18 August 2022; MEMO: Pakistan's Prime Minister Shehbaz Sharif expressed optimism today that the country's trade with Turkiye will increase after the signing of the Preferential Trade Agreement last week.
Speaking to a delegation of Turkish businesspeople at the Prime Minister's House in Islamabad, Sharif said the two nations have friendly relations and that both sides are eager to enhance cooperation in the fields of trade, investment, energy and communication.
"The Preferential Trade Agreement has been signed between Turkiye and Pakistan recently, which has created new avenues for goods, services and investment," the prime minister told the visiting team, according to a statement issued by his office.
"After this agreement, the volume of joint trade between Türkiye and Pakistan will further increase," he said.
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Sharif also mentioned his June visit to Ankara, when he observed that Turkish businesspeople were keen to make investments in Pakistan.
When the delegation expressed interest in investing in the energy sector, the premier assured them that his administration would provide them with all necessary facilities.
The two countries on Friday signed the "Trade in Goods Agreement" aimed at increasing bilateral trade to $5 billion.
Under the terms of the agreement, Turkiye will provide concessions to Pakistan on 261 tariff lines, including immediate zero rating on 123 items.
In turn, Islamabad will grant Ankara rate discounts on 130 tariff lines.
