Tag: Pakistan

  • Pakistan, Iran should devise payment mechanism

    Pakistan, Iran should devise payment mechanism

    KARACHI: The two central banks of Pakistan and Iran should devise a mechanism for swift payment in order to enhance bilateral trade between the two countries.

    Mian Nasser Hyatt Maggo, President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Tuesday while welcoming Hassan Nourian, Consul General of Islamic Republic of Iran in Karachi and Mahdi Amir Jafari, Third Consul for Economic Affairs, at the Federation House, Karachi.

    Primarily, the two central banks need to devise a mechanism for smooth and swift payment systems for the bilateral trade as the starting point in the right direction; as that will give confidence to traders on both sides, the FPCCI president added.

    The FPCCI is very keen to enhance bilateral trade between the two countries and for that matter removal of the bottlenecks is warranted; namely, lack of banking and financial channels; absence of barter-trade agreements or mechanisms at governmental level and unfair geopolitical pressures.

    He explained that the central/state banks of the two countries and apex chambers of commerce and industry need to come closer; and, we can immediately start the consultative processes immediately at various levels through webinars. He also offered FPCCI’s assistance and its platform for making efficient and tangible linkages.

    Maggo also requested Export Guarantee Fund of Iran (EGFI) to extend their funding guarantees to more traders with enhanced limits and play a role of a catalyst.

    He added that he is worried on the COVID situation in the brotherly country of Iran and hoped that Iranian people will soon overcome the menace on the back of their ever-persistent resilience and high hygiene standards.

    On the occasion, Hassan Nourian said that the formal trade between the two countries stands only at $1 billion and it is too low; given the fact that the combine population of Pakistan and Iran is 300 million.

    He added that there might be informal trade along the lines; but, the two countries must work in tandem to progressively increase the bilateral trade on a sustainable basis.

    Hassan Nourian emphasized that the quality of Iranian products is world-class and Iranian industry buys their plants mostly from best manufacturers.

    He also appreciated the willingness of Pakistani Embassy in Iran for supporting enhancement of bilateral trade.

    Hassan Nourian pointed out that there is still a huge untapped potential for Pakistani fruits in Iran; particularly, various varieties of mango. He also emphasized that petrochemical industry is very advanced in Iran technologically and can greatly help Pakistan with their foreign exchange strains.

    Hanif Lakhany, Vice President, FPCCI, pointed out that tariffs are playing out as a major hindrance; as the tariffs are very high on both the sides; and, that results in rendering bilateral trade uncompetitive.

    Nasir Khan, vice president FPCCI, said that during a recent meeting with State Bank Governor, FPCCI raised the issue of lack of banking channels with Iran and the SBP has asked to discuss the matter further in the light of currently in place bilateral mechanisms between Iran and other countries, like China, India, Turkey, etc.

  • Pakistan exports to seven regional countries up by 20.5%

    Pakistan exports to seven regional countries up by 20.5%

    ISLAMABAD: Pakistan has registered an increase in the exports to seven regional countries by 20.50 per cent in the first month of the financial year (2021-2022) as compared with the corresponding month of the last year.

    The State Bank of Pakistan (SBP) reported that the countries in the seven regional countries including Afghanistan, China, India, Nepal, Bangladesh, Sri Lanka, and the Maldives.

    These countries account for a small amount of $282.020 million which is only 12.49 percent of Pakistan’s overall exports of $2257.042 million in July 2021-22.

    China tops the list of the countries in which Pakistan exports goods to its neighboring countries except for Afghanistan and Bangladesh.

    There is an increase observed in the exports from Pakistan to China with a growth of 55.26 percent to $165.878 million in July 2022 from $106.775 million in July 2021.

    On the other hand, there is also an increase in the exports of Pakistan to Bangladesh by 5.66 percent from $5t51.033 million to $48.297 million.

    Yet the exports of Pakistan to Afghanistan have dropped by 38.57 percent to $38.557 million this year from $62.774 million. The exports of the country with India also plunged by 87.81 percent to $0.054 million from $0.443 million because of the suspension of trade relations by the government with Pakistan.

    The exports to Nepal also declined by 39.86 percent to $0.273 million from 0.454 million. However, the exports to the Maldives also fell by 1.21 percent to 0.325 million from 0.329 million.

    The exports of Pakistan with Sri Lanka increased by 68.55 percent to $235.991 million from $15.420 million in the previous year.

