Islamabad: Several representatives of the Turkish government have presented a set of proposals for a Strategic Economic Framework (SEF) to the Government of Pakistan, according to a news source. Both parties had previously agreed to enter into a SEF during Prime Minister Imran Khan’s visit to Turkey.
The SEF proposals cover the tourism, trade, hospitality, healthcare, housing, education, aviation, banking, and agriculture industries. Pakistan had sent its proposals to the Turkish side beforehand. Turkish Vice President Fuat Oktay had subsequently acknowledged their receipt and confirmed that Turkey would present its proposals soon.
Reportedly, this SEF agreement aims to increase the volume of bilateral trade between the two countries by up to five times. Currently, the said trade-volume figure amounts to USD 900 million. Both countries are making efforts to operationalise the SEF as soon as possible and will sign a free-trade agreement (FTA) for this purpose this year.
Both sides have agreed to facilitate trade through their road, rail, air, and sea networks. Turkey will also develop a legal framework for tourism and infrastructure projects based on international standards.
