Pakistan-Turkey to set up “project group” and examine priority areas of cooperation


Islamabad : Pakistan and Turkey have agreed to form a “Project Group” to examine priority areas of cooperation for promotion of investment in Mining, Oil and Gas, Textiles, Agriculture, Livestock and Dairy, Energy, Engineering and Infrastructure and Construction.

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A statement issued by the Ministry of Investment here said that Pakistan side would be represented by Tariq Iqbal Puri, Secretary Investment, and Tariq Aziz Uddin, Pakistan Ambassador in Ankara, Turkey while the Turkish side would be represented by Ziya Altunyaldiz, Director General, Under Secretary for Foreign Trade and Turkish Commercial Counselor in Islamabad (to act as contact person).

Other members may be co-opted with mutual consent of both sides.

The statement added that during the visit of the Turkish Prime Minister to Pakistan, Pakistan-Turkish CEO’s forum was held here to promote economic and investment cooperation between the two countries.

The Forum highlighted a number of areas and sectors wherein investment can be realized in Pakistan and Turkey.

After the Forum, a Turkish delegation headed by Zafar Caglayan Minister of State for External Trade, Turkey held an official meeting with Senator Waqar Ahmed Khan, Minister for Investment.

Both the Ministers deliberated on bilateral economic relations including promotion of investment between the two countries.

The two sides held detailed discussions on various sectors of economy for promoting mutual cooperation and strengthening economic relations.

Both sides emphasized the need to enhance investment cooperation which at present does not commensurate with the deep historical friendship between the two nations in all spheres.

It was reiterated to promote the visits of high level businessmen in order to accelerate the flow of investment in both directions.

Turkey is prospering and growing at a fast pace in term of GDP, per Capita Income, and enjoy European neighborhood and access to EU market.

This potential has to be exploited for the economic well-being of both the countries.

While on the Pakistan side, huge untapped investment opportunities were highlighted which require to be packaged for offering to the Turkish investors.

It was further agreed that Pakistan will hold Road Shows at Ankara, Izmir, Istanbul and Denizlin in Turkey. The projects to be presented in the Road Shows will be new projects supported by feasibilities as well as ongoing projects facing financial difficulties in their implementation.

It was also agreed that the projects in the Infrastructure, Energy, Manufacturing, Oil & Gas Exploration, Banking, allied Services will particularly be highlighted to generate Turkish investment in Pakistan.