Pakistan‚ Turkey for PTA to promote bilateral trade ties

Eurasia News

ISLAMABAD: Pakistan and Turkey on Tuesday agreed to conclude preferential trade agreement (PTA), an economic framework that will significantly contribute to trade facilitation between the two friendly Muslim countries.

The understanding came at a meeting held in Islamabad on Tuesday between Pakistan’s Prime Minister Nawaz Sharif and his Turkish counterpart Recep Tayyip, who is on a two-day official visit to Pakistan.

Later in a press stake out along with his Turkish counterpart‚ the Pakistani premier said that both the sides have agreed to intensify cooperation in the sectors of energy‚ urban and infrastructure development and housing.

The Pakistani prime minister termed the Turkish Prime Minister’s visit to Pakistan as a milestone in bilateral relations between the two countries.

Sharif said that the strong business delegation accompanying prime minister Erdoğan is an affirmation of the confidence that Turkish companies have in business opportunities in Pakistan.

The premier said that we have just concluded a comprehensive review of our bilateral relations as well as regional and international issues of mutual concern. He said their discussions were marked by unanimity of views on all issues.

Nawaz Sharif said that two sides have also signed a number of Memorandums of Understanding (MOUs) which includes making Islamabad-Tehran-Istanbul ECO Container train operative. Regular operations of the train will harness greater economic integration between the region and beyond.

The prime minister expressed the confidence that our interactions of today would further intensify the cooperative partnership between the two countries.

In his remarks‚ the Turkish prime minister said that we attach great significance to bilateral visits in order to enhance cooperation in different fields. He said that our political relations with Pakistan are gaining strength to achieve the desired objectives.

The Turkish prime minister said that we want to enhance cooperation with Pakistan in the areas of aviation‚ railways and maritime. He said that we plan to open a new consulate in Lahore, adding that these steps will help cement our relations in future.

The two countries signed two MoUs in Islamabad today for cooperation in different sectors. One related to cooperation in sports and the other to coping with the natural disasters.

The prime ministers of both the countries witnessed the signing ceremony.

Earlier‚ Prime Minister Nawaz Sharif and Turkish Prime Minister Recep Tayyip Erdogan held talks at the prime minister house in Islamabad and discussed the entire gamut of bilateral relations with particular focus on promoting trade and economic cooperation.