ISLAMABAD - Pakistan and Turkey here Thursday agreed in principle to initiate negotiations on Pak-Turkey Free Trade Agreement (FTA), besides increasing bilateral trade. Federal Minister for Commerce Makhdoom Amin Fahim and Turkish Minister of State for Science & Technology Mehmet Aydin in this regard signed the agreement after the two-day sessions of Joint Ministerial Commission. After signing ceremony, Fahim while addressing a press conference said that it was a great achievement for both countries that negotiations for FTA had been started between them. He added it was a big breakthrough for both the countries. He said, I cant predict how much time would be spent on finalising the FTA but I hope it would be finalised soon. The meeting was successful and good and various points relating to the trade between two countries were discussed, he added. Meanwhile, Turkish State Minister Mehmet Aydin said that Turkish Prime Minister would visit Pakistan in the next ten days and he would also discuss the FTA with Pakistani leaders and this would be his one of the top agenda for the tour. He said, I would take all Turkish stakeholders on board about FTA with Pakistan when I would go back to my country. He said the commercial and economic relations of Pakistan and Turkey should be further improved, adding, We would immediately work on it. According to the agreement, both sides are convinced that despite global economic crisis $2 billion bilateral trade volume target could be realised by the end of 2012. The two sides considering the importance of the effective functioning of private sector-based platforms in promoting bilateral relations decided to expedite the initiatives of the Pakistani-Turkish Business Council and held its meeting in the first half of 2010. Both sides also emphasised the importance of enhancement of trade through the regional economic organisations such as Economic Cooperation Organisation (ECO) and Organization of Islamic Conference (OIC) in boosting trade between the two countries. It was also agreed in two-day meeting that both sides would exchange reciprocal investment assessment delegations in 2010 with a view to determining potential sectors and furthering acquaintances among the investments circles of the two countries. According to the agreement, both the countries agreed to explore possibilities of cooperation in the form of joint ventures between the business communities. Agreement has also been reached to increase collaboration in the filed of science and technology between the two countries. Two agreements namely Protocol on Establishing a Mechanism for regular Consultations on Contracting and Consulting Engineering Services and MoU on planning between Pakistan and Turkey have been also received from the Turkish side. The 13th session of Pak-Turkish Joint Ministerial Commission was held on 14-15 October in Islamabad. Mehmet Aydin led the Turkish delegation while Makhdoom Amin Fahim led the Pakistani delegation. In two sessions, both the countries reviewed the trends in the overall economic and trade relations between two countries. APP: Meanwhile, President Asif Ali Zardari on Thursday called for early finalization of Preferential Trade Agreement with Turkey to further enhance the level of trade and commercial ties between the two countries. Talking to Turkish Minister of State for Science, Technology and Information Prof Mehmet Aydin here at the Aiwan-e-Sadr, the President said the current level of trade of $ 600 million between the two countries was far below the existing potential. The President invited the Turkish investors to undertake joint venture projects in infrastructure, housing, construction, power, tourism, oil and gas sectors in Pakistan.