Pakistan, Turkey to set up Joint Task Force to boost bilateral trade; PM invites Turkish companies to invest in various sectors, emphasises taking Pak-Turk relationship to newer levels
Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan Wednesday renewed their pledge to boost the bilateral ties between the two countries to new heights.
Addressing a joint press conference after holding a tete-e-tete, PM Shehbaz said that the relationship between the two countries was embedded deep into history and shaped by shared goals. “These ties transcended times and continued from generation to generation,” he added.
He said this year, the two countries were celebrating the 75th year anniversary of the establishment of their diplomatic ties.
Terming his meeting with President Erdogan very productive, the premier expressed the hope that under the dynamic leadership of the president, the bilateral ties would scale to new heights
The Turkish president, in his remarks, said they had discussed the regional and international issues in detail.
The two sides have reaffirmed to enhance the scope of bilateral ties, he said, adding a high-level meeting would be held in Islamabad in September, which would further provide an opportunity to both countries to further foster their brotherly ties.
Earlier, the two leaders also witnessed the signing of various agreements and MoUs for enhanced cooperation in diverse areas of mutual interests including:
*Framework For Knowledge Sharing Program between the Government of Türkiye and the Government of the Islamic Republic of Pakistan * MoU on Highway Engineering between the Ministry of Transport and Infrastructure of the Republic of Türkiye and the Ministry of Communications of the Islamic Republic of Pakistan
* Joint Ministerial Statement on Developing Bilateral Trade and Economic * Relations between the Republic of Türkiye and the Islamic Republic of Pakistan.
* Technical Cooperation Protocol between the Ministry of Treasury and Finance of the Republic of Türkiye and Ministry of Finance of the Islamic Republic of Pakistan.
* Cooperation Protocol on Debt Management between the Ministry of Treasury and Finance of the Republic of Türkiye and the Ministry of Economic Affairs of the Islamic Republic of Pakistan.
* MoU between the Ministry of Environment, Urbanisation and Climate Change of the Republic of Türkiye and NAYA Pakistan Housing and Development Authority of the Islamic Republic of Pakistan on Cooperation in the field of Housing.
Earlier in the day, Minister of Trade Dr Mehmet Mus called on PM Shehbaz, during which the prime minister underscored the importance of deepening economic engagement and realising the true potential of business, trade and investment between Pakistan and Turkey.
He noted that his visit to Turkey included engagement with the Turkish business community in order to focus on strengthening trade and investment relations.
Underlining the need to increase bilateral trade, PM Shehbaz highlighted the importance of early finalisation of the 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.
It was agreed to constitute a Joint Task Force under the coordination of the Turkish Ministry of Trade and Ministry of Commerce Pakistan to develop a comprehensive road map covering the issues connected to bilateral trade, including logistics, banking, customs and agriculture.
PM Shehbaz also held a meeting with the Turkish-Pakistan Business Council under the auspices of the Foreign Economic Relations Board of Turkey. The meeting was attended by leading businessmen and investors from Turkey and Pakistan.
The prime minister invited Turkish companies to invest in Pakistan’s agriculture, industrial and information technology sectors as well as connectivity projects in Pakistan assuring them of complete facilitation and a conducive business environment.
He also held separate meetings with select leading Turkish companies that had invested in Pakistan and invited them to benefit from an investment-friendly environment and consider expanding their operations.
In a meeting with Turkish Foreign Minister Mevlüt Çavusoglu, the premier lauded his personal contribution to advancing bilateral relations and for playing an important role in strengthening existing institutional mechanisms of cooperation between the two countries.
The preparations for the seventh session of the High-Level Strategic Cooperation Council were also reviewed.
PM Shehbaz said to increase bilateral trade volume to $5 billion over the next three years. Agencies