DelhiDareDevil
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That's why you Pakistani Muslims never prospered.
Muslim countries must promote mutual trade, economic cooperation: CM
- Thread starter lem34
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That's why you Pakistani Muslims never prospered.
Turkish businessmen ready to invest in Pakistan
Convinced of opportunities in energy, textile and construction sectors
Staff Report
LAHORE: Turkish businessmen are ready to initiate joint ventures with their Pakistani counterparts as they are convinced that ample opportunities exist in a number of sectors in Pakistan including energy, textile and construction.
This was stated by Foreign Economic Relations Board of Turkey (DEIK) President Dr Akkan Suver and Turkish Industrial Association (TUMSIAD) President Ersin CENTIN while talking to a 37-member Lahore Chamber of Commerce and Industry (LCCI) delegation headed by LCCI President Irfan Qaiser Sheikh.
Former LCCI senior vice presidents Engineer Sohail Lashari and Tahir Javaid Malik also spoke on the occasion. Dr Suver said that the foremost purpose of the DEIK is to pave the way for economic, commercial, industrial and financial relations with foreign countries as well as international business communities. DEIK believes that increasing industrial cooperation, widening the foreign trade network and opening the Turkish service sector up to the global economy are essential in achieving this target.
The DEIK president said that Turkey for being second fastest growing economy of the world after China and first in the European Union has a lot to offer to their Pakistani counterparts and they should avail the available opportunities. They also called for more frequent exchange of business delegations so that both the sides could have first hand knowledge of the available opportunities in Pakistan and Turkey. They said that both the countries have marvellous untapped business potential that needs to be realized by maximizing the involvement of private sectors of the two countries. He hoped that the economic relation between the two countries would strengthen further to create a win-win situation for Pakistan and Turkey.
Speaking on the occasion, the LCCI president said the time has come that the businessmen of both the countries should enhance their bilateral relations, which will be beneficial for the people of both the countries. He said that in 1980 the Turkish exports were $ 4 billion while Pakistans were $3.81 billion and today Turkey is exporting goods worth $114 billion while Pakistans total exports are just $25 billion and Turkey has become 16th strongest economy of the world. He said, We can strengthen our economy by adopting the development and progress of Turkey as model.
Since energy is an important issue for Pakistans economic growth and Turkey has vast experience of exploiting hydro and other energy sources, both the countries should cooperate in this area on priority basis.
If we talk about the existing trade and economic potential between Turkey and Pakistan, it can be safely said that so far we have only explored it like the tip of the iceberg. The amount of our two way trade itself speaks to a great volume as it has been averaging around $655 millions from the last three years. The last year trade figures have been encouraging in a way that the bilateral first time reached to $800 million. The exports increased from $407 million to $644 million, registering 58 percent increase over the previous year. However, imports from Turkey also increased in the same period from $152 million (2009) to $156 million (2010) but the change was merely 2.6 percent.
Although the balance of trade has been in favour of Pakistan but in true sense, this favourable situation is not drawing many benefits to both the countries. In order to make most of international trade, Turkey and Pakistan should identify areas of economic cooperation in sectors like textiles with special focus on fashion apparel as Pakistans fashion industry has remarkably progressed. Others include leather & footwear, fresh fruits, sports goods and surgical items etc.
Likewise, Pakistan can identify various items with the help of Turkish exporters, which can be imported from Turkey. As Pakistan is pursuing economic development through market liberalisation, so, Turkish entrepreneurs are invited to establish a special economic zone for Turkey in Pakistan and enter into joint ventures with us. Turkey is well positioned to take advantage of Pakistans economic potential and its geo-strategic location. Let us make trade and investment, the central pillar of this cooperation. Some analysts presume that the trade volume between Turkey and Pakistan can be increased as high as $2 billion with some joint efforts made by public and private sectors of both the countries. For that matter, bilateral arrangements and early implementation of regional trade agreements such as the ECO Trade Agreement have become the need of the hour. Sheikh said that the LCCI was taking immediate and concrete steps to enhance the volume of trade between the two countries from existing $663 million to dollar two billions. He said that to achieve the target at first place focused and collaborative efforts need to be made. He said that strong linkage would be established with Turkish businessmen for having market access to Europe, North Africa and Middle East. The LCCI president said that the LCCI through its own efforts was continuously working on an agenda of closer cooperation between Turkey and Pakistan. To supplement these efforts, we have established Turkey Pakistan Business Council by signing an agreement with Foreign Economic Relations Board, Turkey. The LCCI president said that time has come for making social, cultural and economic alliances to overcome the challenges. He hoped that the delegations visit would pave the way for enhanced volume of bilateral trade between the two countries.
