Turkey, Economy

No one has regretted investing in Turkey: President

Turkish President Erdogan says Turkey's direct investment in Pakistan is almost $500M

Dilara Hamit   | 14.02.2020
No one has regretted investing in Turkey: President

ANKARA 

Turkey's president on Friday attended a joint session of Turkey-Pakistan Business Forum in Pakistani capital Islamabad.

During the forum, Recep Tayyip Erdogan said no one -- who trusted to invest and trust Turkey -- has regretted it so far.

The current trade volume of $804 million between Pakistan and Turkey is not sufficient, Erdogan noted, adding that the bilateral trade volume must first rise to 1$ billion and then raise its target to $5 billion.

Erdogan also said Turkey's direct investment in Pakistan is about $500 million, and that the companies work in a way worthy of the Turkey-Pakistan friendship, serving Pakistan.

"Our cooperation in the field of defense industry is deepening in Pakistan, and in the field of contracting, Turkish companies have undertaken 68 projects worth more than $3.5 billion in Pakistan so far," he said.

He added that there were important infrastructure and energy projects among these and that Turkey had contractors who can be in solidarity with Pakistan in hydroelectric power plants because they have the infrastructure.

Referring to the energy projects, Erdogan said that it will be very useful to implement projects on electric power transmission that will connect Pakistan with the Central Asian geography, and on natural gas pipelines connecting Turkmenistan, Afghanistan, and Pakistan.

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