    However the imports of Pakistan from seven regional countries have increased by 19.36 percent to $1350.535million during July 2022 as compared to $1131.427 million in July 2021.

  • Rice exports to cross one million tons: Pakistan envoy

    Rice exports to cross one million tons: Pakistan envoy

    BEIJING: Pakistan has a huge potential to enhance rice export to several countries especially China and Pakistani rice export is likely to cross one million tons within two years with increased demand from the Chinese market, said Badar uz Zaman, Commercial Counselor of Pakistan Embassy in China.

    “Last year our rice exports to China was 475,000 tons and in quantity wise we are the third largest country while in amount or money wise we are fourth largest rice exporter to China,” he added.

    Last year, Vietnam, Myanmar, and Thailand were the top three rice exporters to China, with export of 787,538 tons, 911,231 tons, and 324,642 tons respectively.

    China had appeared as one of the top destinations for Pakistani rice with 59 per cent increase of broken rice in last year while semi/wholly milled rice and IRRI-6 and IRRI-9 are the main top two rice varieties imported by China amounted to around $259 million last year.

    Badar uz Zaman said the number of registered rice exporters has increased to 53 and within the last two years as 18 new Pakistani rice companies were registered by the General Administration of Customs, China, which shows the huge demand for Pakistani rice in the Chinese market. These companies fully meet the Chinese standard.

    He said that IRRI-6 and IRRI-9 types of rice have special Chinese consumer taste, while all commercial sections in China are trying B2B marketing to promote all kinds of Pakistani rice types, and also the products of quality are in demand here.

    According to a report released by China-Pakistan Agricultural and Industrial Information Platform (CPAIC), Pakistan has already become one of the top rice producers and exporters in the world.

    The rice grown in Pakistan is mainly divided into Basmati rice and non-Basmati rice. Basmati rice, with slender and elongated grains, aromatic taste, and soft and fluffy texture when cooked, is one of the most favored high-end rice varieties in the international market.

    Pakistan is the most important growing area of Basmati rice besides India and Bangladesh.

    Hybrid rice breeding assisted by China is elevating Pakistani rice yield to a new height.

    Honglian hybrid rice developed by Wuhan University and harvested in eight demonstrative plots in Pakistan has demonstrated ability to raise production by two times.

    A rice variety bred by China’s Yuan Longping High-tech Agriculture Co., Ltd. in collaboration with Guard Agriculture Research and Services are anticipated to double the rice production in Pakistan from 2 tons per acre to 4 tons per acre.

    Last year, a total of 500 tonnes of hybrid rice seeds from a seed company in east China’s Jiangsu Province landed in Pakistan to help ensure the country’s grain yield.

    It may be mentioned here that China permitted imports of Pakistani rice in January 1, 2006. In February of the same year, the first batch of rice shipped from Pakistan.

  • Pakistan, Saudi Arabia agree to strengthen economic ties

    Pakistan, Saudi Arabia agree to strengthen economic ties

    Pakistan and Saudi Arabia have agreed to strengthen economic ties, marking a significant step in the long-standing bilateral partnership between the two countries.

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  • Xiaomi plans assembly plant in Pakistan

    Xiaomi plans assembly plant in Pakistan

    Xiaomi has planned assembly plant in Pakistan within the next three to four months. This strategic move not only signifies a significant milestone for the tech giant but also carries promising prospects for the Pakistani market.

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  • Pakistan, Saudi Arabia agree to strengthen bilateral economic ties

    Pakistan, Saudi Arabia agree to strengthen bilateral economic ties

    JEDDAH, Saudi Arabia: Prime Minister Imran Khan met His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud in Jeddah and held wide-ranging talks on bilateral, regional and international issues. The talks were marked by exceptional cordiality and a commitment to fortify the upward trajectory in the bilateral relationship.

    The Prime Minister conveyed sincere regards to the Custodian of the Two Holy Mosques, His Majesty King Salman bin Abdulaziz, and thanked the Crown Prince for his gracious invitation to him to visit the Kingdom.

    The Prime Minister expressed gratitude for affording him the opportunity to visit the two Holy Mosques during the special days of Ramadan.

    The two leaders reaffirmed the strong and historic bonds between the two countries rooted firmly in shared beliefs, common values, mutual trust and longstanding tradition of mutual support.

