TPS-OIC agreement to prosper Pakistan, Turkey

December 05, 2023 (MLN): The implementation of the Trade Preferential System among the Member States of the OIC (TPS-OIC) agreement is anticipated to foster intra-OIC trade and propel Pakistan and Turkiye's economies towards a more prosperous future. 

This was discussed during a meeting between Commerce Minister Dr Gohar Ejaz and Turkish Counterpart Dr Ömer Bolat on the sidelines of the 39th Ministerial of COMCEC on Monday, according to a press release issued on the same day.

The meeting focused on critical discussions aimed at strengthening economic ties and fostering collaboration between Pakistan and Türkiye. 

The agenda also encompassed comprehensive talks on enhancing trade and investment, with a commitment to further liberalization through collaborative efforts.

Minister Dr Gohar Ejaz briefed his Turkish counterpart on the recent establishment of the Special Investment Facilitation Council (SIFC) and its pivotal role in facilitating investment.

Priority investment areas, including Agriculture, Mining, Energy, and IT, were highlighted, showcasing Pakistan's commitment to economic diversification and growth.

Dr Ömer Bolat expressed maximum cooperation in advancing bilateral trade relations, acknowledging the potential for mutually beneficial outcomes.

The meeting concluded with a shared commitment to fostering stronger economic ties and exploring avenues for sustained collaboration.

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