Turkey and Pakistan signed a free trade agreement, writes Ary News.
The document was signed in Islamabad. He was assured by signatures by the Minister of Trade of Turkey Mehmet Mush and Minister of Trade of Pakistan Sayed Navid Kamar. The ceremony was also attended by the country’s Prime Minister Shakhbaz Sharif.
The purpose of the agreement is to increase trade between countries from $ 1 billion to $ 5 billion. Both private and state companies in Turkey are interested in the agreement. Turkish Airlines is waiting for an increase in flights, Zorlu Energy wants to install charging stations for electric cars in Lahore.
Pakistan with the help of this deal will be able to correct its financial situation, because in recent months the country has been balancing on the verge of default. Islamabad will allow Turkish companies to save profit in foreign currency.
Turkey, in turn, offered Pakistan concessions on 261 tariff lines, which include the key positions of Pakistan’s export to Istanbul both from agricultural and industrial sectors.
both countries have big plans for joint cooperation. Many of the bottom will help Pakistan adopt Turkish experience in European markets.