    The Prime Minister reiterated Pakistan’s abiding support for the sovereignty and territorial integrity of the Kingdom, and expressed special reverence accorded to the Land of the Two Holy Mosques by the people of Pakistan.

    During the meeting, it was agreed to further strengthen, deepen and diversify the existing bilateral political, economic, trade, defence and security ties.

    Special emphasis was laid on increasing Saudi investments in Pakistan, collaboration in the field of energy, and increased job opportunities for Pakistanis in Saudi Arabia.

    The Prime Minister appreciated the Crown Prince’s recently launched “Green Saudi Arabia and Green Middle East” initiatives and hoped to build upon the synergies between the vision of the Crown Prince and his own environment-related initiatives including the “10 Billion Trees Tsunami”.

    Acknowledging the positive and constructive role of more than two million Pakistani Diaspora in the Kingdom, the two leaders discussed ways to maximize mutual benefit from cooperation in the human resource sector.

    The Prime Minister thanked the Saudi leadership for taking considerate measures for the welfare of Pakistani expatriates during the COVID-19 pandemic. Views were exchanged on regional and international issues. The Prime Minister outlined his vision of a peaceful neighborhood to advance the objectives of national economic development.

    Highlighting the situation in IIOJK, the Prime Minister stressed the importance of peaceful resolution of the Jammu and Kashmir dispute. The Prime Minister also highlighted Pakistan’s consistent efforts to support peace and reconciliation in Afghanistan.

    The Prime Minister lauded the Crown Prince for the Kingdom’s efforts and initiatives aimed at reinforcing and further promoting regional peace and security. After the meeting, the Prime Minister and the Crown Prince signed the Agreement on Establishment of the Saudi-Pakistan Supreme Coordination Council (SPSCC). The Council, co-chaired by the Prime Minister and the Crown Prince, is designed to impart strategic direction to the development of Pakistan-Saudi relations.

    The Prime Minister expressed the hope that the SPSCC will play a catalytic role in fostering enhanced bilateral cooperation in all fields.

    The two leaders also witnessed signing of a number of bilateral agreements/Memoranda of Understanding (MoU), including Agreement on Cooperation in the Field of Combating Crimes; Agreement on Transfer of Convicted Individuals (Prisoners); MoU on Combating Illicit Traffic in Narcotic Drugs; Psychotropic Substances and Precursor Chemicals; and Framework MoU for financing of projects (totaling up to USD 500 million) in energy, hydropower generation, infrastructure, transport and communication and water resource development.

    The Prime Minister extended an invitation to HRH the Crown Prince to visit Pakistan at the earliest convenience. Earlier, upon arrival at Jeddah airport, Prime Minister Imran Khan was received warmly by HRH Crown Prince Mohammad bin Salman.

  • Pak-Turkey agree to strengthen cooperation

    Pak-Turkey agree to strengthen cooperation

    ISLAMABAD: A Joint Statement was issued after 6th session of Pakistan-Turkey High Level Strategic Cooperation Council (HLSCC) titled “Towards An Ever-Closer Strategic Partnership” co-chaired by Prime Minister Imran Khan and President Recep Tayyip Erdogan.

    Reiterating their resolve to transform bilateral fraternal relationship into an ever-expanding, mutually beneficial strategic partnership, Pakistan and Turkey on Friday agreed to further strengthen their cooperation in the areas of trade, energy, defence, infrastructure, transport, communication, agriculture etc.

    Following is the text of the Joint Statement:-

    “Reaffirming the time-tested and unparalleled relations between the peoples and the governments of the two brotherly countries that are embedded in a common historical, religious and cultural heritage;

    Recalling the historic bonds between the peoples of the two regions, manifested through the legendary support provided by the Muslims of South Asia to their Turkish brethren in early 20th century as well as the resolute support provided by Turkey to the people of Pakistan in the face of all challenges;

    Emphasizing that the fraternal relations between Pakistan and Turkey are a sacred trust, that must be protected, nurtured and transmitted onwards to successive generations as common heritage;

    Reiterating their resolve to transform this fraternal relationship into an ever-expanding, mutually beneficial, strategic partnership;
    Underlining the importance and centrality of Turkey-Pakistan High-Level Strategic Cooperation Council (HLSCC) mechanism in expanding Turkey-Pakistan bilateral relations;

    Welcoming the finalization of the landmark Pakistan-Turkey Declaration of Strategic Economic Framework (SEF) and Action Plan;

    Reiterating their common resolve to fight the scourge of terrorism in all its forms and manifestations; underscoring the need for addressing the root causes of terrorism, including by resolving prolonged conflicts and ending situations of foreign occupation; reaffirming that terrorism cannot and should not be associated with any religion, nationality or civilization; and calling for extending the scope of the UNSC 1267 sanctions regime to individuals and entities currently outside its ambit.

