ISLAMABAD: Ambassador of Turkiye to Pakistan Dr. Mehmet Pacaci on Monday met with Pakistan’s Federal Minister for Economic Affairs Ahad Khan Cheema and discussed bilateral relations and matters of mutual interest, with a focus on elevating economic cooperation to new heights.
The Minister for Economic Affairs warmly welcomed the envoy and underlined the deep-rooted relations between Pakistan and Turkiye, which were founded on shared faith, history, and cultural affinity. He appreciated the signing of the Preferential Trade Agreement (PTA) on August 12, 2022, hailing it as a significant step forward, the Ministery of Economic Affairs said in a statement.
It said that the minister apprised the ambassador about the establishment of the Special Investment Facilitation Council in Pakistan, aimed at attracting investments from friendly nations, and highlighted the potential for Turkish investment in Pakistan, especially in Agricultural Machinery & Equipment and Large Scale Corporate Farming.
He further underlined the untapped potential in bilateral trade and investment and emphasized the significance of enhancing collaboration through Government-to-Government and Business-to-Business arrangements.
Ambassador Acknowledges Pakistan, Turkiye Relations
The ambassador thanked Cheema and acknowledged the brotherly ties between both countries.
He reiterated the importance and conveyed Turkiye’s eagerness to explore avenues for expanding bilateral trade through the High-Level Strategic Cooperation Council, the Strategic Economic Framework, and fostering cooperation in energy, commerce, railways, banking, and tourism. Notably, plans for the next session of the HLSCC, likely to convene soon, were discussed, with a focus on increasing the volume of trade to $5 billion.
Moreover, plans for the establishment of a branch of a Turkish bank in Pakistan also came under discussion in order to further solidify economic relations between the two nations.
