Pakistan, Turkey vow to boost trade upto $3 billion

ISLAMABAD: Pakistan and Turkey on Tuesday agreed to work towards a Free Trade Agreement (FTA) to enhance bilateral trade to $3 billion in two years.

Addressing a joint press conference here today, Prime Minister Nawaz Sharif and his Turkish counterpart Ahmet Davutoglu also vowed to boost bilateral trade to $10 billion dollars in the next few years.

Both sides have agreed to give a central thrust to bilateral trade and investment cooperation, Prime Minister Sharif said in his remarks to the press.

During the Turkish PM’s visit to Islamabad, the two countries also signed 11 documents of mutual cooperation and Memoranda of Understandings in the field of oil and gas, commerce, communications and scientific cooperation.

The Turkish Prime Minister announced an additional support of $20 million for internally displaced persons and the flood affected people of Pakistan.

According to a joint statement, leaders of both countries strongly condemned the defamation campaign against the Holy Prophet Muhammad (peace be upon Him) and the religion of Islam.

The two countries reaffirmed their resolve to fight extremism and terrorism in all forms and manifestations and called for criminalization of all acts of Islamophobia.

The two leaders also discussed the situation in the region particularly with reference to the transition in Afghanistan.


’Indispensable partners’

At the joint press conference, Prime Minister Nawaz Sharif said that Pakistan and Turkey were indispensable partners as they were working together for peace.

Following the signing of eleven agreements and MoUs between the two countries, PM Nawaz thanked the Turkish leadership and people for their support through difficult times.

He went on to say that the unique nature of partnership which had the commonality of faith and culture was reinforced by shared democratic values.

He further said that security, defence and counter-terrorism cooperation remain strong between the two countries.

PM Davutoglu said that despite being geographically distant Pakistan and Turkey enjoyed an exemplary relationship.

He further said that Turkey wanted to make the brotherly relationship with Pakistan as result oriented as possible.

He said that every Turkish prime minister considered it his duty to visit Pakistan on priority basis and that Turks consider Pakistan as their second home.