Daily Times - Leading News Resource of Pakistan
Be quite Hindu Indian
Number of Iranian-Funded Companies in Turkey Tops List Once Again
Saturday, 16 June 2012
The number of Iranian-funded foreign companies in Turkey rose for the fifth consecutive month this year, according to the Turkish Union of Chambers and Commodity Exchanges (TOBB), Today's Zaman reported.
A report issued by TOBB on Friday stated that 27 percent of foreign companies that were established in Turkey in May were Iranian-funded.
The report, which provides statistics of companies that were set up and closed down in May 2012, stated that 86 companies -- out of the 320 that were established with foreign partners last month -- are Iranian-funded. The report also stated that 431 Iranian-funded foreign companies had been established in Turkey in the first five months of the year. The next two foreign investors on the list were Germans, with 152 companies established this year, and Russians, with 85.
The Iranian firms in Turkey are mainly in the electricity, electronics, communications and construction sectors. According to the registry list for companies provided by the İstanbul Chamber of Commerce (İTO), more than half of the Iranian-funded companies in Turkey -- 1,200 to be exact -- are located in İstanbul. Currently, 25 percent of all foreign companies are based in İstanbul.
TOBB previously announced that 590 foreign companies had been financed by Iran in 2011, which was an increase of 41 percent compared to the previous year. This puts Iran on the top of the list of new foreign companies established in 2011, not only based on nominal figures but percentage-wise as well. As of Dec. 31, 2011, the number of companies funded by Iran totaled 2,140, with a quarter established in the last year alone.
TOBB also reported that Iran had topped the list in January with 63 new companies. However, this is not commensurate with the trade volume Iran maintains with Turkey. As of last year, trade volume between the two countries amounted to $16 billion, mostly from Iranian natural gas and oil proceeds. Turkey imports some 30 percent of its oil needs, or 200,000 barrels per day, from Iran, which represents over 7 percent of Iranian oil exports. Iran also meets a third of Turkey's natural gas demand.
In contrast, Germany, Turkey's largest commercial partner with $37 billion in non-energy trade, only established 36 companies in January.
"Some of these [Iranian] companies were established to procure goods and merchandise for the Iranian economy in clear violation of the sanctions. They use smugglers to get the merchandise across the border to Iran," a former senior executive of a Turkish company that has a multi-million dollar investment in Iran said.
Saturday, 16 June 2012
Number of Iranian-Funded Companies in Turkey Tops List Once Again, 16 June 2012 Saturday 11:41
Iran, Pakistan Resolved to Accomplish Gas Project Despite US Opposition
TEHRAN (FNA)- Iranian and Pakistani presidents underlined the two nation's resolve to accomplish a multi-billion-dollar gas pipeline project which is due to take Iran's rich gas reserves to the energy hungry Pakistan irrespective of the US pressures on Islamabad to leave the project.
The two Muslim neighboring nations' determination to expedite the gas project and also to pursue the supply of power to Pakistan was stressed in a meeting between Iran's President Mahmoud Ahmadinejad and his Pakistani counterpart Asif Ali Zardari in Beijing, where the two heads of state attended the Shanghai Cooperation Organization (SCO) Summit.
The two leaders also agreed to resolve urgently the issue of credit for the Iran-Pakistan gas pipeline to complete it expeditiously. Relevant ministers and officials from both sides will now meet to take forward the decisions taken in principle.
The two presidents also reviewed progress on various measures and strategies being adopted for full realization of the trade potential of the two countries.
Other bilateral matters and the regional situation also came under discussion. The two leaders reaffirmed their commitment for early completion of mega projects between the two countries and to expedite progress on inter- and intra-regional connectivity.
