The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and the Union of Chambers and Commodity Exchanges of Turkey (TOBB) on Saturday signed a memorandum of understanding (MoU) for establishing Turkish-Pakistan Chamber of Commerce and Industry (TPC) at Istanbul, Turkey on the occasion of 32nd Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference on “Asia: Expanding Boundaries”.

The MoU was jointly signed by Senior Vice President FPCCI Syed Mazhar Ali Nasir and President TOBB Rifat Hisarciklioglu in the presence of President CACCI Jemal Inaishvili. The objective of establishing of TPC is to further strengthen economic relations through dialogue on trade and economic matter of common interest, enhancement of investment and financial flows, exchange of delegations, holding of joint activities etc. Moreover, the agreement will streamline the mechanism to expand trade facilitation.

Speaking on the occasion, FPCCI SVP Syed Mazhar Ali Nasir said that the establishment of TPC is the accomplishment of long desire of business community of both the countries and will go a long way in enhancement of bilateral trade and investment relations between both the nations as it is not up to its actual potential as evident from the fact that currently, the volume of trade between both nations stood at $596.07 million in 2017 which is just 0.15 percent of the total trade of Turkey.