LAHORE: President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik Tuesday said that bilateral trade between Turkey and Pakistan could swell to $5 billion annually within comfort zone from existing mark of $1.1 billion by fully exploiting the untapped vast potentials of either sides. Talking to a delegation of young educated women entrepreneurs led by Ms Rameen Kashif, recipient of best CEO award here today he said during the last 25 years, the export of Pakistan to Turkey has been increased at an annualised rate of only 4.01% from $148m in 1995 to $394m in 2020 which he added now touched the figure of $1.1bn after stagnant for a decade that can be enhanced to $5b annually.

He said the efficient land based shipping between two countries has now improved bilateral trade which needs to be geared up in the days to come by restoring the confidence of importers, exporters and investors. He said Turkey has much stronger industrial base compared to Pakistan and the interests of the Pakistani manufacturing sector especially in auto assembly and autos parts industry needs to be guarded. Iftikhar Ali Malik said Turkey and Pakistan both big Muslim countries with mutual understanding can increase bilateral commercial and economic ties fully realising their immense potential. He said during last visit of Turkish President Recep Tayyip Erdogan to Pakistan , Ankara and Karachi agreed to formulate a declaration of an economic framework to increase bilateral trade volume to $5 billion. He said Pakistani exporters must encash the sincere offer by exploring hidden untapped Turkish markets.