Pak Turkey Agreement

The agreements were signed on the second and final day of Turkish President Recep Tayyip Erdogan`s two-day visit to Pakistan. Pakistani state television (PTV) said the agreements cover cooperation in the areas of tourism and culture, food security, postal services, railways, military training, trade, transport and infrastructure and information technology. The Free Trade Agreement between Turkey and Pakistan (also known as the Pakistan-Turkey Free Trade Agreement) is a free trade agreement between Pakistan and Turkey, which is being negotiated. [1] Turkey and Pakistan are founding members of the Organisation for Economic Cooperation and are part of the Organization of Developing Countries (D-8). The two countries worked to negotiate a preferential trade agreement to significantly increase trade and investment, particularly in the transport, telecommunications, manufacturing, tourism and other industries. [12] Both governments have attempted to increase the volume of bilateral trade from $690 million to more than $1 billion by 2010. [11] [13] Pakistani exports include rice, sesame seeds, leather, textiles, fabrics, sporting goods and medical equipment. Turkish exports to Pakistan include wheat, chickpeas, lentils, diesel, chemicals, transport vehicles, machinery and energy products. [14] Turkish private companies have also invested heavily in industrial and construction projects that develop highways, pipelines and canals.

[7] Both countries hate the free trade agreement between Turkey and Pakistan. The sixth meeting of the High-Level Council for Strategic Cooperation was held in Islamabad from 13 to 14 February 2020, chaired by H.E. Recep Tayyip Erdogan and H.E. Imran Khan. To date, 73 agreements and documents have been signed under this mechanism. In 2004, the two countries began discussions on closer trade relations, but despite several cycles, they failed to conclude a free trade agreement and officially closed discussions on the agreement last year due to differences over the opening of certain sectors. A cooperation agreement has also been signed between the Turkish National Broadcasting and Television Corporation (TRT) and PTV and Radio Pakistan. Islamabad, February 14 (PTI) Prime Minister Imran Khan said Friday that trade relations between Pakistan and Turkey entered a new era when the two countries signed 13 agreements, including a joint statement on a strategic economic framework to promote their multiple relations. The free trade agreement is expected to increase bilateral trade to $5 billion between 2016 and 2019 and $10 billion by 2022.

[3] [4] The free trade agreement between the two countries is expected to be signed before the end of 2016. [5] The Turkish Association of Industrialists and Businesses and the Karachi Chamber of Commerce and Industry supported the free trade agreement. [6] Turkey and Pakistan both practice the Hanafi school of Sunni Islam, which was the interpretation of Islam, implemented by the Ottoman Empire or the Mughal Empire. Robust traditions of moderate Sufism exist and religious ministers from both nations often come into contact. [22] About 450 successful B2B meetings were held between Turkish host companies and their Pakistani trading partners. The two sides also agreed to encourage their entrepreneurs to set up joint ventures in industrial sectors and to cooperate in the field of e-commerce. Erdogan is on a two-day visit to Pakistan, where he addressed pakistan`s parliament and met with President Arif Alvi and Prime Minister Imran Khan in economic forums. Relations date back to generations before the creation of the two states, specifically during the Turkish War of Independence, when the Muslims of the British northwest Raj sent financial aid to the declining Ottoman Empire, followed by the formation of the Turkish Republic and the independence of Pakistan. In addition, countries have historical Islamic ties, since Muslims who lived under the Raj