Turkiye Consul General Durmus Bastug has said that the setting up of the Special Investment Facilitation Council (SIFC) is a favourable step for investors as its embassy closely monitors activities of the council.

“This initiative will produce desirable results,” he said while expressing optimism.

During a meeting at the Lahore Chamber of Commerce and Industry (LCCI), the consul general voiced hope that the SIFC initiative would bring fresh investment and help resolve the issues being faced by investors.

He underscored Turkiye’s awareness of Pakistan’s potential, citing that Turkiye investors had invested around $2 billion in the South Asian nation with half of the capital going to Punjab. “The investment is expected to rise to $5 billion,” he added. The envoy stressed that they were monitoring the preferential trade agreement (PTA) with Pakistan and would move to the second phase, which was Free Trade Agreement, depending on results of the PTA.

Speaking on the occasion, LCCI President Kashif Anwar expressed keen interest in taking a reasonable share in Turkiye trade.

Published in The Express Tribune, October 14th, 2023.

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