A huge potential for investment by Turkish ship liners in Pakistan

A huge potential for investment by Turkish ship liners in Pakistan

Islamabad: 19 May, 2020

Turkish Ambassador to Pakistan İhsan Mustafa Yurdakul called on Federal Minister for Maritime Affairs Syed Ali Haider Zaidi discuss widening the Pak-Turkish cooperation maritime sector. The new shipping policy includes tax exemptions for newly acquired ships, hence carrying a huge potential for investment by Turkish ship liners in Pakistan.

Since the Turkish Minister for Transportation Mr. Cahit Turhan supported the proposal for Visa facilitation to Pakistani seafarers during his visit to Pakistan in February 2020, the matter was also brought into discussion. Pakistan is also expected to benefit from the vast experience of Turkish ship building and maintenance of pilot boats and tug boats. Further SOPs are underway to attract Turkish collaboration in the Maritime Services company in the domain of dredging etc.

Materializing the vision of Minister for Maritime Affairs to turn Pakistan into Maritime Nation, Pakistan is actively developing its industrial zones ancillary to ports hence the meeting also included discussion on Pak-Turkish cooperation in development of the joint Industrial port city. The Turkish companies will benefit from establishment of industrial units in Gawadar Free Zone and Bin Qasim Industrial Zone with their products having expeditious access to eastern and western China once the CPEC is fully operational.
Report by Sohail Majeed Butt

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