    Expressing deep concern at the rising tide of Islamophobia, and condemning in the strongest terms the recent terrorist and racist attacks against Muslims across the globe;

    Recalling all the previous Joint Declarations signed between the two sides under the framework of Pakistan-Turkey High-Level Strategic Cooperation Council (HLSCC), and the decisions made therein;

    Having endorsed the outcomes of the meetings of the respective Working Groups of the Pakistan-Turkey High-Level Strategic Cooperation Council (HLSCC) held on 13 February 2020 and expressing satisfaction at the progress achieved therein;

    We, the Co-chairs of the 6th Meeting of the Pakistan-Turkey High-Level Strategic Cooperation Council (HLSCC), held in Islamabad, on 14 February 2020 have agreed as follows:

    Political Cooperation

    Bilateral institutional mechanisms:

    The High-Level Strategic Cooperation Council (HLSCC) shall continue to be the main political forum that guides bilateral relations in all fields with an effective and expeditious follow-up on its decisions.

    The two sides will review, update and amend, as appropriate, the agreements, protocols and MOUs signed under the umbrella of the HLSCC, in order to streamline their implementation.

    The ongoing consultations between the Ministries of Foreign Affairs of the two countries shall be further intensified and their scope broadened to new areas.

    Fight against terrorism:

    Being victims of terrorism themselves, both countries will continue to cooperate in the fight against this scourge, including through the exchange of best practices and experiences in the area of law enforcement, legislation, capacity building and strengthening of the respective AML/CFT regimes.

    The two sides reiterate their resolve to fight against the Fetullah Gulen Terrorist Organization (FETO). In this regard, Turkey notes with appreciation the measures taken by Pakistan against FETO in line with its domestic law, through inter alia designation of FETO as a terrorist organization, and handing over of all linked schools to the Turkish Maarif Foundation.

    The two sides will continue to cooperate at all international forums, in particular at the United Nations and relevant inter-governmental organizations, to make international counter-terrorism and AML/CFT regimes more transparent, apolitical, non-discriminatory and objective, as well as to counter laws or administrative measures discriminating against and stigmatizing Muslims.

    Islamophobia:

    The two countries will work closely to combat Islamophobia, hate speech, efforts to link terrorism with Islam, and other manifestations of intolerance towards Muslims, including stereotyping of Muslims.

    Joint initiatives will be taken to counter stereotyping and defamation of Islam and Muslims, including incitement to acts of violence, xenophobia, and related intolerance and discrimination against Islam, its religious symbols, and venerated personalities, by means of print, audio-visual & electronic media, the Internet, as well as entertainment media such as movies, videos and digital games.

    The two countries note with appreciation the UN Secretary General’s Strategy and Action Plan on Hate Speech and call for convening a special session of the UN General Assembly on measures to combat Islamophobia;

    Both sides also call for establishment of an observatory under the auspices of OHCHR (or any other relevant UN body/authority) to monitor acts of hate speech, Islamophobia, incitement to hatred and violence against Muslims;

    The two countries call on the UN Human Rights Council to appoint a Special Rapporteur to monitor and combat Islamophobia.

    Regional and international issues:

    The unilateral actions by India on 5 August 2019, as well as the further deteriorating human rights and humanitarian situation in the region as a result of these actions, have further increased regional tensions, and, the situation must, therefore, be urgently addressed for regional as well as global peace and security.

    The two sides underscored need for resolution of all outstanding disputes between Pakistan and India, including the core issue of Jammu & Kashmir through a sustained dialogue process and in accordance with the relevant UN Security Council resolutions. In this regard, Pakistan expresses its deep appreciation for Turkey’s principled stance on the issue as well as its offer for mediation.

    Sustainable peace and stability in Afghanistan can only be achieved through an Afghan-led and Afghan-owned peace process. Turkey appreciates Pakistan’s support to the Afghan peace process. Pakistan supports Turkey’s efforts in achieving these objectives and welcomes the Istanbul Declaration adopted at the Heart of Asia Ministerial Conference, held on 11 December 2019.