President Ahmadinejad said Tehran was ready to barter its gas and electricity for Pakistani goods.
President Zardari assured his Iranian counterpart that the use of Pakistani territory against Iran would never be allowed.
President Zardari also emphasized the early completion of mutually-agreed projects such as the construction of Naushki-Dalbandin Road, the upgrading of the Quetta-Taftan railway track and the electricity project.
On Afghanistan, President Ahmadinejad and President Zardari reaffirmed their commitment to supporting peace efforts in the neighboring country. The overall situation in the Middle East also came under discussion during the meeting.
Fars News Agency :: Iran, Pakistan Resolved to Accomplish Gas Project Despite US Opposition
Convinced of opportunities in energy, textile and construction sectors
Staff Report
LAHORE: Turkish businessmen are ready to initiate joint ventures with their Pakistani counterparts as they are convinced that ample opportunities exist in a number of sectors in Pakistan including energy, textile and construction.
This was stated by Foreign Economic Relations Board of Turkey (DEIK) President Dr Akkan Suver and Turkish Industrial Association (TUMSIAD) President Ersin CENTIN while talking to a 37-member Lahore Chamber of Commerce and Industry (LCCI) delegation headed by LCCI President Irfan Qaiser Sheikh.
Former LCCI senior vice presidents Engineer Sohail Lashari and Tahir Javaid Malik also spoke on the occasion. Dr Suver said that the foremost purpose of the DEIK is to pave the way for economic, commercial, industrial and financial relations with foreign countries as well as international business communities. DEIK believes that increasing industrial cooperation, widening the foreign trade network and opening the Turkish service sector up to the global economy are essential in achieving this target.
The DEIK president said that Turkey for being second fastest growing economy of the world after China and first in the European Union has a lot to offer to their Pakistani counterparts and they should avail the available opportunities. They also called for more frequent exchange of business delegations so that both the sides could have first hand knowledge of the available opportunities in Pakistan and Turkey. They said that both the countries have marvellous untapped business potential that needs to be realized by maximizing the involvement of private sectors of the two countries. He hoped that the economic relation between the two countries would strengthen further to create a win-win situation for Pakistan and Turkey.
Speaking on the occasion, the LCCI president said the time has come that the businessmen of both the countries should enhance their bilateral relations, which will be beneficial for the people of both the countries. He said that in 1980 the Turkish exports were $ 4 billion while Pakistans were $3.81 billion and today Turkey is exporting goods worth $114 billion while Pakistans total exports are just $25 billion and Turkey has become 16th strongest economy of the world. He said, We can strengthen our economy by adopting the development and progress of Turkey as model.
Since energy is an important issue for Pakistans economic growth and Turkey has vast experience of exploiting hydro and other energy sources, both the countries should cooperate in this area on priority basis.
If we talk about the existing trade and economic potential between Turkey and Pakistan, it can be safely said that so far we have only explored it like the tip of the iceberg. The amount of our two way trade itself speaks to a great volume as it has been averaging around $655 millions from the last three years. The last year trade figures have been encouraging in a way that the bilateral first time reached to $800 million. The exports increased from $407 million to $644 million, registering 58 percent increase over the previous year. However, imports from Turkey also increased in the same period from $152 million (2009) to $156 million (2010) but the change was merely 2.6 percent.
Although the balance of trade has been in favour of Pakistan but in true sense, this favourable situation is not drawing many benefits to both the countries. In order to make most of international trade, Turkey and Pakistan should identify areas of economic cooperation in sectors like textiles with special focus on fashion apparel as Pakistans fashion industry has remarkably progressed. Others include leather & footwear, fresh fruits, sports goods and surgical items etc.
