LAHORE - Punjab Industrial Estates has decided to provide free of cost land to Turkish investors for setting up their industrial units in the province of Punjab. The PIE will develop these plots and build complete infrastructure like roads, sewerage, water and other facilities. According to a press release, this decision was announced in a memorandum of understanding signed between Punjab industrial estates in Punjab and Keseri Industrial estate in Turkey. On behalf of Punjab Industrial Estates the chairman PIE S.M Tanveer and on behalf of Keseri industrial estates its chairman signed the document. Later the Chairman PIE, S.M Tanveer said the Turks investors have shown their keen interest for investment in Pakistan in different fields like leather, construction and other sectors as people of both the countries rooted relations between them since centuries. He said that Pakistan has a lot many opportunities for Turk investors, as cheep raw material was available to them as compared to other markets of the regions. S.M Tanveer said that provision of free of cost land to Turks investors by the chief minister Punjab, Mian Muhammad Shahbaz Sharif would go a long way as this step would help strengthen the relations existed between the two countries. Map of the two countries, continue to be the same for many years and no major breakthrough has occurred to counter it. He invited the Turkish businessmen to invest in Pakistan in general and in the province of Punjab in particular owing to its investment friendly pro-active policies. He said there was no limit on foreign equity and foreigners could transfer capital, profits and dividends to their country. No permission is required to establish industry in Pakistan by the foreign investor. He said the Pakistan and Turkey, for having a lot of potential, could join hands in various sector in including engineering, automobiles, textiles and infrastructure development for the mutual benefit of the two countries. He said Pakistan and Turkey were tied with each other by centuries old historical linkages and enjoy excellent diplomatic relations based on political and religious consideration although both countries dont share borders but the relations between us are exemplary. He said that the global scene calls for closer relations among countries for solution of their problems. He said that in the last five years that trade between Turkey and Pakistan has shown many fluctuations through the balance remained in favor of Pakistan. The average trade volume, during the year 2008 has been hovering around $607 million. Value of Pakistans exports to Turkey averaged around $470 million, whereas, imports from Turkey averaged around US$ 136 million.