Pakistan signs two economic engagement MOUs with Turkey.

Islamabad: Pakistan and Turkey on Thursday signed two Memorandums of Understanding (MOUs) for bilateral economic engagement, according to a news source. The purpose of these agreements is to improve economic coordination and utilize the untapped potential for increasing trade and investment levels between the two countries.

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The two sides finalized these MOUs during a meeting of the Joint Working Group (JWG) on Trade and Investment. The JWG organized this meeting ahead of Turkish President Recep Tayyip Erdogan’s two-day visit to Pakistan.

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The JWG finalized one MOU for facilitating cooperation in the field of trade and customs, and the other to reinforce Halal accreditation. Both sides also reiterated their commitment to exploring opportunities for enhancing economic engagement and bilateral trade. Additionally, they discussed the proposal with regard to the establishment of joint ventures in industrial sectors – and enhancing bilateral cooperation in the field of e-commerce.

Numerous officials and businessmen from both Pakistan and Turkey attended the meeting, and the JWG considered their input for potential implementation.