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Summary Pakistan and Turkey have decided to open banks in two countries to boost bilateral trade.
The two sides reached the understanding at 14th session of Pak-Turkey Joint Ministerial Commission (JMC) meeting of trade ministers on Monday.The Pakistani Commerce Minister, Makhdoom Amin Faheem and Turkish minister for Development and environment lead the ministerial talk.Both countries have also decided to extend the cooperation in the field of alternate energy, banking, investment, energy, petroleum, railway and agriculture.Two ministers have also decided to establish six working groups those would be responsible for the implementation and progress on the bilateral cooperation.Turkish minister while speaking at the meeting said that the volume of investment from Pakistan in Turkey is $ 65million while $ 88 million investment has been recorded from Turkey into Pakistan which is very nominal comparing the potential. He said that Turkey will soon open a branch of Turkish national bank in Karachi that will help and facilitate the businessmen of both countries.He said that Turkey will cooperate with Pakistan in the areas of energy and electricity production and both countries are engaging in this regard.Makhdoom Amin Faheem said that both countries will take measure to boost trade and investment in each other countries. He said that both brotherly Islamic countries have historical relations and cooperation in different sectors will help to improve these relations.Pakistan and Turkey will sign various agreements of cooperation in various sectors today (Tuesday) in presence of Turkish PM Tayyip Erdogan and PM Syed Yousaf Raza Gillani.
