Turkiye looks for jointventures in IT, tourism
Turkiye Consul General Durmus Bastug on Monday visited the Lahore Chamber of Commerce and Industry (LCCI) to explore ways to expand trade and investment cooperation with Pakistan.
Key areas that came up for discussion were technology, tourism and agriculture along with regular exchange of business delegations.
The ambassador said that many leading companies of Turkiye were already operating in Pakistan, which reflected the confidence of Turkish investors in the South Asian country's market. He stressed the importance of strengthening business-to-business ties and shared Ankara's interest in initiating more joint ventures with Pakistani firms.
Speaking on the occasion, LCCI Vice President Shahid Nazir Chaudhry highlighted Turkiye's consistent support for Pakistan on key international matters. While acknowledging the strong relationship, he pointed out that the current volume of bilateral trade was modest.
Pakistan's exports to Turkiye during fiscal year 2023-24 amounted to $337 million while imports stood at $491 million, bringing the total trade volume to around $828 million.
He stressed the need for greater efforts to unlock the untapped trade potential and fully utilise the Trade in Goods Agreement, which came into effect in May 2023. He expressed optimism that with mutual collaboration, the trade volume could be increased to at least $5 billion in the coming years.
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