ISLAMABAD: The Turkish government has presented its proposals on theStrategic Economic Framework (SEF) to Pakistan as the decision to enterinto an SEF was taken during the visit of Prime Minister Imran Khan toTurkey in January this year.
A press release issued by the Ministry of Finance here Thursday said thatthe Turkish Vice President, Fuat Oktay has written to Finance Ministeracknowledging the receipt of proposals from Pakistan side and presentingadditional proposals from the Turkish side.
The proposals by the two countries cover trade, tourism, healthcare,hospitality industry, education, housing, agriculture, aviation, andbanking.
Following the successful visit of Prime Minister Imran Khan to Turkey inJanuary 2019, major progress was taking place in operationalizing the SEFbetween Pakistan and Turkey.
The purpose of SEF was to enhance volume of bilateral trade five timeswhich was currently stood at US$ 900 million.
Towards this goal, the two governments were negotiating a Free TradeAgreement to be signed in 2019.
Trade facilitation was to be enhanced through improving connectivitythrough rail, air, road and sea. Cooperation between Pakistan Railways andTurkish Railway Car Company (TUDEMSAS) and Turkish Locomotive and EngineCompany (TULOMSAS) for rail vehicles production maintenance, repair andoperation is also envisioned.
Turkey has expressed interest in developing legal framework for tourisminfrastructure planning, allocation of public properties to the investors,determination and classification of qualities of hospitality facilitiesbased on international standards.
Turkey intends to provide technical support in order to enhance promotion,marketing of tourism, advertising image of the country and production ofpromotional material. Seminars will be organized reciprocally.
Pakistan has recommended signing of an Memorandum of Understanding oncooperation in the field of investment focusing on auto industry, specialeconomic zones, food processing, mining and minerals besides constructionsector and tourism.
Pakistan looks up to Turkish cooperation in development of tourist resorts.Similarly, both sides have expressed interest in strengthening cooperationin the field of educational services, inter-university exchange programsand establishment of research centers.
The Pak-Turkey SEF will serve as the overarching strategic policy frameworkfor investment and trade relations. A high level Strategic CooperationCouncil will provide overall guidance and vision.
There shall be a strategic Economic Group co-chaired by Vice President ofTurkey and Finance Minister of Pakistan. There shall be seven joint workinggroups which will provide sector specific inputs.