Sample Solution

n April 1998, Turkish Foreign Minister Visited Islamabad and stated that,’The trade volume of the two countries with the rest of the world is some $100 billion, Unfortunately the annual trade between them is just $ 150 million, which is very small as compared to their total world trade figure and the very close political ties that the two countries enjoy’ (The Nation April 3, 1998)
An Overview of Turkey Trade in 1990’s
In the decade of Nineteen hundred nineties the commercial tendencies between these two brotherly states was on mounting tendency. The exports from Pakistan to Turkey were increased from Rs. 1866 million to Rs. 3162 million in the year 1990-91 to 1999-2000. Imports from Turkey to Pakistan also enhanced from Rs. 1111 million to Rs. 5516 million during that period. It proved that during this decade export between these two partner countries was on growing tendency with the deficit balance was Rs. 4677 million. Turkey remained the major trade partner of Pakistan in whole era. The major export items of Turkey to Pakistan among others industrial goods (especially communications material like cables, etc. chemicals and food stuff). Pakistani exports to Turkey were consisted of cotton yarn and other textile products mainly. It was also observed that level of commercial exchanges does not reveal the real trade potential between two countries. Trade of Turkey with Pakistan was very nominal, considering its 1996 level of trade volume amounting to US $ 64 billion. Turkey produced much stuff that could be appealing for the Pakistani markets. In this regards its worth mentioning that goods, especially electronic appliances for home use like T.V. sets, refrigerators, washing machines etc. which were exported by Turkey to many European, Gulf and other countries. They are quality products with normal prices. On the other hand, Turkish automobiles industry is flourishing with eight prominent multinational companies manufacturing more than 200,000 vehicles a year in the country (Sheikh, 2002).

Chapter 4: Pakistan-Turkey economic, trade and inves