ISTANBUL - State Minister Kursat Tuzmen said on Wednesday that Pakistan and Turkey complemented each other in textile and ready-made clothing sectors, adding that ''we will develop strategic cooperation with Pakistan to cope with the competition of the Far East.''
Addressing the luncheon held by Turkish-Pakistani Business Council in the honour of Pakistani President Pervez Musharraf, Tuzmen referred to the agreements signed with Pakistan in Ankara on Tuesday.
One of them was framework agreement to improve mutual trade, he said adding that the agreement was related to establishment of common investment company, textile quotas, improvement of investment and trade among free trade zones, reducing tariffs mutually, and investments to be made by Turkish businessmen in free zones of Pakistan.
Stressing that the second agreement was a first step in concluding a preferential trade agreement, Tuzmen said that the two sides would come together next month and determine the main commodity groups which could be traded between the two countries. Tuzmen noted that tariffs would be reduced with the mentioned agreement, adding that the products to be determined would not damage economy, by-industry and the views of private sector would be taken about those studies.
Tuzmen stated that Turkey was the main point in Pakistan's opening to Europe, adding that Pakistan was also important in opening of Turkey to the Far East.
Rifat Hisarciklioglu, the Chairman of Union of Chambers and Commodity Exchanges of Turkey (TOBB) and Executive Board President of Foreign Economic Relations Council (DEIK) said that efforts were underway for Islamic Trade and Industry Chamber's opening a regional office in Istanbul, adding that close cooperation with Pakistan would continue also in that platform.
Rifat Hisarcýklýoglu stated that Turkish companies wanted to do business in Pakistan particularly in construction sector, adding that ''in the same way, I invite Pakistani investors to invest in our country.''
Totally 60 businessmen attended the luncheon.
MUSHARRAF: TRADE BETWEEN TURKEY AND PAKISTAN NOT ENOUGH
Musharraf said that the trade volume between the two countries were not at sufficient level.
Musharraf said that the trade between Turkey and Pakistan was 200 million dollars, adding ''as Mr. Tuzmen said, this is a funny figure.''
Musharraf said that Pakistan's trade volume even with Afghanistan was 1 billion dollars and the trade volume with Turkey should be definitely increased.
Speaking in the luncheon hosted by Turkish-Pakistani Business Council in his honour, Pakistani President Musharraf said that there were historical and cultural ties between Pakistan and Turkey. The commercial relations had to be increased, he said adding that Pakistani government tried to ease the investments, but the main role in this regard was on the private sector of the two countries.
Musharraf called Turkish businessmen to benefit from the opportunities in his country.
Musharraf said Turks were always friends of Pakistani people and the doors would be open to Turks in Pakistan also in business field.
Musharraf said that they took measures to draw foreign capital to Pakistan, adding that they tried to create a favorable environment for investment in the country.
Noting that Pakistan renewed the laws and legal basis, composed new institutions and made autonomous the existing institutions, Musharraf said that there were 600 foreign companies in Pakistan.
Musharraf said that Turkey and Pakistan were complementary countries in textile sector.
Stating that Pakistan had a big potential with regard to telecommunication sector, he said that more companies in this sector should come to Pakistan.
Musharraf said that there were many important incentives in development and construction fields in Pakistan and stated that many Turkish companies were doing business in his country and they expected more companies to come to his country.
Pakistani President Musharraf said that Turkey and Pakistan decided to set up an investment company between the two countries.
Inviting Turkish businessmen to Pakistan, Musharraf said that businessmen should come to Pakistan and make good use of its opportunities.
Musharraf added that his meetings in Ankara were very positive.
DIRECT MARITIME LINE BETWEEN TURKEY AND PAKISTAN
Musharraf said that they wanted a direct maritime line between Turkey and Pakistan.
Musharraf replied to questions in the luncheon hosted by Turkish-Pakistani Business Council.
When asked his evaluation about the small amount of trade volume between the two countries, Musharraf said that they attributed very much importance to this issue.
Upon another question, Musharraf said that Pakistan attributed very much importance to maritime sector and added that they wanted a direct maritime line between Turkey and Pakistan and stressed that two countries could work together in this field.
Meanwhile, State Minister Kursad Tuzmen said that a Pakistani bank had been active in Turkey for 15 years but Turkey did not have a bank in Pakistan and added that the state would do its best for an initiative to be launched in this field.
Following this statement of Tuzmen, Pakistani Central Bank Governor Ishrat Hussain said that they invited Ziraat Bank to Pakistan and Ziraat Bank would open a branch in Pakistan.
(GC-ÖÞ) 21.01.2004