LAHORE: Islamabad-Tehran-Istanbul Road Transport Corridor, in conjunction with the Chinese One Belt, One Road (OBOR) project would prove to be a game changer in promoting regional trade among the four friendly nations of the region.
It was stated by Pak-China Joint Chamber of Commerce and Industry (PCJCCI) President Mr. Wang Zihai stated this in a thin-tank meeting on Pak-Turkey-China Tripartite Trade here Thursday. The meeting was also attended by PCJCCI Senior Vice President (SVP) Ehsan Choudhry, Vice President (VP) Faraz Butt, Secretary General Salahuddin Hanif and a number of the Executive Committee Members.
PCJCCI President acknowledged that Turkey, like China, had been an all-weather friend of Pakistan and the friendly relationship has further been foster under the leadership of Pakistan’s Prime Minister Imran Khan and Turkey’s President Recep Tayyip Erdogan.
He observed that Pakistan was now more integrated into international trade because of CPEC and OBOR projects, which have created new opportunity for Turkey as well. Turkey’s exports to China would be able to route through Pakistan towards china, he said, adding that Islamabad-Tehran-Istanbul Road Transport Corridor Project was successfully carrying commercial cargo on Pakistani trucks to Turkey and vice-versa up to Chinese markets.
On this occasion, the SVP Ehsan Choudhry said that both countries share positive trade relations and the investments by Turkish companies in Pakistan have increased by over US $ one billion.
The two countries also signed a Strategic Economic Framework agreement that covered a broad spectrum of cooperation in science and technology, defense, tourism, education, and health. He said that PCJCCI would enhance Chinese investment in these sector to create a sustainable economic triangle amongst the three friendly states.
The VP Faraz Butt said that despite of recent economic initiatives, Pakistan should take additional steps to re-prioritize this essential aspect of the bilateral equation with Turkey. Successful completion of ongoing projects with Turkey such as the Trans-Afghan Railway project, CASA-1000, and Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline could significantly improve Pakistan’s connectivity with Western Asia and Europe, he said and urged to exploit such projects in conjunction with One Road, One Belt (OBOR) project of China.
Salahuddin Hanif shared his views by saying that Pakistan’s economic woes were no longer simply a domestic issue but a foreign policy challenge. Considering that Turkey was such a close ally, where President Erdogan has addressed the parliament four times, exploring an economic dimension within the bilateral relationship makes sense.