Pak-Turk eco­nomic re­la­tions to touch new heights

The Pak Banker - - NATIONAL -

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.

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