Reaffirming close, friendly and brotherly ties which are deeply rooted in history, and a shared culture;
Acknowledging that these brotherly bonds which have stood the test of time and transcend geographical distances are developing into a robust, strong and strategic partnership;
Recognizing that the two countries share a common vision and desire for peace and prosperity of their people and their region;
Recalling the Joint Political Declaration on Intensified Cooperation and Establishment of High Level Cooperation Council signed in Islamabad in October 2009 and the Joint Declaration on Enhancing Pakistan-Turkey Partnership signed in Ankara in December 2010;
Desirous of giving further impetus to the excellent relations between the two countries and for translating the gains arising out of their partnership for peace and prosperity into a more meaningful, mutually beneficial, long term cooperation in the economic and commercial areas;
Endorsing the results of the meetings of Joint Working Groups of the High Level Cooperation Council held in Islamabad on 19 and 20 May 2012 and at the 14th Joint Economic Commission held in in Islamabad on 21 May 2012,

We as the co-chairs of the Second Meeting of High Level Cooperation Council held in Islamabad, on 22nd May 2012 with the participation of:

H.E. Bekir Bozdağ, Deputy Prime Minister, H.E. Erdoğan Bayraktar, Minister of Environment and Urban Planning, H.E. Zafer Çağlayan, Minister of Economy, H.E. Taner Yıldız, Minister of Energy and Natural Resources, H.E. Binali Yıldırım, Minister of Transport, Maritime Affairs and Communications,

H.E. Mr. Makhdoom Amin Fahim, Minister of Commerce,  H.E. Dr. Abdul Hafeez Sheikh, Minister of Finance and Economic Affairs, H.E. Syed Naveed Qamar, Minister for Water and Power, H.E. Dr. Arbab Alamgir Khan,  Minister for Communications, H.E. Mr. Qamar Zaman Kaira, Minister for Information and Broadcasting, H.E. Ms. Samina Khalid Ghurki, Minister for National Heritage and Integration, H.E. Mir Hazar Khan Bijarani, Minister for Inter Provincial Coordination, H.E. Mr. Nazar Mohammad Gondal, Minister for CADD, Minister-in-Waiting, H.E. Mr. Salim H.  Mandviwalla, Chairman Board of  Investment, H.E. Nawabzada Malik Amad, Minister of State for Foreign Affairs,

 Members of Parliaments as well as other prominent dignitaries and officials,

Agreed as follows:

Political Cooperation
The High Level Cooperation Council shall continue to be utilized as a major political forum to steer bilateral relations in all spheres.
Intensive exchanges at the leadership level, parliamentarians, media representatives and businessmen shall be furthered.
Mutual support at regional and international forums shall be continued.

Annual consultations at the level of Foreign Ministers would be held alternately in Ankara and Islamabad. The first meeting will be hosted by Pakistan in Islamabad in the last quarter of 2012.

Security and Defence Cooperation
Cooperation between the security agencies of the two countries would be broadened in the fields of counter terrorism and drug trafficking especially in the areas of capacity building and exchange of experience.
The armed forces of the two countries would intensify their ongoing cooperation while defence related industries would focus on joint defence production and related research and development activities.

Finance and Banking
Cooperation in the following areas shall be extended through exchange of information and experience:
Banking sector including Islamic banking, microfinance banking, trainings and exchange visits;
Insurance sector including insurance information center, catastrophe insurance, insurance arbitration methods and private pension system;
Capital market regulation, instruments and their implementation;
Public debt and risk management systems;
Budget (Performance Based Budgeting), Financial Reporting and Internal Financial Control.
Cooperation between the Financial Crimes Investigation Board (MASAK) of Turkey and Financial Monitoring Unit (FMU) of Pakistan in the field of anti money laundering and terrorism financing shall be strengthened by sharing information.
Means of collaboration between Istanbul Stock Exchange and Karachi Stock Exchange with a view to facilitate cross border listing and portfolio investment, and establishing an electronic exchange link to have trading in stocks listed at both exchanges shall be explored.
Implementation of the Currency Swap Arrangement for mutual cooperation signed between the Central Bank of the Republic of Turkey and the State Bank of Pakistan shall be furthered to maximize benefits.

The existing volume of trade between the two countries does not reflect the real potential of their respective economies. Therefore, all possible efforts to further promote and diversification of bilateral trade shall be exerted, including facilitation of transportation of merchandise as well as conclusion of bilateral Preferential Trade Agreement.
In order to create mutually agreed facilitative frameworks to substantially enhance economic and commercial relations, the concerned Ministries of the two countries were directed to conclude their technical discussions expeditiously in order to finalize a comprehensive PTA as soon as possible, which would provide comparative advantage to entrepreneurs from both sides.
Welcome the conclusion of the treaty on Protection and Promotion of Investments. Call on the corporate sectors of the two countries to invest through joint ventures in the fields of energy, construction, steel production, urban development and agro based industry.
Exchange of delegations with a view to enhance bilateral trade and investment in textile and textile machinery, automotive and agricultural industry, food processing industry and all other potential trade and investment sectors shall be encouraged.
Pakistan will provide special incentive packages and establish Exclusive Investment Zones for the Turkish companies desirous of investing in Pakistan.
Mutual cooperation for further development of economic ties with the Central Asian countries and smooth functioning of regional cooperation initiatives shall be continued.
Next meeting of the Turkey-Pakistan Joint Business Council shall be held in September 2012 or in March 2013 in Turkey which will bring up new trade and investment opportunities in both countries.

