Sindh Board of Investment and Turkish Economic Ministry to work for enhancing investment cooperation

Karachi: Muhammad Zubair Motiwala, Chairman Sindh Board of Investment, has said that SBI and Ministry of Economy, Republic of Turkey will work together for enhancing investment cooperation between.

During official visit to Republic of Turkey along with Sindh Investment Board & trade delegation, he met officials of Turkish Ministry of Economy at their head office in Ankara. The purpose of meeting was to discuss ideas & opportunities for inward & outward investment promotion between Government of Sindh and Republic of Turkey and also highlighting issues being faced by the Pakistan businessmen in Turkey.

On the occasion, Zubair Motiwala also highlighted the 38% duty imposed by the Turkish government on the textiles products from Pakistan and on behalf of the textile association of Pakistan he submitted his plea that Turkish Government should reconsider the decision, which will further increase the confidence of Pakistani businessmen.

Chairman SBI also informed that Government of Sindh is keen to devised an implementation plan (understanding) between Government of Pakistan and Republic of Turkey for cooperation in sectors such as Energy, Health, Education, Food, Agriculture & Livestock, Mining, Urban development, Housing etc.

He further informed that Ministry of Energy, Government of Turkey has agreed to send a high level delegation to Pakistan to explore investment opportunities in Thar Coal region.

Turkish official Mr. Ugar suggested that construction and contracting services should also be added among preferred areas of collaboration between Republic of Turkey and Sindh. He added that Turkish renowned construction and infrastructure companies are interested in Sindh. An increased cooperation will improve investors’ relations between Pakistan and Turkey. Idea of development of Turkish Special Economic Zone in Sindh by Ankara Chamber of Commerce was shared, which was highly appreciated by Ministry of Economy and they extended its full support for further execution of the Project.

Earlier, Director General for Free Zones, Overseas Investment and Services, Ministry of Economy, Republic of Turkey, Ugar OZTURK welcomed the delegation and appreciated the efforts of Government of Sindh for increasing bilateral investment promotion between two regions. He informed that Turkish investors have made more than 25 billion USD investments around the world but the share of Pakistan is very meagre.

Chairman SBI explained that Sindh is full of resources and Government of Sindh is eager to initiate joint venture projects with Public & Private sector business groups of Republic of Turkey in every sector especially Thar Coal Mining and Energy, Agriculture and infrastructure development.

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