Economic ties between Pakistan and Turkey have always been very strong and the countries with an on going process of flourishing trade are seeking to boost trade to US $1 billion.
Bilateral trade between the two countries increased to $600 million in 2006 compared to the $130 million of 2001. However, the countries still believe that the soaring trade would not bring satisfaction unless the target of $1 billion is reached.
Turkey who is already recognized as the 17th largest economy in the world with GDP crossing $400 billion, aims to become one of the top 10 economies reaching a GDP per capita income of $10,000.
Sources inform that currently, the total foreign trade of Turkey has reached $250 billion in 2007 out of which export accounted for $100 while the export target for 2010 is expected to be $200 billion. Additionally, the average inflow of foreign direct investment in Turkey amounted to more than $50 billion during the period 1980-2006.
Trade potential of the countries is phenomenal especially in areas like machinery, textiles and clothing, natural stones and jewelry. Karachi on the other hand is also developing at a rapid pace and it is expected that the two countries would surely take efforts to thrive their respective countries through mutual support and collaboration.
marketing@alchempro.com
