Pakistan, Turkey seek to boost economic ties

Eurasia News

LAHORE: Prime Minister Nawaz Sharif on Monday invited Turkish businessmen to invest in energy‚ agriculture‚ textile tourism and infrastructure building sectors in Pakistan, adding that his government would ensure full protection and support to the Turkish investment.

In his address to the Pakistan-Turkey Business Forum in Lahore on Monday night, the prime minister said that asked Turkish entrepreneurs to explore the possibility of investment in the energy sector in Pakistan which has wide-ranging potential in thermal‚ hydel and alternative sources.

The prime minister said that Pakistan has also embarked upon an ambitious programme of infrastructure development and Turkish cooperation would be welcome. He said the programme includes construction of motorways‚ highways‚ airports‚ theme parts and Economic Corridor linking Pakistan and China.

The Pakistani premier noted that Turkish businessmen have expressed their desire to invest in Diamer-Bhasha and Bunji dams‚ Lahore-Karachi motorway and Gaddani Power Park.

Sharif said that the Board of Investment of Pakistan is also working with Pak-Turkey Business council in promoting cooperation in textile‚ automobile and communication sectors.

The prime minister said that there is vast potential in tourism development in Pakistan and Turkish firms can join their Pakistani counterparts for the purpose. He also recounted the incentives that Pakistan offers to foreign investors including repatriation of the capital‚ profit‚ and tax breaks‚ concessions in custom duties and special economic zones where one window facility is offered.

Moreover, the prime minister said that economic prosperity of people remains the top priority of the present government in Pakistan. He said that our economic framework is based on sound macro-economic policies and accelerated economic growth; alleviate poverty and creating new jobs.

Meanwhile, Turkish Prime Minister Recep Tayyip Erdogan, who arrived in Lahore on a two-day official visit to Pakistan earlier this morning, said in his address to the forum that Turkey attaches great importance to its relations with Pakistan. He said Turkey will take benefit of investment opportunities in Pakistan.

The Turkish Prime Minister said that with the visit of Turkish businessmen to Pakistan‚ a new chapter of trade will be opened between the two countries.

Erdogan said that he is thankful of the Pakistan government for encouraging the Turkish businessmen. He said people of Turkey and Pakistan are brothers and the Turkish people take Pakistan as their second home.

The Turkish premier said that his country wants to enhance trade volume with Pakistan. He said his country to increase cooperation between Turkey and Pakistan in different fields including agriculture and tourism.

On the occasion, three Memorandums of Understanding (MOUs) were signed for cooperation between the two countries in different fields.