Railways and Communications
Bilateral cooperation to facilitate transit trade and improvement of transport corridors, ship building and repairs, Vessel Tracking System, road construction projects, up-gradation of railway rolling stock and locomotives shall be further enhanced.
Training of transport officials for capacity building and exchange of visits of technical experts shall be supported.
An improved and efficient rail and road network was important for the promotion of trade and economic linkages. In this respect, operations of Islamabad-Tehran-Istanbul Container Train (ECO Train) on a regular and timely basis with the participation of private sectors should be ensured.
Turkey’s strength and expertise in the area of road transport would be utilized for further cooperation in this field.
The two countries would explore possibilities of cooperation in the field of Railways including running of High Speed Trains as well as production and repair of passenger and cargo wagons.

Cooperation in power generation shall be developed through strengthening of information sharing on energy projects and facilitation of private sector involvement.
A meeting will be held in Turkey before the end of 2012 to develop cooperation in the field of renewable energy.
Cooperation in the field of geothermal sources, geo-information systems (GIS) and remote sensing shall be developed through exchange of scientific and technical information, exchange of expertise, study visits and training.
Cooperation in the fields of coal mining and trade of petroleum products shall be strengthened.
A Plan of Action on cooperation in the energy sector would be drawn up as agreed during the meeting of the President of the Republic of Turkey and the President of the Islamic Republic of Pakistan in Islamabad on 2 April 2010. The Joint Working Group on Energy would work on the Plan of Action and would present its recommendations to the next HLCC.
The private Pakistani and Turkish companies would be encouraged to set up hydro electric power stations and sub stations on turn-key basis.
The two countries would collaborate in the field of renewable and clean energy including wind, solar, geothermal and biogas. The MoU on cooperation in the field of renewable energy signed during the 2nd meeting of HLCC would serve as the basis for this cooperation.

Turkey shall supply teachers, curriculum and training materials for Turkish language courses, provided that the Turkish language be introduced in curriculum in Pakistan.
Turkey shall provide for training of trainers for general as well as technical and vocational education.
Experience shall be shared on developing curricula and list of standards, training materials for use in vocational and technical training schools.
A Joint Working Group on Technical and Vocational Training will be constituted and the Terms of Reference will be mutually decided through diplomatic channels.
A new exchange programme for civil experts in fields such as energy, transport, agriculture, security services and public administration shall be initiated. This programme shall provide on the job training opportunities to contribute capacity building.
Scholarships schemes would be reviewed keeping in view the needs of the students and to place more focus on science and technology education.
The proposal to set up Techno parks through cooperation between universities and the corporate sector would be pursued vigorously.

Culture and Tourism
The years 2013-2014 shall be celebrated as cultural years in both the countries with a view to underline cultural commonalties and historic relations of their people.
Cooperation in the field of media should be strengthened through sharing of news and information, exchanges of television programmes and documentaries. In this respect, the MoUs already signed between the state media should be vigorously followed.
Film days and exchange of cultural troupes to promote performing arts of two nations and exhibitions of paintings, calligraphies, miniature arts, photographs and folks crafts shall be organized in both countries. Direct contact between museums and institutions as well as exchange of literary work, publication and translation of respective literature of Turkey and Pakistan shall be encouraged
The Government of Pakistan shall offer a free ethnographic corner to Turkey in Pakistani museums.
Turkey intends to open a cultural center in Pakistan in near future and welcomes the same initiative from Pakistan.
Keeping in view their diversified cultures and geographical features Turkey and Pakistan shall cooperate in the area of tourism.  In this framework, Turkey and Pakistan shall participate in tourism fairs organized in both countries.  Both sides shall invite their tour operators to familiarize them with their touristic destination. Turkey offers training for managers and officials in tourism sector of Pakistan.

Implementation Modalities
The seven Joint Working Groups of the High Level Cooperation Council shall continue their work to develop specific programmes and projects.
During the Second Meeting of High Level Cooperation Council, a number of MoUs/agreements on cooperation in various fields were signed. The list is annexed.
The next meeting of the High Level Cooperation Council shall be held in Ankara in 2013. The dates shall be agreed upon through diplomatic channels.
Done in Islamabad on 22 May 2012 in Turkish and English languages, both texts being equally authentic.

Recep Tayyip Erdogan
Prime Minister of the Republic of Turkey

Syed Yusuf Raza Gilani                   
Prime Minister of the Islamic Republic of Pakistan

List of MoUs/Agreements

1.      Memorandum of Understanding on Solid Waste Management between Karachi Municipality and Albayrak Holding
2.      Protocol between Middle East Technical University and Quaid-i Azam University
3.      Protocol on Cooperation in the Field of Archives between the Government of the Republic of Turkey and the Government of the Islamic Republic of Pakistan
4.      Agreement Between the Government of the Republic of Turkey and the Government of the Islamic Republic of Pakistan Concerning the Reciprocal Promotion and Protection of Investments
5.      Memorandum of Understanding between the Government of the Republic of Turkey and the Government of the Islamic Republic of Pakistan in the Field of Urbanization
6.      Framework Document Between Ministry of Transport, Maritime Affairs and Communications of the Republic of Turkey and Ministry of Communications of the Islamic Republic of Pakistan Concerning Cooperation in the Field of International Road Transport
7.      Memorandum of Understanding between the Government of the Republic of Turkey and the Government of the Islamic Republic of Pakistan on Cooperation in the Field of Renewable Energy
8.      Joint Economic Commission Protocol
9.      Joint Declaration of the Second Meeting of Turkey-Pakistan High Level Cooperation Council

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