- Agreement to add more commercial elements to the TGA concession list.
- Will facilitate services, digital trade, investment in the sectors.
- Discussions to extend the list of preferential rates to start in two months.
The recent historic agreement between the two countries to extend the preferential prices lists under the goods agreement (TGA) should considerably increase the bilateral volume of trade, the joint declaration of Pakistan-Turkiye said on Saturday.
The key result of the 24 MOS signed during the visit of Turkish President Recep Tayyip Erdogan, the agreement will extend the list of TGA concessions and will open the way to an agreement on services, digital trade and investment facilitation.
Talk Geo NewsPakistan ambassador to Turkiye Yusuf Junaid said that the record number of protococci and the expansion of the TGA would accelerate efforts to achieve the bilateral commercial objective of $ 5 billion between the two nations.
According to the agreement,
Junaid added that TGA progress was examined during talks on Friday, and the two parties expressed their commitment to ensure its success. The TGA entered into force on May 1, 2023.
To facilitate trade, an electronic data exchange system will be established to check the original certificates used in cross -border trade between Turkiye and Pakistan.
Another memorandum of understanding signed between the Turkish and Pakistani banks Exim focuses on cooperation in third countries and the exchange of expertise and information between the two financial institutions.
The two countries have also decided to make the Islamabad-Tehran-isanbul (ITI) road (ITI) to improve trade and treat existing curls.
To provide technical assistance to the development of the energy sector in Pakistan, a visit to the officials of Turkish Electricity Distribution Corporation (Tedas) has also been confirmed.
The historic visit of President Erdogan to Pakistan saw Thursday the 24 Memorandums of Understanding (Protocols), protocols and cooperation agreements through defense, energy, trade, agriculture and technology during a ceremony held at the Prime Minister’s house.