Preferential Trade Agreement: Pakistan, Turkey to expedite efforts towards early conclusion

Both Pakistan and Turkey will expedite efforts for an early conclusion of a comprehensive Preferential Trade Agreement (PTA) that will further boost commercial relations between the two countries, says a statement received here on Friday.
Board of Investment Chairman Saleem H Mandviwala held meetings with the Turkish leadership in Ankara. He was accompanied by Secretary Commerce Munir Qureshi, Ambassador of Pakistan to Turkey Muhammad Haroon Shaukat and Consul General Istanbul Dr Yusuf Junaid. Turkish Deputy Prime Minister Ali Babacan (pronounced as Ali Babajan) in his meeting with the visiting dignitary assured his government's full support in encouraging Turkish companies to invest in Pakistan. Both the leaders agreed that existing huge reservoir of emotions and goodwill between Turkey and Pakistan would certainly help in further improving economic relations.
They also discussed the Istanbul-Islamabad cargo goods train (Gul Train) and agreed that running such train on regular basis would make it a viable project. They referred to High Level Co-operation Council (HLCC) which was highest decision making forum between the two countries in the economic field.
HLCC was indeed a milestone in the history of Pakistan-Turkey relations and under this platform many agreements were signed in the economic and commercial field. The Pakistani delegation also held extensive discussions with Turkey's Deputy Minister for Economy Mustafa Server and his team. He informed that currently Turkish companies have about 365 million dollars investment portfolio in Pakistan.
Both the dignitaries noted that although bilateral trade crossed the threshold of one billion dollars last year, but concerted efforts are required to keep this momentum. They agreed that the signing of proposed comprehensive PTA would address all issues including the textile sector.
Mandviwala said he was personally in touch with the Turkish companies who had investment projects in Pakistan or who were planning to come and invest in Pakistan. He informed that he would be meeting with many such investors in Istanbul. Mandviwala said Pakistan would encourage investment in steel sector and invited steel manufacturers to consider establishing world class steel plants in Pakistan.-PR