attaché of Consulate General of Turkey Murat Mustu also accompanied the delegation.

KCCI President Younus Muhammad Bashir, KCCI Senior Vice President Zia Ahmed Khan, KCCI Vice President Muhammad Naeem Sharif, former KCCI SVP Muhammad Ibrahim Kasumbi and KCCI Special Committee for ‘My Karachi Exhibition’ Chairman Muhammad Idrees were also present on the occasion.

Murat Mustu on the occasion informed the meeting that it was the second delegation of Turkey businessmen, as a similar delegation from Jewellers Association of Turkey also visited Karachi last year, which succeeded in building goods business relations with their counterparts in Pakistan.

Commenting on production of electrical appliances and machineries being produced in Turkey, he particularly mentioned that high quality textile machineries were being produced in Turkey and the same were being exported to the European Union. These products were much better as compared to similar machineries being produced by China, he claimed, adding that these machineries and electrical equipment can also be exported to Pakistan but the custom duty rates were a bit high, which can only be reduced by signing an FTA that was currently being negotiated.

Leader of the delegation, Dr Guven Uckan said that the Turkish companies want to enhance business with Pakistan by holding business-to-business meetings and seek ways on how to do business together. “We want to do business by undertaking joint ventures either in your country or in our country and we are looking forward to sharing technology with Pakistan,” he added.

He hoped that FTA between the two countries would soon be inked, which would surely create a win-win situation for the business communities of the two brotherly countries.

Earlier, while welcoming the delegation, KCCI President Younus Muhammad Bashir said that it was heartening to note that numerous delegations representing various sectors of Turkish economy have been visiting KCCI from time to time with a view to look for opportunities of enhancing trade and investment between the two countries.

He said that both countries were all weather friends and their economic ties were based on longstanding and deep-rooted bilateral relationship providing economic and political support to each other. “Pakistan and Turkey have significant trade volume where Pakistan exported commodities of worth $322.60 million while imported commodities of worth $238.45 million during 2014-15, showing a trade balance of $84.15 million in favour of Pakistan,” he added.

He pointed out that Pakistan was a major importer of electrical and electronic items from around the world and there exists a growing demand of such products in the country.

“In fact, the home appliances business is thriving and key market players expect consumer demand to surge as households generally replace their old appliances with newer models,” Younus Bashir said. “Pakistan’s consumer electronics market is expected to grow by an annualised average of about 13.3% to $3.3 billion by 2016. Although refrigerators, deep freezers and air conditioners are being manufactured within the country, yet the industry depends on imported compressors for manufacturing these items.”

He was of the opinion strong potential for Turkish businessmen exists who can undertake joint ventures with local businessmen to establish manufacturing and assembly lines in Pakistan while capitalising on the abundant and cost effective resources available here. It would also open opportunities for Turkish businessmen to further reach out to the landlocked Central Asian countries, he added.

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