Pakistan and Turkey will be entering into a currency swap agreement, South Asian News Agency reports. Through this agreement, traders and businessmen of the two countries will be able to trade in their respective currencies without drawing on their dollar-based foreign exchange (FX) reserves.
The move may boost bilateral trade, which is slated to double from $1 billion to $2 billion next year. The countries are also setting up a joint venture for locomotive manufacture in Pakistan for a special cargo train service, adds Online International News Network.
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