Nawaz, Erdogan ink deal: ECO container train to chug off soon

[Edevelop]

ISLAMABAD: In a bid to boost economic ties, Pakistan and Turkey inked agreements on Tuesday to make the Islamabad-Tehran-Istanbul Economic Cooperation Organisation (ECO) Container Train operational and also decided to conclude a Preferential Trade Agreement (PTA) in the first three months of 2014.

On the second day of Turkish Prime Minister Recep Tayyip Erdogan’s official visit to Pakistan, the two premiers pledged to intensify cooperation in energy, trade, urban development, infrastructure and housing sectors, an official statement said.

“Regular operations of the train would not only strengthen connectivity, but also harness greater economic integration between the region and beyond,” Prime Minister Nawaz Sharif was quoted as saying in the statement.

The two prime ministers held a one-on-one meeting followed by talks between their delegations. “Consistent with our shared vision to strengthen economic ties, we have decided to conclude a PTA in the first three months of 2014,” stated the joint statement issued by the Prime Minister Office. Economic frameworks like the PTA, would significantly contribute towards trade facilitation, it added.

Turkish PM Erdogan also expressed the hope that the PTA between the two countries will go a long way in further expanding their economic ties.

The two sides have also signed a number of Memorandums of Understanding (MoUs).

“As two pillars of strength, Pakistan and Turkey stand united in our joint endeavour to promote peace and stability in the region,” Prime Minister Nawaz said.

They also called for the expansion of trade between the two friendly countries. The strong business delegation accompanying Prime Minister Erdogan is an affirmation of the confidence that Turkish companies have in business opportunities in Pakistan, PM Nawaz said.

“I’m confident that the representative business forum would build on the synergies and strengths of our respective business communities.”

Meanwhile, Prime Minister Erdogan also announced the opening of a Turkish Cultural Centre in Lahore.

The prime ministers also emphasised on the prompt implementation of the common economic agenda within the framework of the High-Level Strategic Cooperation Council (HLSCC).

Meeting with the president

President Mamnoon Hussain met with the Turkish prime minister on Tuesday and called for a strategic economic partnership between Pakistan and Turkey.

Welcoming the Turkish premier and his delegation, the president said that Pakistan attaches great significance to its fraternal and multifaceted ties with Turkey and desires to strengthen relations. Friendship with the Turkish people is part of the legacy inherited from our forefathers, he said.

Highlighting the investment-friendly policies of the government, the president said the present government has embarked on an ambitious socio-economic development agenda and various steps are being taken to attract both domestic and foreign investment in Pakistan.

Discussing the regional situation, President Mamnoon said Pakistan and Turkey, as two pillars of strength, stand united in their joint endeavour to promote peace and stability in the region.

Nawaz, Erdogan ink deal: ECO container train to chug off soon – The Express Tribune