Turkey and Pakistan to sign 3 Trade deals

Turkey has the world’s 18th largest nominal GDP and the country is ranked amongst the world’s leading producers of agricultural products,textiles,motorvehicles,ships,other transportation equipment,construction materials,consumer electronics and home appliances.

While many economies have been unable to recover from the recent global financial recession, the Turkish economy expanded by 9.2% in 2010, and 8.5 percent in 2011.Turkey became the fastest growing economy in Europe and one of the fastest growing economies in the world.

According to IMF, Turkey is an emerging economy and the Turkish economy did quite well in 2015, especially when compared with other emerging countries.The latest data confirms that the economy grew by 4 percent in 2015.

According to App,Pakistan and Turkey are in the process of finalizing three deals in the defense production sector. The spokesperson from Ministry of defense mentioned in a report ‘the deal would be signed very soon and the goal of the deal is to develop cooperation in the defense sector.’

The deal is a great achievement for Pakistan Aeronautical Complex (PAC) Kamra as according to the Ministry of Defence Production “Turkey is going to buy a large number of Super Mashshaks from Pakistan.”

The aircraft is proudly manufactured at (PAC) Pakistan Aeronautical Complex and is already being used by Saudi Arabia, Oman, Iran and South Africa.Earlier in 2016 Qatar and Nigeria also purchased the same aircraft.

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The super Mashshak aircraft of the Pakistan Air Force was also put up for static as well as aerial display in the Dubai Air Show last year and a large no of countries expressed their interest in the aircraft. It is an advanced version of the Mushshak basic trainer, with a service ceiling of 22,000 feet and a maximum speed of 268km/h.

The two other Defence deals include, development of a fleet tanker for the Pakistan Navy and upgradation of the Agosta submarine.

The launching ceremony of the fleet tanker for the Pakistan Navy is planned for August 2016 and would be attended by dignitaries from both countries.

The upgradation of Agosta 90-B Submarines of the Pakistan Navy will be carried out by a Turkish firm STM and an MOU has been signed officially in this regard.The goal of this project is to enhance the operational capabilities of existing submarines owned by Pakistan Navy.

According to Ankara (Web Desk), the Turkish Government also announced to gift Pakistan with 34T-37 fighter-training aircraft and its spare parts on a gratis basis in a landmark defence cooperation agreement.

The latest Defence contracts between Pakistan and Turkey will further develop and enhance the existing trade ties between the two countries.The deals will also help Pakistan earn a reasonable amount of foreign exchange.


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