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Pakistan, Turkey may ink currency swap
agreement
Monday October 31, 2011 11:50:55 AM,
IANS
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Islamabad: Pakistan
and Turkey are expected to sign a currency swap agreement to boost
trade, a media report said.
The agreement may be signed during the visit of President Asif Ali
Zardari to Turkey, Associated Press of Pakistan reported from
Istanbul.
Zardari arrived in Istanbul Sunday for the sixth trilateral summit
being hosted by Turkey to find a peaceful solution of the
Afghanistan issue.
Pakistan's Ambassador to Turkey Muhammad Haroon Shaukat said the
agreement would allow the two countries to move towards
arrangements to do trade in local currencies which will ease
pressure on their foreign exchange reserves.
Shaukat said negotiations between Pakistan and Turkey are also
progressing well for a Preferential Trade Agreement (PTA).
He said bilateral trade between the two countries was growing and
it had shown an increase of 50 percent last year reaching close to
$1 billion.
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