LCCI President, Turkish Envoy Explore Avenues to Expand Bilateral Trade

LAHORE (M.Shezad) — Turkish Ambassador to Pakistan, H.E. Dr. Irfan Neziroglu, met with Lahore Chamber of Commerce & Industry (LCCI) President Faheem Ur Rehman Saigol to discuss measures for enhancing bilateral trade and economic cooperation between Pakistan and Türkiye.

The meeting, held at the LCCI headquarters, was also attended by Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, the Acting Consul General of Türkiye in Lahore, the Commercial Counsellor, and members of the Executive Committee.

Welcoming the ambassador, Saigol said Pakistan and Türkiye enjoy deep-rooted cultural, historical, and strategic ties, noting their strong cooperation in the defense sector. He emphasized that new opportunities have emerged for joint ventures between the two countries, particularly following U.S. tariffs on Turkish products during the Trump administration.

The LCCI President called for greater business-to-business (B2B) interaction and continuous engagement between the private sectors of both countries. He appreciated Türkiye’s consistent diplomatic support for Pakistan, especially during times of regional tension.

Citing State Bank data, Saigol said that bilateral trade between Pakistan and Türkiye reached USD 908 million in 2024–25, with exports at USD 264 million and imports at USD 643 million. He stressed the goal of raising the trade volume to USD 5 billion under the Trade in Goods Agreement (2022).

Ambassador Dr. Neziroglu commended the LCCI for its “dynamic and influential role” in Pakistan’s economic growth, calling it a “school” that has produced national leaders, including two prime ministers. He reaffirmed that Pakistan and Türkiye are brotherly nations and said efforts are underway to expand the Preferential Trade Agreement (PTA) to strengthen investment and trade cooperation.

He invited Faheem Ur Rehman Saigol to lead a business delegation to Türkiye in November, noting that the Turkish government would host Pakistani entrepreneurs during upcoming trade exhibitions. Dr. Neziroglu highlighted opportunities for collaboration in energy, IT, tourism, education, mining, and the halal food sector, and expressed Türkiye’s willingness to share its advanced technologies with Pakistan.

The ambassador further emphasized diversifying trade beyond defense, identifying electronics, rice, leather, and textiles as key sectors for mutual growth. He added that Pakistan’s regional market access and Türkiye’s global trade networks could complement each other to unlock new opportunities.

LCCI Senior Vice President Tanveer Ahmed Sheikh proposed joint ventures in the automobile and industrial sectors, while Vice President Khurram Lodhi reaffirmed the Chamber’s commitment to strengthening trade and investment ties.

The meeting concluded with both sides agreeing to take concrete steps toward enhancing the Pakistan–Türkiye Preferential Trade Agreement, and to deepen cooperation in economic, technological, and cultural fields.