Karachi: Senior leadership from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) underscored the importance of economic collaboration between Pakistan and Turkey during the 1st Palandoken Economic Forum in Erzurum, Turkey. The forum, organized by the Government of Erzurum in conjunction with the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and the World Chamber Federation, centered on the theme “An Equitable Future in a Smart World: Intelligent Economic and Global Inequality.”

The FPCCI leadership, addressing an audience of business leaders from across the globe, emphasized the existing strong bilateral relations between the two countries. They highlighted the shared memberships in multilateral organizations such as the Economic Cooperation Organization (ECO), Developing Eight (D-8), and the Organization of Islamic Countries (OIC). Turkey’s status as one of the largest investors in Pakistan, with significant projects in multiple sectors, was also noted.

The FPCCI proposed exploring further opportunities for collaboration, particularly in trade, infrastructure, and energy. They argued that Turkey, with its advanced technology, and Pakistan, with its raw materials and skilled human capital, possess complementary strengths that could enhance economic ties.

Additionally, the potential for cooperation in the education and tourism sectors was discussed. The FPCCI pointed out that while Pakistan’s trade under the TIR convention has cut transportation costs and time, financial and banking challenges remain, which could be addressed by establishing a joint investment company.

The leadership expressed admiration for Turkey’s political and economic leadership and the work ethic of the Turkish people. They urged for a strengthened role of the Islamic Chamber, ECO CCI, and D-8 to foster regional growth and prosperity, emphasizing mutual growth through collaboration.