Free trade accord with Turkey soon: Alvi

karachi — President Dr Arif Alvi on Saturday said that Pakistan and Turkey were likely to sign a free trade agreement (FTA) soon, which would boost their bilateral trade.

“During my recent visit to Istanbul, I talked to Turkish President Tayyip Erdogan on the FTA. Seven meetings had been held in the past, but the FTA could not be finalised because of certain concerns shown by Turkey. Now, these hindrances will be removed and the FTA will be finalised soon,” he added.

The president was speaking at the launching ceremony of 16th “My Karachi: Oasis of Harmony” exhibition-2019 at a hotel here. The three-day international trade event will start from April 5, 2019.

The president said his Turkish counterpart agreed that more serious and concrete steps were needed to increase bilateral trade, which had decreased to $600 million from $1 billion per year.

He said the Turkish government, business community and the people in general gave great importance to Pakistan and its citizens. Turkish investors were keen to invest in various sectors in Pakistan, he added.

Four Turkish companies, he said, were ready to bring $1.5 billion investment to Pakistan. However, there were certain issues needed to be addressed before their arrival, he said, adding that Albania also expressed interest in Pakistan’s goods trade to European countries. —

Seven meetings had been held in the past, but the FTA could not be finalised because of certain concerns shown by Turkey. Now, these hindrances will be removed and the FTA will be finalised soon

Arif Alvi, President