KARACHI: The Preferential Trade Agreement (PTA) between Pakistan and Turkey is under technical discussions for more than three years. Both the governments should move fast ahead by resolving the technical issues to materialise the PTA.
Zakaria Usman President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) at interactive session of Pakistan-Turkey Business Council of FPCCI said the bilateral trade between Pakistan and Turkey would be further developed by the implementation of the decisions of Istanbul Forum 2014 held in Turkey. Though the balance of trade is in favour of Pakistan but statistics show the volume of trade have been reduced to $621.5 million in 2013 as compared to $1.2 billion in 2011.
If PTA is implemented, it can play major role to augment the trade and economic relations between both the countries.
Freight train service between Istanbul, Tehran and Islamabad was not yet started.
Although it was decided in the Istanbul Forum and it was also decided it would be extended to Afghanistan through Trucks to Kabul from Islamabad and through Chaman to Qandhar.
Turkey has become more popular in Pakistan because of their TV dramas serials shown on various Pakistani TV Channels.
He stressed on reciprocal arrangement and said Pakistan has also potential in TV shows and dramas, which could be translated in Turkish language for showing on Turkish TV Channels.
Murat Mustafa Onrat Consul General of Turkey in Karachi said the Turkish government took several measures to develop the local industry and to protect them and the government imposed counter-veiling duties as safeguard measures on the import from all over the world including Pakistan especially on textile products.
Due to this reason the volume of trade reduced but it was still in favour of Pakistan. He assured his full support in pursuing his government for early conclusion and finalisation of PTA.
In Karachi Shipyard a ship is under construction under the supervision of Turkish company with a cost of $18 million.
Amjad Rafi Chairman Pakistan Turkey Business Council informed the meeting of Pakistan-Turkey Joint Ministerial Commission was expected to be held in June/July this year.
