Pakistan proposes currency swap agreement to Turkey

Pakistani President Asif Ali Zardari Wednesday suggested to the visiting Turkish Prime Minister Recep Tayyip Erdogan a currency swap agreement between Pakistan and Turkey to facilitate business, trade and commerce, Presidential spokesman said.

Erdogan said that the Turkish government would consider the proposal of Currency Swap Agreement, spokesman Farhatullah Babar said after the meeting.

Briefing media Spokesperson to the President Mr. Farhatullah Babar said that the president, during the meeting, reiterated the proposal of upgradation of railway line between the two countries and urged the Turkish Prime Minister to seriously consider the proposal.

He said that Pakistan was eager to further enhance mutual cooperation between the two countries for taking maximum advantage of the existing potential of the two countries and to fully translate their equation into a strategic partnership.

He said that railway line upgradation project between the two countries was one such step for not only speedy transportation of the cargo but would also open new vistas of opportunities for the people and would contribute towards economic development.

Discussing regional situation, Zardari said that Turkey has an important role to play for not only bringing in socio-economic development in the region but also for the stability of the region. He said that regional issues can be best addressed by regional powers and finding indigenous solutions.

Erdogan said that Turkey would continue to support Pakistan and its people at every critical occasion and would actively participate in the reconstruction and rehabilitation phase for the flood affectees.

Source: Xinhua