Tayyib Erdogan, a Turkish President, is all set to visit Pakistan for two days accompanied by a delegation of business leaders. This trip is expected to thoroughly serve business-to-business (B2B) purposes. The export and import ratio might flourish on both sides.
Today these B2B interactions will begin as revealed by a senior official at Commerce Ministry. The Turkish President would address the Joint Parliament Session.
Erdogan will be visiting Pakistan for the second time since he became the president in 2014. He has visited twice while holding the position of Prime Minister. Pakistani Businessmen will have meetings with 100 Turkish Delegates representing 60 companies.
These business-to-business meetings will focus on tourism, construction, food, livestock and export, airways, real state, consultancy trade, shipping, automotive tractor, real estate, and engines.
It was also revealed that the six-round Pakistan-Turkey High-Level Strategic Cooperation Council (HLSCC) will be held. This mechanism is the highest level of political consultation which Turkey has with other countries. These HLSCC work through Joint Working Groups which were formed for Pakistan in 2010.
Now, these JWGs will hold their meetings discussing i) Trade and Investment; ii) Energy; iii) Transport and Communication; iv) Culture and Tourism; v) Education, and vi) Finance and Banking according to The Express Tribune.
The textile exports have suffered between the two countries because of the protective duty imposed by Turkey which was up to 18%. This has led to a drop in trade volume from $1.08 billion to $792 million. However, this visit might open new opportunities as they expect.