    The two countries reiterate full and resolute support for the efforts towards the comprehensive settlement of the Cyprus issue on the basis of the political equality of the two communities on the Island, and with a view to building peace and stability in the Eastern Mediterranean;

    Both sides noted with concern the trend towards exceptionalism and sidelining of non-proliferation objectives. This trend is regarded as detrimental to the credibility of the global non-proliferation regime and, in this regard, also to the strategic stability in South Asia.

    Turkey appreciates Pakistan’s strong commitment to non-proliferation and its adherence to the Nuclear Suppliers Group’s (NSG) Guidelines. Turkey recognizes that as a country with an extensive experience in this area, Pakistan’s membership of the NSG will contribute to the global non-proliferation objectives.

    The United Nations Security Council needs to be made more representative, democratic, transparent, and accountable through comprehensive UN Security Council reform process, based on widest possible consensus. In addition, the need for the implementation of relevant UN Security Council resolutions to resolve the long-standing disputes on the agenda of the Security Council, especially those pertaining to the Muslim Ummah, is underlined;

    Cooperation at the multi-lateral forums:

    The two countries shall continue to cooperate and coordinate at regional and international forums, particularly the United Nations, the Organization of Islamic Cooperation (OIC), the Economic Cooperation Organization (ECO), and the D-8 Organization, etc. through, inter alia, mutual support for joint initiatives, policies and candidacies.

    Other issues:

    The two countries agree to work together bilaterally as well as at the global forums to address threats posed by the adverse effects of climate change; and explore avenues to enhance cooperation with regard to implementation of Sustainable Development Goals (SDGs).

    The two countries shall continue to work closely to address irregular migration and agreed to further develop cooperation on irregular migration and to combat human trafficking and migrant smuggling. Turkey acknowledges and notes with appreciation the measures being taken by Pakistan towards implementation of the Agreement on the Readmission of Persons Residing without Authorization as well as facilitation with regard to provision of documents of irregular migrants exiting from Turkey.

    Security and Defence Cooperation

    The two sides agreed to: further intensify and expand cooperation in the defence and security spheres, including by sourcing their defence purchases from each other to the extent possible, and prioritizing joint research, development and production ventures.

    Work for global disarmament, non-proliferation objectives, safeguarding and strengthening international as well as regional security and promoting strategic stability, including in each other’s respective regions.

    Enhance cooperation between the law enforcement institutions, departments and agencies of both countries through, inter alia, training activities and sharing of best practices, information, experiences and expertise, etc.

    Cooperate through relevant counter-terrorism institutions to develop methods and avenues of cooperation in keeping with the evolving nature of the threat, including in the areas of cyber-terrorism and cyber-crime.

    Energy Cooperation

    Both countries agreed to: Enhance cooperation in human capacity building, especially in the fields of human safety, management of the distribution systems and senior management training modules.

    That the Turkish experience and expertise in human resource development and the expertise would be utilized to upgrade and improved Pakistan’s electricity sectors institutional framework, curriculum, and modules at different levels.

    Cooperate in the capacity building of National Energy Efficiency and Conservation Authority (NEECA) Pakistan.

    Enhance investment opportunities in the power transmission and distribution sectors of Pakistan.
    Enhance cooperation in the field of hydrocarbons, especially in oil and gas exploration and production projects, supply and trade of LPG and petroleum products.

    Creation of a joint monitoring group of the Ministries of Energy that would meet at least once a year to review the progress against the decisions made in this joint working group.

    Trade and Investment

    Both sides reviewed the existing bilateral trade and agreed to increase the level of economic engagement to mobilize the untapped potential for increasing trade and investment.

    Both parties agreed to conclude the FTA with the broader purpose of increased economic and trade integration and as per the “Joint Declaration on Pakistan-Turkey Strategic Relationship for Peace and Prosperity” made during the 5th meeting of Pakistan – Turkey High Level Strategic Cooperation Council held on 22-24 February 2017 under which both sides agreed that the “Free Trade Agreement negotiations will be conducted taking into consideration the sensitivities of economies of both countries.”

    In this regard, both sides have also agreed to conduct and finalize a Joint Scoping Study by end of March, 2020 which would identify potential sectors where opportunities are not being exploited at present. This Study would form the basis for future roadmap of Pakistan Turkey FTA negotiations.

    In the light of above and the progress achieved in the Joint Scoping Study, both sides would consider reinitiating negotiations on Pakistan Turkey FTA in the second quarter of 2020.

