LAHORE           -         Welcoming visit of Turkish President Recep Tayyip Erdogan to Pakistan, Lahore Chamber of Commerce & Industry has hoped that it would prove another milestone in further cementing the bilateral ties and cooperation between the two countries in diverse fields.

In a statement issued on Thursday, LCCI President Irfan Iqbal Sheikh said that Turkey was a time-tested friend and a very important partner of Pakistan in economic development and bilateral trade.

He said that Pakistan and Turkey have long historical ties and both the countries have been cooperating with each other since long.

He said that governments as well as the private sectors of the two countries were taking keen interest in developing close relations between Pakistan and Turkey.

He said that Free Trade Agreement between the two countries could help increasing the bilateral trade to USD 5 billion.

In order to achieve this objective, elimination in tariffs along with the concerns regarding non-tariff barriers needed to be addressed.

He said that Pakistan was known worldwide for producing unique variety of carpets, which includes both machine made and hand knotted.

Similarly auto parts manufacturers of Pakistan were producing wide variety of spare parts which could be exported to various destinations in Turkey.

LCCI Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad were optimistic that the visit of Turkish President would encourage Turkish firms to invest in Pakistan.

For example, the power sector, oil & gas exploration, leather industry, sports goods, auto parts were some areas which may attract Turkish investors.

They said that Turkey could take advantage of Pakistan’s economic potential and its geo-strategic location.