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Pakistan, Turkey to boost trade & investment cooperation

Lahore : The Turkish government has presented its proposals on the Strategic Economic Framework(SEF) to the government of Pakistan.

The decision to enter into an SEF was taken during the visit of Prime Minister Imran Khan to Turkey.

The Turkish Vice President, Fuat Oktay has written to Finance Minister acknowledging the receipt of proposals from Pakistan side and presenting additional proposals from the Turkish side. 

The proposals by the two countries cover trade, tourism, healthcare, hospitality industry, education, housing, agriculture, aviation, and banking.         

The purpose of SEF is to enhance volume of bilateral trade five times (currently US$ 900 mn). Towards this goal, the two governments are negotiating a FTA to be signed in 2019. Trade facilitation is to be enhanced through improving connectivity through rail, air, road and sea. Cooperation between Pakistan Railways and TUDEMSAS (Turkish Railway Car Company) and TULOMSAS (Turkish Locomotive and Engine Company) for rail vehicles production maintenance, repair and operation is also envisioned.

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