Likewise, Pakistan can identify various items with the help of Turkish exporters, which can be imported from Turkey. As Pakistan is pursuing economic development through market liberalisation, so, Turkish entrepreneurs are invited to establish a special economic zone for Turkey in Pakistan and enter into joint ventures with us. Turkey is well positioned to take advantage of Pakistans economic potential and its geo-strategic location. Let us make trade and investment, the central pillar of this cooperation. Some analysts presume that the trade volume between Turkey and Pakistan can be increased as high as $2 billion with some joint efforts made by public and private sectors of both the countries. For that matter, bilateral arrangements and early implementation of regional trade agreements such as the ECO Trade Agreement have become the need of the hour. Sheikh said that the LCCI was taking immediate and concrete steps to enhance the volume of trade between the two countries from existing $663 million to dollar two billions. He said that to achieve the target at first place focused and collaborative efforts need to be made. He said that strong linkage would be established with Turkish businessmen for having market access to Europe, North Africa and Middle East. The LCCI president said that the LCCI through its own efforts was continuously working on an agenda of closer cooperation between Turkey and Pakistan. To supplement these efforts, we have established Turkey Pakistan Business Council by signing an agreement with Foreign Economic Relations Board, Turkey. The LCCI president said that time has come for making social, cultural and economic alliances to overcome the challenges. He hoped that the delegations visit would pave the way for enhanced volume of bilateral trade between the two countries.
Daily Times - Leading News Resource of Pakistan
Be quite Hindu Indian
Number of Iranian-Funded Companies in Turkey Tops List Once Again
Saturday, 16 June 2012
The number of Iranian-funded foreign companies in Turkey rose for the fifth consecutive month this year, according to the Turkish Union of Chambers and Commodity Exchanges (TOBB), Today's Zaman reported.
A report issued by TOBB on Friday stated that 27 percent of foreign companies that were established in Turkey in May were Iranian-funded.
The report, which provides statistics of companies that were set up and closed down in May 2012, stated that 86 companies -- out of the 320 that were established with foreign partners last month -- are Iranian-funded. The report also stated that 431 Iranian-funded foreign companies had been established in Turkey in the first five months of the year. The next two foreign investors on the list were Germans, with 152 companies established this year, and Russians, with 85.
The Iranian firms in Turkey are mainly in the electricity, electronics, communications and construction sectors. According to the registry list for companies provided by the İstanbul Chamber of Commerce (İTO), more than half of the Iranian-funded companies in Turkey -- 1,200 to be exact -- are located in İstanbul. Currently, 25 percent of all foreign companies are based in İstanbul.
TOBB previously announced that 590 foreign companies had been financed by Iran in 2011, which was an increase of 41 percent compared to the previous year. This puts Iran on the top of the list of new foreign companies established in 2011, not only based on nominal figures but percentage-wise as well. As of Dec. 31, 2011, the number of companies funded by Iran totaled 2,140, with a quarter established in the last year alone.
TOBB also reported that Iran had topped the list in January with 63 new companies. However, this is not commensurate with the trade volume Iran maintains with Turkey. As of last year, trade volume between the two countries amounted to $16 billion, mostly from Iranian natural gas and oil proceeds. Turkey imports some 30 percent of its oil needs, or 200,000 barrels per day, from Iran, which represents over 7 percent of Iranian oil exports. Iran also meets a third of Turkey's natural gas demand.
In contrast, Germany, Turkey's largest commercial partner with $37 billion in non-energy trade, only established 36 companies in January.
"Some of these [Iranian] companies were established to procure goods and merchandise for the Iranian economy in clear violation of the sanctions. They use smugglers to get the merchandise across the border to Iran," a former senior executive of a Turkish company that has a multi-million dollar investment in Iran said.
Saturday, 16 June 2012
Number of Iranian-Funded Companies in Turkey Tops List Once Again, 16 June 2012 Saturday 11:41
Iran, Pakistan Resolved to Accomplish Gas Project Despite US Opposition
TEHRAN (FNA)- Iranian and Pakistani presidents underlined the two nation's resolve to accomplish a multi-billion-dollar gas pipeline project which is due to take Iran's rich gas reserves to the energy hungry Pakistan irrespective of the US pressures on Islamabad to leave the project.
The two Muslim neighboring nations' determination to expedite the gas project and also to pursue the supply of power to Pakistan was stressed in a meeting between Iran's President Mahmoud Ahmadinejad and his Pakistani counterpart Asif Ali Zardari in Beijing, where the two heads of state attended the Shanghai Cooperation Organization (SCO) Summit.
