EFP, Istanbul Chamber agree to boost bilateral trade

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Karachi: Ismail Suttar, President Employers’ Federation of Pakistan(EFP), during a visit to Turkey with Mehmood Arshad Director Economic Council, to meet Vice President of Istanbul Chambers of Commerce (ICC), Israfil KURALAY, said that Turkey and Pakistan share an inseparable brotherly bond and in current economic times must religiously pursue bilateral trade and investment ventures.

EFP President, while highlighting the bloated USD 300 million trade deficit of Pakistan with Turkey, added that the EFP in partnership with several notable institutions is working on setting up world’s largest mineral processing plant in Balochistan that will produce value-added mineral products for export. Turkey can participate by imparting some technical expertise and pushing blue chip businesses into this sector.

Israfil KURALAY, Vice President of Istanbul Chambers of Commerce (ICC) appreciated the Initiative and proposed a Zoom meeting between businessmen of both the sides to explore the opportunities of investment in mining sector of Pakistan.

“The need for signing Memorandum of Actions (MOAs) instead of signing countless papers of Memorandums of Understanding (MOUs) as EFP strongly believes in actions rather than just filling up the dossiers and in the past hardly any MOU has been materialized in its true spirit”, Ismail Suttar, emphasized.

Mehmood Arshad, Director of EFP Economic Council, during talks with the leadership of ICC, put weight on exchange of expertise in the field of halal services and Islamic Finance where Pakistan has world class expertise. He also encouraged ICC to play its role in finalization of Pak-Turkey FTA as per the demands of Business communities of both the sides.

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