Prime Minister Imran Khan has constituted a 10-member high level ministerial committee with Finance Minister Asad Umar as convener, to negotiate Strategic Economic Framework (SEF) between Pakistan and Turkey, official sources told Business Recorder. Prime Minister recently visited Turkey and held meetings with Turkish President, Recep Erdogan, besides delegation level talks and meetings with the business community.
On his return the Prime Minister constituted a committee for this purpose but did not include the name of Foreign Minister Shah Mehmood Qureshi. However, on February 1, 2019, Ministry of Finance (External Finance Policy Wing) issued another notification with partial modification of Finance Division's notification of January 11, 2019 saying the PM has included Minister for Foreign Affairs as a member on the committee for the SEF between Pakistan and Turkey, which now comprises the following members: (i) Minister for Finance, Revenue & Economic Affairs- convener; (ii) Minister for Foreign Affairs- Member; (iii) Minister for Planning, Development and Reform -Member;(iv) Minister for Power- Member; (v) Minister for Defence Production- Member; (vi) Minister for National Health Services, Regulations and Coordination- Member);(vii) Minister for Inter Provincial Coordination (for tourism sector), Member; (viii) Minister for Aviation- Member; (ix) Advisor to the Prime Minister on Commerce, Textile, Industry & Production and Investment- Member and; (x) Chairman Board of Investment, Member/ Secretary.
The purpose of SEF is to enhance bilateral economic cooperation between the two countries with special focus on trade and investment. The committee will finalize proposals/measures to be incorporated in the framework.
Last year, Pakistan and Turkey held talks on Free Trade Agreement (FTA) which remained unsuccessful because Turkey was not ready to give trade concessions to Pakistan in items of Pakistan's interest. Both countries did not even sign the minutes of FTA talks.
During the recent visit of Prime Minister Imran Khan to Turkey issues of bilateral interest were discussed but no positive outcome was achieved.
Pakistan which is knocking on doors of different countries to get financial aid to deal with its financial crisis, also discussed different issues with the leadership of Turkey especially during one on one meeting of Prime Minister Iman Khan with Recep Erdogan.
The sources said Turkey had asked Pakistan to firm up suggestions for long-term strategic economic framework which would cover different sectors of the economy.
The committee, sources said, would finalise its recommendations within a couple of months so that it should be signed during the forthcoming visit of Turkish President to Pakistan.
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