Excellent potential of $ 10 bn annual trade lies between Pakistan and Turkey: Mian Zahid Hussain.

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said that Pakistan and Turkey are brotherly Muslim countries.

Relations between the peoples and the governments of the two countries are based on a common cultural and religious heritage. Both countries unconditionally cooperated with each other at the multilateral forums including at the United Nations, Organization of Islamic Cooperation, Economic Cooperation Organization and other relevant forums. Turkey has always supported Pakistan's stance on Kashmir dispute to be resolved in accordance to the charter of United Nations and both countries stood firm with each other in the time of need.

The Veteran Business Leader while talking to the business community said that there is huge trade potential of almost $ 10 billion between both countries while current trade is approx. $ 500 million. In December 2013, EU granted GSP+ status to Pakistan wherein it was expected that Turkey will also do the same, but Turkey proposed FTA between both countries and negotiation started in 2015. A total seven rounds of negotiations have taken place till 2018 wherein both countries are agreed to reduce customs and regulatory duties by 85 percent but the agreement could not completed yet. Government needs to take measures for early signing of FTA and ensure that the agreement must support the purpose of increasing Pakistan's exports. FPCCI could not...