Pakistan, Turkey launch negotiations on FTA Oct 16, 2015: Pakistan and Turkey on Thursday started negotiations on a bilateral free trade agreement (FTA) covering trade in goods, services and investments. At the conclusion of the session, the two sides signed the terms of reference (TORs) for FTA negotiations. The next round of the negotiations will be held in Islamabad in December. This agreement will push towards a positive direction and strengthen our relations Turkey and will render positive outcomes in terms of the trade between the countries. This deal should be pursued whole heartedly as the political interests and issues of the two countries seems to be the same.
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Pak-Korea cooperation will benefit all Korean Ambassador Song Jong-hwan said a joint venture between Pakistan and Korea would be mutually beneficial. Korea is actively supporting Pakistan in its socio-economic development by extending financial assistance worth millions of dollars through the Economic Development Cooperation Fund (EDCF), this included $78 million that EDCF financing pledged for the Malakand tunnel project in 2011. In addition, over $45 million extended to develop seven grid stations in Gujranwala in 2007 and about $27.5 million were provided to build a grid station in Lahore. Further, Ambassador Song said a framework arrangement to provide $500 million in financing for the period from 2015 to 2017 was going to be signed soon at a government level. All this assistance and development projects will ensure that the country is heading towards a positive direction. The cooperation will reap huge benefits for the country.
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ADB to provide Pakistan $1.2 billion for infrastructure development The Asian Development Bank (ADB) has agreed to provide a $1.2 billion assistance package to Pakistan, the major chunk of which will be spent for improving power, transport, agriculture and urban service sectors. The assistance package will also expand the outreach of Benazir Income Support Programme. About 2.4 million women beneficiaries will be added to the programme with the help of this annual assistance package. The provision of this fund will be very beneficial for the country as it combats some of the very essential issues of the country. Power and agriculture sector of the country need attention so the country can find solution to improve the former and capitalize on the benefits that can be taken from the latter.
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TAPI gas pipeline project: Turkmenistan discusses shareholder agreement Turkmenistan hosted a meeting on a shareholder agreement on the Turkmenistan – Afghanistan – Pakistan – India (TAPI) gas pipeline project. The TAPI main gas pipeline is designed to make a significant contribution to the sustainable socio-economic development of the Asian region and in general, to contribute to the strengthening of the global energy security, it can become a true bridge of peace, friendship and long-term co-operation on the Eurasian continent by connecting South Asia with Central Asian countries rich in energy resources. for details please view pdf
