FPCCI Emphasizes Enhanced Trade Relations Between Pakistan and Turkiye

Atif Ikram Sheikh, the President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has stressed the importance of boosting trade and economic ties between Pakistan and Turkiye. He noted that the existing trade volume does not accurately represent the historically strong and cordial diplomatic relations between the two countries.

During a meeting of the Pakistan-Turkey Business Council of FPCCI, held at the FPCCI Head Office in Karachi and chaired by Senior Vice President Saquib Fayyaz Maggo, Sheikh highlighted the necessity of strengthening institutional connections and private sector cooperation to fully realize the trade potential between Pakistan and Turkiye.

He reiterated FPCCI’s dedication to promoting increased business-to-business interactions between the two nations. He acknowledged Turkiye’s ongoing assistance across various sectors and expressed confidence that enhanced economic partnerships would greatly benefit both countries. He urged both governments to foster a more supportive environment for trade and investment through the implementation of prompt policy measures.

Syed Mazhar Ali Nasir, Chairman of the Council, in his main address, underscored the immediate requirement for the prompt signing of a Free Trade Agreement (FTA) between Pakistan and Turkey. He mentioned that despite shared membership in organizations like the OIC, D-8, and ECO, the trade volume between the two nations remains below its potential. Bilateral trade has remained stagnant at under US $1 billion, with Pakistan’s contribution at about US $366 million in 2024, he noted.

He emphasized that Pakistani exports to Turkey, including textiles, denim, sports equipment, surgical instruments, and rice, are in considerable demand and could significantly aid in balancing trade. He also pointed out that enhancements in trade routes, banking infrastructure, and logistical connectivity would enable bilateral trade to thrive and meet the expectations of the business communities in both countries.

Cemal Sangu, the Consul General of Turkiye in Karachi, commended FPCCI’s efforts to facilitate bilateral trade and assured the Council of Turkiye’s commitment to exploring new avenues for collaboration. He affirmed that both nations possess substantial potential for expanding trade in areas such as construction, tourism, engineering, and food processing.