    Both sides agreed to encourage their businessmen to establish Joint Ventures in industrial sectors and cooperate in the field of e-commerce.

    Banking & Finance

    Both sides discussed the proposed credit line facility of USD 350 million for implementation of eligible projects in Pakistan. A draft MoU was shared by Pakistan with their counterparts from Turkey. The Turkish side agreed in principle to consider the proposal for extending credit facility of USD 350 million to Government of Pakistan on terms mutually agreed between the two sides. In this regard, both sides agreed to formulate the draft MoU through mutual consultations by the end of May 2020.

    Both sides agreed to encourage their banking sectors to enhance cooperation in banking and finance for promotion of trade and investment between the two countries and facilitate each other for opening bank branches on reciprocal basis.

    Both sides expressed their mutual desire to enhance bilateral cooperation between their Central Banks by initiating a dialogue with a view to finalize an MoU on Technical Cooperation and Renewal of the Currency Swap Agreement (CSA).

    Both sides agreed to enhance technical cooperation in the following fields:

    i. Establishment of a Communication Line Between Credit Guarantee Institutions of Both Countries for SME Promotion.

    ii. Public Debt Management, Cash Management and Risk Management.

    iii. Development of Housing and Housing Finance Industry in Pakistan

    iv. Public Private Partnership Framework

    In this regard, Pakistan shared draft MoUs/Protocols with Turkish side. The Turkish side agreed to respond within due course of time.

    Both sides agreed on knowledge sharing and mutual technical assistance in the areas of Risk Based Approach for Supervision on anti-money laundering, misuse of payment system including new payment method, UNSC sanctions regime, money laundering and terrorist financing typologies.

    Both sides agreed on cooperation for capacity building in the areas of Islamic Banking, Project Management, Taxation, Strategic Planning, Sectoral Planning & Development and other areas of mutual interest.

    Pakistan appreciated the endeavors made by Turkish International Cooperation & Development Agency (TIKA) for implementing small grant projects in social sectors in Pakistan and assured them of continued cooperation.

    Transport and Communications Cooperation

    The two sides agreed to: Implement bilateral agreements in all the modes of transport i.e. Road, Rail, Sea and Air, as a step towards promoting bilateral trade and cooperation between the two countries.

    Devise all required mechanisms for boosting activities in various fields of Communications & Transport Sector including Roads, Rail, Air, Sea, Postal and IT & Telecom to their full potential by utilizing all available options.

    Enhance their commitment in the implementation of bilateral and multilateral Transport Agreements. Turkey appreciated and welcomed Pakistan’s Accession to International UN-TIR Convention 1975 and CMR Convention that has paved the way of harmonizing Pakistan’s procedures and standards with the globally accepted and recognized guaranteeing mechanisms.

    Both sides decided to organize a pilot run of at-least 10 trucks on Islamabad-Tehran-Istanbul (ITI) Road Corridor by June 2020 in consultation with the Transport Associations of both sides under framework of already signed bilateral Road Transport Agreement. This will further boost the bilateral cooperation and trade activities between the two countries.

    Consider participation in potential projects of highways and motorways of Pakistan by Turkish companies on BOT/Public Private Partnership basis.

    Both sides agreed to explore the possibilities of joint cooperation in railway sector mainly in the areas of business planning, management, railway operations, railway infrastructure, IT & Technology in railways, capacity building etc., in addition to manufacturing, rehabilitation, maintenance and repair of locomotives, freight wagons and passenger coaches in the framework of MoU which has been signed at High level Strategic Cooperation Council. This has also been reflected in the Strategic Economic Framework.

    Both sides affirmed to proactively engage in promoting joint cooperation in railways.

    The Turkish side agreed to explore the possibility of Pakistan’s proposal for the renewal of MoU between Pakistan Railways & Union of Chamber of Commerce and Commodity Exchange (TOBB) through its logistic company BALO.

    The two sides recognized the significance of ITI train for integration of the region with Europe and beyond. The two sides agreed to take measures necessary for resumption of ITI train operations at the earliest.

    Pakistani side also encourages Turkish companies to participate in the biding process of potential railways projects funded through own resources and BOT/PPP basis.

    Collaborate in the field of (a) international and local remittance and IT innovative services between Turkey and Pakistan, (b) Express and Logistic Services and E-commerce through Postal Network to enhance cooperation in ICT based postal services between the two countries.

