Islamabad, Pakistan: The Pakistan-Turkey Joint Ministerial Commission (JMC) agreed to cooperate and share their expertise in various filed, which include remote sensing technology and vessel tracking system, Dawn reported. The JMC meeting was co-chaired by the Prime Ministers of both countries.
Other points of agreement include solid waste management, investment, urbanisation, transport, communications and renewable energy.
It was also informed that a Turkish bank would start operations in Pakistan soon while many Turkish banks are interested to open their branches in Karachi, Lahore and Islamabad. In addition, a Turkish company would start business in petroleum sector in Pakistan and all necessary formalities have been completed in this regard.
The JMC noted that the current volume of trade and investment is far below than the potential both the countries have and efforts are needed to improve trade and investment between both countries.
“One basic way to improve trade and commerce between Turkey and Pakistan is to enhance investments and transfer of technology between the two nations,” said Makhdoom Amin Fahim, Commerce Minister, Pakistan.
The Energy Working Group highlighted that Turkey has showed interest to provide technical and financial assistance for establishment of small hydro power in Punjab and construction of transmission lines. Turkey will also help in formulation of regulatory framework and safety codes for coal-based power generation.
Fourteen projects in power sector have been identified by the energy working group to explore possibilities of cooperation from the Turkish side. Turkey would also provide technical assistance in the field of geothermal energy resources and remote sensing.
Communications and Railways working group highlighted the potential areas of land roads, maritime communication and railways.