Union of Chambers and Commodity Exchanges of Turkey

The meeting hosted by Hisarcıklıoğlu was attended by Pakistani Prime Minister Shahbaz Sharif, Turkish Trade Minister Mehmet Muş, Turkish National Defence Minister Hulusi Akar, Pakistan Defence Minister Khawaja Muhammad Asif, Pakistan Federal Trade Minister Syed Naveed Qamar, Pakistan Federal Minister of Information and Broadcasting Marriyum Aurangzeb, Pakistani Ambassador to Ankara Mohammad Sirus Sajjad Ghazi and businesspeople.

TOBB President M. Rifat Hisarcıklıoğlu explained TOBB's work to the Pakistani delegation. While Turkey and Pakistan are in close relations in every field, Hisarcıklıoğlu stated that the trade volume between the countries does not make anyone happy, “Our mutual trade, which does not even reach a billion dollars, is not becoming of two brotherly countries. Our mutual investments are similarly not at the level we want. Turkey's total direct investments in Pakistan are around $1 billion. There are over 230 Pakistani capital companies in Turkey. Between 2000-2020, the amount of direct investment made by Pakistani companies in our country was around 690 million dollars.”

- We don't want protectionist policies

Stating that Turkish contracting companies have carried out important projects in Pakistan as well as all over the world, the TOBB President said, “71 projects amounting to approximately 3.5 billion dollars have been successfully completed by our companies.” Hisarcıklıoğlu mentioned that they established the Turkey-Pakistan Chamber of Commerce Forum within the scope of our cooperation and said: “We discuss the problems experienced by our companies here and then present them to our governments in Turkey and Pakistan. My brother Professor Dr. Ömer Bolat and Amjad Rafi undertook this responsibility together. In fact, despite the pandemic, they did not break the relationship. The two kept the chamber alive and active. We complain about protectionist policies in trade. We think that protectionism will impoverish our people. We think a well-designed free trade agreement between Turkey and Pakistan would be beneficial for both countries.”

Stating that their duty in terms of investments is to attract more direct investment to the country and to make the investment environment more attractive for investors, Hisarcıklıoğlu defined the best reference for attracting new investors as “existing investors to be happy in the country”. Those who still have investments in Turkey stated that if they are happy with the legislation and practices, they will set a good example for potential investors.

Hisarcıklıoğlu said, “Therefore, my advice is to trust our countries, invest in the future of our country, produce added value and employment, and protect the investors who export.

I, as the president of TOBB, am the President of all investors in Turkey, regardless of whether they are domestic or foreign. Likewise, I believe that all our investors in Pakistan are protected by the Federation of Pakistan Chambers of Commerce and Industry and your Excellency. We also have a problem with visas.

We are friends, brothers. Should siblings go to each other's house with permission? Visa application stands before us as a serious obstacle to trade. At the very least, we need to save the business world from this visa problem. Support us. Let's invest more. Let's trade more reciprocally.

We are one of the most important suppliers of white goods, construction materials, cement, automotive and spare parts, shipbuilding industry, Europe. More than 90 percent of our exports are industrial products, and we make half of them to the countries where the competition is highest, such as Europe and the USA.

We are achieving worldwide success in tourism and overseas contracting. While our name was not heard in tourism 40 years ago, with the investments and vision of our private sector, we have entered the top 10 destinations in the world today. Turkish contracting companies are among the world's largest contractors.”

- Prime Minister of Pakistan Sharif

Pakistani Prime Minister Shahbaz Sharif, in his speech, stated that the trade volume is insufficient considering the brotherly relationship between the two countries and said, “We have everything necessary for the trade volume between the two countries to reach the level of 5 billion dollars in three years. When that happens, I'll be the happiest person.”

Sharif, who paid an official visit to Turkey at the invitation of President Recep Tayyip Erdoğan, spoke at the working lunch organized by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) at the TOBB Twin Towers at the Turkey-Pakistan Business Forum.

Sharif pointed out that the trade volume between the two countries is an insufficient figure of $ 1.1 billion, and continued:

“Unfortunately, the brotherly relationship between Turkey and Pakistan is not adequately reflected in trade relations. I know that President Erdoğan, Turkish and Pakistani businessmen are very determined to increase trade and investments between the two countries. Economic barriers between the two countries must be overcome. Whatever is needed in this regard must be done.”

Emphasizing that they aim to increase the trade volume between Turkey and Pakistan to the level of 5 billion dollars within three years, Sharif said, “We have everything necessary for this. When that happens, I'll be the happiest person. Moving forward, I will strive to contribute to everything I can about it.”

Stating that he sincerely apologized to the Turkish businessmen who were mistreated in Pakistan in the past, Sharif said, “I apologize in front of you for what happened in the past and express my sorrows. I have a hard time finding the right word, bad or inappropriate behavior. I apologize in front of you for whatever has been done against Turkish businessmen.”

- Minister of Trade Mehmet Muş

In his speech, Trade Minister Mehmet Muş reported that despite the Covid-19 outbreak, Turkey's trade with Pakistan increased by 22.5 percent compared to the previous year.

Minister Muş, stating that the trade volume between the two countries is approaching the level of 1 billion dollars, said, “In 2021, despite the Covid-19 outbreak, our trade with Pakistan increased by 22.5 percent compared to the previous year. During President Recep Tayyip Erdoğan's visits to Pakistan, a target of $ 5 billion was set. When we look at the first 4 months of this year, there is an increase of about 7 percent compared to the same period of last year. This is pleasing, but we are far behind the level.”

Muş informed that the trade agreement, the negotiations, awaited by the business world of the two countries, is nearing its end, and said that they believe that the $ 5 billion target and then the new targets will be exceeded with the said agreement.

- Minister of National Defense Akar

Minister of National Defense Hulusi Akar stated that Turkey's defense industry production has reached 80 percent in the rate of national and indigenousness and said, “Pakistan is our brothers and sisters with whom we do a lot of work in matters such as defense. Our comrades-in-arms. We have developed our cooperation with the studies, exercises and trainings we have carried out in Turkey and Pakistan. Our history, culture, past and the unity and solidarity between rights make us extremely comfortable. I want you to know that our relations at the Prime Minister's or Presidential level are extremely productive. With the work we have done both in Turkey and Pakistan, we have produced very successful solutions to our common problems and needs. Under the leadership of our President, the level we have reached as Turkey, the defense industry products we produce nationally and domestically have approached almost 80 percent. Similarly, our Pakistani brothers have a high level of defense industry capability. We support our Pakistani brothers on the Kashmir issue and our Pakistani brothers support us on the Cyprus issue.”