Karachi: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is moving forward to bolster trade ties with Turkiye, aiming to expand bilateral trade to $5 billion from the current $1 billion annually. The push follows an invitation from Mr. Cemal Sangu, Consul General of Turkiye in Karachi, to a multi-sectoral delegation from Pakistan to discuss trade and economic cooperation opportunities.

According to Federation of Pakistan Chambers of Commerce and Industry, Mr. Saquib Fayyaz Magoon, Acting President of FPCCI, highlighted the potential benefits of enhanced trade, particularly through exports of Pakistani value-added textiles, leather goods, processed foods, IT services, sports goods, and surgical equipment. The discussion underscored the need for tangible steps to tap into the substantial trade potential between the two nations.

Furthering these ambitions, Mr. Asif Sakhi, VP of FPCCI, emphasized Turkiye’s expertise in various high-tech industries, including electric vehicles, renewable energy, and artificial intelligence, suggesting that Pakistan could benefit from industrial collaborations. Meanwhile, Mian Zahid Hussain, Chairman of FPCCI’s Policy Advisory Board, praised the Preferential Trade Agreement between the countries, noting a trade surplus that underscored their strengthening economic partnership.

The dialogue also included proposals for agricultural land acquisition by Turkish investors, importation of high-tech machinery from Turkiye, enhancements in land-based transportation systems, and stronger business-to-business connections across diverse sectors such as agriculture, technology, and entertainment.