Eximbank, Pakistan sign $300 m deal at TUSKON meeting

Turkey's Eximbank, a state-controlled bank established to support exports, signed an agreement worth $300 million with the Pakistani government on Wednesday to provide financial aid to infrastructure and urbanization projects in Pakistan. At the meeting organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON), Turkish Economy Minister Zafer Caglayan, Pakistan Prime Minister Nawaz Sharif and TUSKON Chairman Rizanur Meral made speeches about improving trade relations. Sharif referred to the economic and political developments in Pakistan and called on Turkish businessmen to increase their investments in the country, saying: "Pakistan has a better future and our agenda as the government is to raise the prosperity of the citizens in the country beginning with developing the economy, providing energy supply, security and decreasing unemployment. We also plan to construct 500,000 new homes and the housing models implemented by the Housing Development Administration of Turkey [TOKİ] complete our vision. We ask Turkish constructors to take up real estate projects in the country as well as infrastructure." Meanwhile, Minister Caglayan pointed out the economic improvements taking place in Pakistan, adding that Pakistan's development would make Turkey happier. "Trade volume between the countries used to be $175 million 10 years ago; however, this figure reached one billion dollars last year. We believe trade opportunities that will increase the volume will be laid in front us in the future."