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Pakistan, Turkey to boost bilateral trade

The Express Tribune - 02 June 2022

Pakistan, Turkey to boost bilateral trade

Pakistan and Turkey agreed on Wednesday to constitute a joint task force under the coordination of their commerce and trade ministries to develop a comprehensive road map, covering the issues connected to bilateral trade.

The joint task force under the Turkish Ministry of Trade and the Ministry of Commerce of Pakistan would cover areas, including logistics, banking, customs and agriculture. The agreement was reached in a meeting between Prime Minister Shehbaz Sharif and Turkish Trade Minister Dr Mehmet Mus.

During the meeting, the prime minister underscored the importance of deepening economic engagement and realising the true potential of business, trade and investment between Pakistan and Turkey.

Underlining the need for increasing the bilateral trade, Shehbaz highlighted the importance of early finalisation of Trade in Goods Agreement, which would open up new opportunities to boost bilateral trade across various sectors to the benefit of both economies and countries.

The prime minister also noted that the connectivity projects between Pakistan and Turkey, in particular Islamabad-Tehran-Istanbul (ITI) Cargo Train, which would provide additional avenues for the traders on both sides to conduct business efficiently and expeditiously.

Dr Mus concurred with the Prime Minister on realising true potential of the trade between the two countries and assured of full cooperation in this regard.

Separately, in a meeting with Turkish Foreign Minister Mevlut Cavusoglu, Prime Minister Shehbaz highlighted the convergence between the two countries on a range of regional and international issues and stressed the need for continued close coordination.

While receiving the Turkish foreign minister to the meeting, Shehbaz noted that the bilateral relations were exceptionally warm as the people of the two countries shared special bonds that dated back to centuries.

Shehbaz lauded the contribution of the Turkish foreign minister in advancing the bilateral relations and appreciated his important role in strengthening existing institutional mechanisms of cooperation between the two countries.

During the meeting, preparations for the 7th session of the High-Level Strategic Cooperation Council (HLSCC) were reviewed. Also, the prime minister underscored the importance of increasing bilateral trade volume to $5 billion over the next three years.

Noting the steadfast support of the two countries for each other on issues of core interest, Shehbaz thanked Turkey for its principled policy on Jammu and Kashmir. He added that the people of Pakistan and Kashmir deeply appreciated Turkey’s support for this just cause.

On Afghanistan, the prime minister stressed the importance of addressing the dire humanitarian situation, the releasing Afghan assets to help stabilise the economy, and continuing efforts for sustainable peace and stability in the country.

 source: The Express Tribune