LAHORE – Prime Minister Nawaz Sharif has invited Turkish businessmen to invest in energy, agriculture, textile, tourism and infrastructure building sectors in Pakistan. Meanwhile Pakistan and turkey have sighed three MOUs for cooperation between the two countries in different fields.
Addressing Pak-Turk Business Forum in Lahore on Monday he said his Government would ensure full protection and support to the Turkish investment.
The Prime Minister asked Turkish enterpreneurs to explore the possibility of investment in the energy sector in Pakistan which has wide-ranging potential in thermal, hydel and alternative sources.
He said Pakistan has also embarked upon an ambitious programme of infrastructure development and Turkish cooperation would be welcome. He said the programme includes construction of motorways, highways, airports, theme parts and Economic Corridor linking Pakistan and China.
The Prime Minister noted that Turkish businessmen have expressed their desire to invest in Diamer-Bhasha and Bunji dams, Lahore-Karachi motorway and Gaddani Power Park.
He said Board of Investment of Pakistan is also working with Pak-Turkey Business council in promoting cooperation in textile, automobile and communication sectors.
He said there is vast potential in tourism development in Pakistan and Turkish firms can join their Pakistani counterparts for the purpose.
Mian Nawaz Sharif also recounted the incentives that Pakistan offers to foreign investors including repatriation of the capital, profit, and tax breaks, concessions in custom duties and special economic zones where one window facility is offered.
The Prime Minister said economic prosperity of people remains the top priority of the present government. He said our economic framework is based on sound macro-economic policies and accelerated economic growth, alleviate poverty and creating new jobs.
Addressing the Pakistan-Turkey Business Forum, Turkish Prime Minister Recep Tayyip Erdogan said Turkey attaches great importance to its relations with Pakistan.
He said Turkey will take benefit of investment opportunities in Pakistan.
The Turkish Prime Minister said with the visit of Turkish businessmen to Pakistan, a new chapter of trade will be opened between the two countries.
He said he is thankful of the Pakistan Government for encouraging the Turkish businessmen. He said people of Turkey and Pakistan are brothers and the Turkish people takes Pakistan as their second home.
Recep Tayyip Erdogan said Turkey wants to enhance trade volume with Pakistan. He said his country to increase cooperation between Turkey and Pakistan in different fields including agriculture and tourism.
Three MOUs were signed on the occasion for cooperation between the two countries in different fields.
Meanwhile Chief Minister Punjab Mian Shahbaz Sharif recalled the close and historic bonds between the two countries but emphasized the need to go beyond to forge a strong economic partnership to the mutual advantage.
He said Turkey has achieved all round progress and Pakistan has much to learn from the brotherly country.
He pointed out that there was time when exports of the two countries stood at the same level of four billion dollars but now Turkey has achieved the miraculous export figure of 150 billion dollars through hardwork and innovations.
He thanked Turkey for extending meaningful assistance in the implementation of Metro Bus project in Lahore.
Addressing Pakistan-Turkey Business Forum in Lahore this evening, Finance Minister Ishaq Dar said the structural reforms and the macro economic stability programme of the government have shows impressive results during the last five years.
He said tax collection grew by 17%; 7% increase in remittances and stock market capitalization increased by 22 percent.
The Finance Minister said international credit rating agencies are projecting positive outlook for Pakistan and all major donors including IFC, OPIC, World Bank, Asian Development Bank and Islamic Development Bank are happily dealing with Pakistan.
He pointed out that Pakistan has recently been given GSP plus status by the European Union and the country certainly has an edge over many countries of the region as far as labour cost is concerned.
Ishaq Dar said according to authentic reports, investors who invested in Chdina re thinking to relocate their businesses in this region particularly in Pakistan.
He said Pakistan has a lot of positive things to offer on the investment side, adding that it guarantees hundred percent repatriation of the capital and profit, dividends, capital gains, technical feel and royalties.