Pakistan and Turkey have agreed in principle to increase the level of bilateral trade to US$ 2 billion from existing US$ 700 million in a year.
The understanding was reached during a meeting between the Foreign Minister Shah Mahmood Qureshi and his Turkish counterpart Prof Dr Ahmet Davutoglu, on the sidelines of D-8 Council of Ministers held in Kuala Lumpur, says a message issued here by Pakistan's High Commission in Malaysia.
Both sides also agreed to move forward on timeline basis for signing of Preferential Trade Agreement (PTA) and abolition of visa for businessmen between the two countries.
Talking to the Turkish Foreign Minister, Qureshi expressed the confidence that the high-level consultative council established during the recent visit of Turkish Prime Minister, would function under the patronage of the two prime ministers.
Turkish Foreign Minister said that Turkey has been cooperating with certain other countries on the same lines and model.
Qureshi requested the Turkish Foreign Minister to provide Pakistan with the successful model of cooperation which Turkey consider successful for intensive cooperation with other countries.
The framework for cooperation would be identified for future meetings of the ministers which will precede before the prime ministers' meeting to finalize the areas of cooperation identified by the concerned ministers.
Qureshi appreciated the consultations and cooperation between Pakistan and Turkey in the UN, Economic Cooperation Organization (ECO), D-8 Forum and other international organizations, and expressed the hope that such cooperation would continue in furtherance of mutual and regional interest in these fora.