Prime Minister Shehbaz Sharif is actively seeking to attract Turkish investors and businessmen to expand their investment in various sectors of Pakistan. During his visit to Turkey for President Recep Tayyip Erdogan’s swearing-in ceremony, PM Sharif held separate meetings with representatives from several companies, emphasizing the potential for investment and job creation in Pakistan.
Establishing Strategic Collaboration in Key Sectors
PM Shehbaz Sharif emphasized the importance of strategic collaboration in key sectors such as energy, agriculture, information technology (IT), and construction. The discussions focused on expanding trade and investment ties between the two countries to maximize mutual gains and promote economic cooperation. PM Sharif encouraged Turkish enterprises to establish a direct presence in Pakistan or form joint ventures with Pakistani counterparts, providing a platform for long-term growth and prosperity.
Leveraging the Trade in Goods Agreement
It is worth noting that Pakistan and Turkey signed the historic ‘Trade in Goods Agreement’ in August of last year, which became operational on May 1. This agreement has opened up new opportunities for the trade of both traditional and non-traditional products between the two nations. To fully utilize these opportunities, PM Sharif urged Turkish companies to invest in Pakistan, assuring them of complete facilitation and a conducive business environment.
Prominent Turkish Companies Express Interest
PM Shehbaz Sharif also engaged with leading Turkish companies, including Arcelik, Zorlu, Albayrak, Limak, Dolsar, Anadolu Group, Turkish Contractors Association, and Pak Yetirim, to discuss their existing and future investment plans.
- Arcelik and Zorlu Group: Discussions were held regarding projects related to wind power, solar energy, and other renewable energy sources.
- Al-Bayrak Group: Ahmet Albayrak, Chairman of the Board of Directors, expressed interest in investing in affordable housing projects, solid waste management, electricity generation from waste, and the tractor industry. PM Sharif commended the projects proposed by the Al-Bayrak Group.
- Turkish Contractors Association: The delegation, led by President Erdal Eren, explored investment prospects in Pakistan’s construction sector. PM Sharif expressed the government’s support for foreign investment in this field.
- Dolsar Engineering: Chairman Irfan Aker highlighted the company’s keen interest in expanding investment in Pakistan’s energy and construction sectors.
- Limak Holdings: Chairperson Ebru Ozdemir met with PM Shehbaz Sharif to discuss potential investments in Pakistan’s diverse areas, including energy, infrastructure, tourism, and construction.
Unlocking the Potential for Growth
The meetings between PM Shehbaz Sharif and the representatives from Turkish companies have demonstrated the strong commitment to fostering bilateral ties and exploring investment opportunities. By attracting foreign investment, Pakistan aims to stimulate economic growth, create employment opportunities, and enhance technological advancements in various sectors. The government is dedicated to providing a favorable business environment and ensuring complete facilitation for foreign investors.
In conclusion, Prime Minister Shehbaz Sharif’s visit to Turkey has served as a platform for strengthening economic cooperation between Pakistan and Turkey. The discussions with Turkish investors and businessmen have showcased the immense potential for mutually beneficial partnerships in key sectors. By fostering strategic collaboration and attracting foreign investment, Pakistan aims to achieve sustainable development and further enhance its position as an attractive investment destination.