Pacolli was elected in the third round with only 62 votes in the 120-seat parliament after he failed to receive two thirds of the vote in the first two rounds.
"Now, the Supreme Council for the Strategic Partnership between the two countries is under preparation. It is expected to take place in the nearest future," Kilic said.
Tens of thousands of opposition protesters have taken to the streets of Bahrain in spite of the government's efforts to meet some of the demands of anti-government activists.
Israeli Prime Minister Benjamin Netanyahu called the passage of Iranian warships through the Suez Canal a ploy by Iran to extend its regional influence at a time of instability.
“A decision, which is not based on political equality, will be accepted neither by the Turkish people in Cyprus, nor by us, their guarantors,” the Turkish Minister for EU Affairs and Chief Negotiator said.