Pakistan’s energy sector, with its vast potential in hydel, thermal, coal, wind, and solar areas, could prove ideal for Turkish investors, he says.
PM Shehbaz Sharif on Wednesday invited Turkish businessmen to explore Pakistan’s diverse sectors, particularly the energy sector, which offers immense opportunities and scope for development.
The prime minister addressed the Pakistan-Turkey Business Council under the DEIK – Foreign Economic Relations Board, where he said Pakistan’s energy sector, with its vast potential in hydel, thermal, coal, wind, and solar areas, could prove ideal for Turkish investors.
PM Sharif said a number of leading Turkish investors had already made investments in Pakistan and assured them of full cooperation by his government to pursue their projects.
He said, given the growing energy needs and high global energy prices, Pakistan direly needed improvement in its energy sector and emphasised that Turkish investment would be a win-win situation.
He said that Turkey could help Pakistan save water by teaching them how to build and run dams.
In giving an overview of the economic and investment opportunities in Pakistan, the prime minister highlighted his focus on energy, housing, textiles, infrastructure development, agro-based industry, and oil and gas sectors.
He said Pakistan-Turkey relations are built on unbreakable bonds of love, affection, and respect as the two countries share a history, century-old tradition, and common aspirations.
He mentioned that the two nations always stood with each other at all times, and added that their relations were marked by extreme cordiality and exceptional mutual trust.
Investment Ties between Pakistan and Turkey
PM Sharif said Pakistan and Turkey must engage with renewed resolve and commitment to build upon this solid foundation, to take this relationship to new heights, particularly in the vital fields of commercial, economic, and investment cooperation.
He also emphasised that Turkish textile companies could explore the sector for joint ventures, especially for intra-industry trade as well as becoming partners in regional and global value chains.
He also invited Turkish firms involved in the agro-industrial sector and dairy farming, stating that there were plenty of opportunities in these sectors.
The prime minister stressed that Pakistani and Turkish companies could also work together in the oil and gas sector. They could collaborate not only in exploration and production but in building refineries and pipelines, he said.
Shehbaz Sharif highlighted the priorities of his government, saying that addressing the challenges of industrial sustainability, particularly in view of the global fourth industrial revolution, was significant.
He said Pakistan, with its huge youth bulge, could undergo remarkable progress and development in various sectors of public importance.
At the meeting, Foreign Minister Bilawal Bhutto Zardari, Minister for Commerce and Investment Syed Naveed Qamar, and Minister for Information and Broadcasting Marriyum Aurangzeb were present.
