ANKARA, 16 October 2014: The economic managers of both Pakistan and Turkey have agreed to take necessary steps to further solidify commercial relations. Various proposals to this affect were discussed and agreed during the 15th session of Turkey-Pakistan Joint Economic Commission (JEC) which concluded here today.

Federal Minister for Commerce of Pakistan Engineer Khurram Dastgir Khan and Turkish Minister for Environment and Urbanization Mr. İdris Güllüce co-chaired the JEC. The co-chairs signed agreement minutes of the 15th session of JEC. The co-chairs applauded the hard work done by the technical teams of both the countries.

In his closing speech Mr. Khurram Dastgir thanked his Turkish counterpart for extending warm hospitality to the Pakistani delegation. He said economic relations go beyond trade in goods. He reiterated that investment, technology exchange, standardization, social sector uplift, etc. are also integral part of economic ties. He said both the countries shall expedite efforts to achieve US$ 2 billion annual trade target set by the two Prime Ministers.

Mr. Khurram Dastgir said vast opportunities exist for Turkish investment in Pakistan. He underlined that joint ventures between the private sectors of the two countries in energy, dairy, infrastructure development, IT, tourism and banking sectors holds the key to progress. He said many new opportunities are created in Pakistan through privatization and de-regulation. He said the presence of the President of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) in today’s meeting amply signifies the importance that Pakistan attaches to the involvement of private sector in the present Government’s economic agenda.

Turkish Minister for Environment and Urbanization Mr. İdris Güllüce agreed and said private sector will be driving force for close economic cooperation between Pakistan and Turkey. He suggested to list all issues and said he shall personally monitor and evaluate progress on a monthly basis.

President of the FPCCI, Ambassador of Pakistan in Turkey, Secretary Board of Investment, Consul General Istanbul, senior officials from the Economic Affairs Division, Ministries of Finance, Commerce, Communication, Railways, Textile and Water & Power participated in the JEC.