Pak-Turk economic relations to touch new heights
While welcoming the Mayor of Istanbul Kadir Topbas to Pakistan, the Chairman Punjab Board of Investment and Trade (PBIT) Abdul Basit has said that trade and economic relations between Paksitan and Turkey would touch new heights in coming days.
In a statement issued here, Abdul Basit said that Turkey is time tested friend and has always played a significant role in economic development of Pakistan. He said that time has come that the businessmen of both the countries should enhance their bilateral relations which will be beneficial for the people of both the countries.
He said, "We can strengthen our economy by adopting the development and progress of Turkey as model." He commended the efforts made by Prime Minister Nawaz Sharif and Chief Minister Punjab Mian Shahbaz Sharif whose vision has contributed to a great deal in accelerating the two way interaction among the business community of Turkey and Pakistan.
He said that textiles sector has traditionally been the biggest sector of the economy. Studies and surveys confirm that its contribution in total exports are almost 60% and it engages almost 38% of manufacturing labour force to acquire more than 46% share in overall manufacturing. Abdul Basit said that in the context of having won the GSP plus status, the need of technology improvement and capacity building in textile sector of Pakistan is necessary. We have been offered a golden chance to further increase the textiles exports by USD 2 billion.
It does attract foreign investment and no other country can become better partner with Pakistan than Turkey. So any initiative from Turkish business community related to Textiles is always welcome. He said that Turkey is well positioned to take advantage of Pakistan's economic potential and its geo-strategic location. "Let us make trade and investment, the central pillar of this cooperation." He said that with regard to solid waste management, it is proposed that wasteto-energy solutions are gaining a lot of success in modern world. He said that Pakistan is facing severe crisis in energy sector and it is the best way that we go far all possible options of alternative energy.