Turkey well positioned to take advantage of Pak economic potential: Gilani
ISLAMABAD, Oct 25 (APP): Prime Minister Syed Yusuf Raza Gilani on Sunday said that with Pakistan’s geo strategic location and ease of doing business here, Turkey is well positioned to take advantage of Pakistan’s economic potential. Speaking at the Pakistan Turkey CEOs Forum, also attended by Turkish Prime Minister Recep Tayyip Erdogan, Prime Minister Gilani said the two countries programmes and agendas intersect across a broad array of areas and interests.
Prime Minister Gilani added that
one key area where Pakistan and Turkey’s interests intersect, which
must be focused, is the domain of private sector cooperation.
“Let us make trade and investment the central pillar of this cooperation.”
He categorically stated that the trade between Pakistan and Turkey does
not commensurate with potential that exists between the two countries.
The Prime Minister said through bilateral arrangements and early
implementation of regional trade agreements such as the ECO Trade
Agreement, the two countries should open up markets to a greater range
of products and services.
He also called for ensuring early finalization of Free Trade Agreement.
He said Pakistan and Turkey must work out, as a key component of common
Asia policy, a common marketing and market development strategy for
Eurasia.
This, Prime Minister Gilani added, must include, besides the bilateral
component, joint plans to revamp and revitalize the trade promotion
role of the Economic Cooperation Organization.
Referring to the goods train service between Islamabad and Istanbul,
started on August 14 this year from Islamabad, he stressed that it is a
strategic project “which must be accorded high priority.”
He also called for exploring the tremendous scope for investment of
Turkish companies in development of Pakistan’s alternate energy and
tourism sectors.
He said Pakistan has set up Special Economic Zones where investors enjoy special facilities.
Prime Minister Gilani said the democratic government of Pakistan is
committed to making the country a trade, investment and financial hub.
He mentioned that Pakistan is an emerging market of 170 million having
a vibrant agricultural and an equally vibrant services sector.
He said with vast mineral wealth, Pakistan is located at the road
linking Eurasia and South Asia, China and the Gulf which translates
into a vast potential waiting to be exploited.
In recognition of this potential, he added, 500 multinational
corporations have established base in Pakistan and Foreign Direct
Investment inflows last year amounted to over $ 8 billion.
Pakistan, Prime Minister Gilani added, offer national treatment to foreign investors.
He said that Turkey has always stood by Pakistan in times of need and
particularly referred the recent successful FODP ministerial meeting
hosted by Turkey and added that it contributed to the success of the
first FODP Summit.
He said there is a striking array of commonalities and parallels in
cultures of the two countries, their ethos and outlook and geo
strategic orientation.
He said Turkey and Pakistan have co founded the Economic Cooperation
Organization and the D 8 group and Turkey today stands out as a
successful model of economic development.
“Turkey’s impressive performance under Your Excellency’s able
stewardship is a matter of great pride for the developing world,
particularly the Islamic community,” Prime Minister Gilani said.
“It is a performance, we in Pakistan aspire to emulate.”
Prime Minister Gilani informed the forum, attended by leading
businesses of the two countries, that Pakistan and Turkey have agreed
to visa liberalisation for business communities of the two countries.
He said this will provide enhanced interaction for better commercial ties between the businessmen of Pakistan and Turkey.
He also condemned the two terrorists attacks in Iraq on Sunday in which a large number of innocent lives were lost.
Turkish Prime Minister Recip Tayyip Erdogan expressed his desire to have public and private sector partnership, specially in energy and infrastructure development between Pakistan and Turkey.
He said Turkey has the potential and required expertise to carry out projects in hydroelectricity, wind turbines and natural gas resources.
He said there exists vast potential between the Small and Medium Enterprises (SMEs) of the two countries.
He said the two countries have exemplary relations and his country would continue to build and solidify these ties.
Erdogan said that the bilateral trade between the two countries at present was very low and there is a great potential for its improvement.
He said that the trade volume between the two countries over the next two to three years should be two billion dollars a year.
He said the world has been affected by the economic crisis but Turkey is among those few countries whose economy has remained steady and least affected by crisis.
The major contributing factor to Turkey’s strong economy, he added, has been various reforms introduced over the last seven years along with democratic and legal reforms.
“After the crisis is over, Turkey is going to become one of the most remarkable countries in the world,” he added.
He said at present Turkey is the world’s 17th largest economy and if the positive economic trends continue, the country will jump to 16th position next year.
He said Turkey is also one of the world’s favourite tourists’ destination as last year 26 million tourists visited his country.
He said bilateral relations should reflect in trade, economy, military, tourism, cultural and other areas of cooperation for which the political will exists on both sides.
