President Zardariís visit to Turkey to promote bilateral relations
ISTANBUL Oct. 30 (APP) Pakistan and Turkey are expected to sign a currency swap agreement during the visit of President Asif Ali Zardari to Istanbul.This was stated by Pakistan’s Ambassador to Turkey Muhammad Haroon Shaukat during an interview with APP’s special correspondent Fayyaz Chaudhry in Istanbul on Sunday before the arrival of President Asif Ali Zardari.The agreement would allow the two countries to move towards arrangements to do trade in local currencies which will ease pressure on the foreign exchange.The ambassador said negotiations between Pakistan and Turkey are also progressing well for a Preferential Trade Agreement (PTA).
He said the financial and business
institutions of the two countries are promoting cooperation to
facilitate the business community.
The ambassador expressed
satisfaction over growing bilateral trade between the two countries and
said it had shown an increase of 50 per cent last year reaching close to
one billion dollars.
He said Pakistan is making sincere
efforts to further facilitate business community of the two countries to
increase the trade volume as both the countries are eyeing at reaching
the target of two billion dollars bilateral trade by next year.
Replying to a question, the
ambassador acknowledged that the Turkey has placed safeguard duties on
three products but added that these were not Pakistan specific.
He pointed out that Turkey was
facing trade deficit of 100 billion dollars a year and the safeguards
are aimed at reducing the gap and providing protection to the domestic
The ambassador said Pakistan has
asked the Turkish leadership to reduce duties of some of the products
being imported from Pakistan to improve bilateral trade.
Haroon Shaukat expressed the
confidence that visit of the President Asif Ali Zardari to Turkey will
add new dimensions to the already closer strategic relations and
economic collaborations between the two counties.
He described the visit of President
very important in the given regional situation as President’s visit
reflects Pakistan’s keen interest for promotion of peace and security in
Afghanistan and strengthening of exemplary relations with Turkey.
He said the visit of President is
significantly important as besides discussion with his Turkish
counterpart, he will attend the sixth trilateral summit being hosted by
Turkey for peace, security and development in Afghanistan.
He said President Zardari will have
two meetings with President Abdullah Gul during his visit besides
interaction with local business community and media.