The two leaders also agreed to resolve urgently the issue of credit for the Iran-Pakistan gas pipeline to complete it expeditiously. Relevant ministers and officials from both sides will now meet to take forward the decisions taken in principle.
The two presidents also reviewed progress on various measures and strategies being adopted for full realization of the trade potential of the two countries.
Other bilateral matters and the regional situation also came under discussion. The two leaders reaffirmed their commitment for early completion of mega projects between the two countries and to expedite progress on inter- and intra-regional connectivity.
President Ahmadinejad said Tehran was ready to barter its gas and electricity for Pakistani goods.
President Zardari assured his Iranian counterpart that the use of Pakistani territory against Iran would never be allowed.
President Zardari also emphasized the early completion of mutually-agreed projects such as the construction of Naushki-Dalbandin Road, the upgrading of the Quetta-Taftan railway track and the electricity project.
On Afghanistan, President Ahmadinejad and President Zardari reaffirmed their commitment to supporting peace efforts in the neighboring country. The overall situation in the Middle East also came under discussion during the meeting.
Fars News Agency :: Iran, Pakistan Resolved to Accomplish Gas Project Despite US Opposition
ashok321
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Ohh so this sharif takes off on this topic after knowing that india n iran are doing trade on rupee exchange - so now pakistan wants the same treatment.....
Beside, GCC already has free trade pact among its members, but pakistan n other islamic nations dont have entry.....
Beside, GCC already has free trade pact among its members, but pakistan n other islamic nations dont have entry.....
Its better to support muslims, when we buy or do business ee should try for muslims first cuz
If muslims make profit he will spend on masjid, zakat, and many other thing to support and promote religion where as with non muslims vice versa.
Muslims are brothers, we got affection and love and affliliation which is natural so we should give benefits to each other first
If muslims make profit he will spend on masjid, zakat, and many other thing to support and promote religion where as with non muslims vice versa.
Muslims are brothers, we got affection and love and affliliation which is natural so we should give benefits to each other first
Minister invites Iranian entrepreneurs to invest in Turkey
Ankara, June 16, IRNA – Turkish Minister of Planning Jodat Yilmaz invited Iranian entrepreneurs to make investments in his country.
In an exclusive interview with IRNA here on Saturday, Yilmaz, who is the Turkish head of Iran-Turkey Joint Economic and Trade Commission, outlined the latest developments in bilateral economic relations, the prospect of joint activities and the existing obstacles in the way of further expansion of economic ties between the two countries.
Referring to both Iran and Turkey as two powerful regional countries, he said the two nations enjoy friendly relations.
Lauding good economic conditions in the two countries, he regretted that the two nations lacked the ideal level of economic and trade ties.
As to the growing trend of trade exchanges between the two countries in the past years, the minister reiterated that leaders of both countries are seriously determined to boost economic ties. He added that despite all efforts, the number of Iranian companies currently active in Turkey is unfortunately very low.
The Turkish minister stressed that enhancing ties between the two countries would benefit not only the two nations but also the whole region.
Minister invites Iranian entrepreneurs to invest in Turkey
Ankara, June 16, IRNA – Turkish Minister of Planning Jodat Yilmaz invited Iranian entrepreneurs to make investments in his country.
In an exclusive interview with IRNA here on Saturday, Yilmaz, who is the Turkish head of Iran-Turkey Joint Economic and Trade Commission, outlined the latest developments in bilateral economic relations, the prospect of joint activities and the existing obstacles in the way of further expansion of economic ties between the two countries.
Referring to both Iran and Turkey as two powerful regional countries, he said the two nations enjoy friendly relations.
Lauding good economic conditions in the two countries, he regretted that the two nations lacked the ideal level of economic and trade ties.
As to the growing trend of trade exchanges between the two countries in the past years, the minister reiterated that leaders of both countries are seriously determined to boost economic ties. He added that despite all efforts, the number of Iranian companies currently active in Turkey is unfortunately very low.
The Turkish minister stressed that enhancing ties between the two countries would benefit not only the two nations but also the whole region.
Minister invites Iranian entrepreneurs to invest in Turkey
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