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Summary
Pakistan and Turkey signed three Memoranda of Understanding in the areas of economic cooperation, agriculture and investment. President Asif Ali Zardari and Turkish President Abdullah Gul witnessed the signing ceremony at Aiwan-e-Sadr as the representatives of respective organizations inked the documents. Advisor to Prime Minister on Economic Affairs Dr Hafeez Sheikh signed the MoU on Planning Commission. Minister for Agriculture Nazar Muhammad Gondal and Minister of Agriculture and Rural Affairs Mehmet Mehdi Eker from the Turkish side inked the document on agro-based industries. Under the MoU, the two sides will promote and encourage their private sectors to establish proprietary enterprises and joint ventures with an objective of encouraging investment in fruit and food processing, commercial production of olives, corporate livestock farming, dairy industry, fisheries, poultry farming, cold storage facilities, commercial production of seeds and nurseries and commercial production of flowers, spices and medicinal herbs and their marketing. For signing of MoU on commercial cooperation between Board of Investment and Turkish Investment Support and Promotion Agency, the Pakistani side was represented by Saleem H. Mandviwala, Chairman BOI while the Turkish side was led by Buyukelci Engin Soysal, Mustesar Yardimeisi. Under the MoU, the cooperation will be strengthened to boost investments between the two countries. The MoU aims at promotion of productive and commercial cooperation and support of enterprises in implementing common projects and transfer of know how. Both sides will encourage joint projects by involving local institutions. The entrepreneurs of either side shall be encouraged to hold 100 per cent equity or to enter joint ventures and shall be free to trade or dispose of their shares.