    Cooperate and exchange of experiences and collaboration in Maritime Education & Trainings, Maritime Trade and Port Management. The geographical location of the Izmir Port of Turkey and Karachi Port need to be utilized to harmonize each other’s capabilities for an effective trade and cargo handling.

    Both sides may finalize the Annex-I of the MoU signed in 2015 with a view to further deepen the bilateral ties in the field of aviation. It was further agreed to discuss the traffic rights and frequencies between the two brotherly nations during a forthcoming meeting in Turkey at the invitation of Turkish side as per mutually agreed schedule.

    Culture and Tourism Cooperation

    Both sides agreed to: Organizing the 4th meeting of Turkey-Pakistan Joint Commission on Tourism.

    Promoting the regular exchange of media delegation.

    Cooperation in the area of Information, Culture, Tourism, Film and drama to further strengthen people to people interaction and brotherly relations with the two countries.

    Initiate Joint-ventures in film production and release of feature films in each other market on reciprocal basis.

    Enhance cooperation between TRT and PTVC/PBC in order to exchange programs, information and expertise on a reciprocal basis.

    Cooperation on restoration of cultural heritage.

    Encouraging joint initiatives for the development, planning and standardization of tourism attractions in Pakistan.

    Providing technical information and support on promotion and marketing in the field of tourism.

    Exchange of culture groups and tourist festivals within the framework of reciprocity.

    Exchange expertise in the fields of archaeology as well as conservation and restoration of archaeological and historical sites as well as museums.

    Education Cooperation

    Both sides agreed on the following by taking into account the applicable legislation of both countries within the bounds of financial and personnel resources:

    Promoting exchanges between universities, technical and vocational institutes and other academic institutes and in this regard continue collaboration on higher education scholarships.

    Promoting the relationship between the Technical and Vocational Training Institutes Schools of Turkey and Pakistan through International Sister Schools practice.

    Sharing of curricula and qualification standards to assist Pakistan in standardization and modernization of its TVET sector.

    Exploring possibilities of training Pakistani TVET teachers in Turkey and in Pakistan to ensure Pakistani TVET teachers acquire modern skills and help them improve the quality standards.

    TIKA will be preparing to establish Centre of Excellence of Hospitality and Tourism management in Islamabad in collaboration with NAVTTC

    Cooperate in the field of curriculum development.

    Both sides agreed to finalize the ongoing negotiations on Memorandum of Understanding between Ministry of Federal education and Professional Training and Turkish Maarif Foundation in the second quarter of 2020.

    Both sides agreed to start negotiations in the second quarter of 2020 and finalize as soon as possible the Cooperation Agreement in the field of Education between the Government of the Republic of Turkey and the Government of the Islamic Republic of Pakistan. The date and place of negotiation will be mutually decided through diplomatic channels.

    Follow-Up

    The two leaders decided to establish two more Joint Working Groups on:

    i. Defence Industry

    ii. Agriculture and Water

    The Joint Working Groups of the High-Level Strategic Cooperation Council shall continue their work to develop specific programmes and projects.

    In this regard, the Joint Working Groups, will meet before the meetings of the High-Level Strategic Cooperation Council at least two times in Ankara, in Islamabad, or through video conference.

    The next meeting of the High-Level Strategic Cooperation Council shall be held in Ankara. The dates shall be agreed upon through diplomatic channels.

    Done in Islamabad on 14 February 2020 in English and Turkish languages, both texts being equally authentic.”

  • Pak-Turkey joint working group finalizes MoUs on trade facilitation

    Pak-Turkey joint working group finalizes MoUs on trade facilitation

    ISLAMABAD: The Joint Working Group on Trade and Investment of Pakistan and Turkey was held here on Thursday under the 6th HLSCC.

    Both sides reviewed the existing bilateral trade and agreed to increase the level of economic engagement to mobilize the untapped potential for increasing trade and investment.

    Two MoUs have been finalized by the Joint Working Group: one on Trade Facilitation and Customs Cooperation, and the other to reinforce cooperation in the field of Halal Accreditation.

    Both sides agreed to explore the possibilities of enhancing bilateral trade by mutually beneficial market access and trade facilitation.

    Both sides also agreed to encourage their businessmen to establish Joint Ventures in Industrial Sectors and cooperate in the field of E-Commerce.

    The Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) organised Pakistan-Turkey Business-to-Business (B2B) networking Session on 13th February, 2020 at Islamabad.

    The event was formally inaugurated by Sardar Ahmad Nawaz Sukhera, Secretary, Ministry of Commerce.

    The Secretary welcomed the delegates and emphasized that the warm bilateral relations need to be translated into economic gains for both countries. Later, Prime Minister’s Advisor for Commerce, Abdul Razak Dawood, also visited the venue and met each Turkish delegate.

    He assured them of Ministry of Commerce’s full support for in working in Pakistan and with Pakistani companies.

    The B2B meetings were held in the Engineering, Energy, Tourism, Construction, Defence, Automotive, Chemicals and IT sectors. Around 450 fruitful B2B Meetings were conducted between the visiting Turkish Companies and their Pakistani business counterparts.

  • Pakistan takes preemptive measures against Corona virus

    Pakistan takes preemptive measures against Corona virus

    ISLAMABAD: Pakistan has taken preemptive measures to deal with the situation in wake of Corona virus cases in China.

    Dr. Zafar Mirza, Special Assistant to Prime Minister on Health, reviewed the situation while chairing a high level meeting participated by heads of federal hospitals and health institutions.

    He directed to expedite the establishment of a robust surveillance system at all ports of entry before February 8, 2020 with quarantined areas.

    SAPM monitored the situation in the Emergency Operations Centre established in the Ministry of National Health, Services, Regulations & Coordination.

    He directed that a dedicated Helpline be established by next week for provision of information on the disease to the general public and health-care providers.

    He reviewed measures taken by major hospitals to receive possible cases of Corona virus emphasized that all necessary arrangements be made to receive patients of the disease.

    SAPM also stressed to accelerate the steps required for public awareness and education related to the symptoms of the disease, preparedness level, mitigation and response in case of any emergency.

    Special information stalls should be established in arrival areas of airports for information of travelers.

    Dr. Zafar Mirza directed that Thermo Guns be made available to screen passengers in addition to Thermo scanners. SAPM further directed that National Institute of Health should act as a hub where all information should be updated.

    The meeting was informed that there are at present 890 reported cases of Corona virus with 26 deaths.

    In addition to a beefed up surveillance mechanism and public awareness, all Provincial Chief Ministers are being advocated to notify a focal person to coordinate with point of entry staff and manage suspected cases of coronavirus infection.

    NDMA is also taken on board to support in case of any emergency, the meeting was informed.

  • World Bank Group President arrives for three-day visit

    World Bank Group President arrives for three-day visit

    ISLAMABAD: David Malpass, President of World Bank Group will arrive in Islamabad today Wednesday, October 30, 2019 for a three-day visit, his first trip to Pakistan since assuming World Bank Group leadership on April 9, 2019.

    While in Pakistan, Malpass will meet with Prime Minister Imran Khan.

    He will also meet the Chief Minister of Sindh, Federal and Provincial Ministers, Advisors, the State Bank Governor, members of Parliament, beneficiaries of the Benazir Income Support Program, and representatives of the private sector.

    “My visit to Pakistan provides a good opportunity to discuss the need for important reforms to stabilize the Pakistani economy and accelerate broad-based growth,” said Malpass.

    “I look forward to hearing from Prime Minister Imran Khan and the Chief Ministers on their priorities and how the World Bank Group can best work with Pakistan to improve its business and jobs environment, and create conditions for people to gain education, skills, and good health.”

    During his visit, President Malpass will engage on reforms, including harmonizing the sales tax across Pakistan to further improve the business environment and enhance revenue collection; lowering circular debt in the power sector and increasing the share of renewable energy for environmental sustainability; harnessing a greater role for women in the economy; and unleashing digital payments to boost financial inclusion.

    President Malpass will visit a World Bank-supported hydropower project in Tarbela, where the Bank is currently financing additional capacity of 4GW of cheaper and environment-friendly energy.

    President Malpass will participate in an event to celebrate Pakistan’s progress in Ease of Doing Business 2020, and to discuss useful next steps.

    He will also participate in the launch of the National Payments Systems Strategy with the government and representatives from the private sector.

    Pakistan has been a member of the World Bank since 1950. Since then, the World Bank has provided $40 billion in assistance.

    The World Bank’s program in Pakistan is governed by the Country Partnership Strategy for FY2015-2020 with four priority areas of engagement: energy, private sector development, inclusion, and service delivery.