Pakistan and Turkiye have reaffirmed their commitment to enhancing economic ties, with a focus on increasing bilateral trade and investment.
Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan pledged to unlock the full potential of trade between the two countries during the Pakistan-Turkiye Business and Investment Forum held in Islamabad.
Trade Growth and Future Goals
Addressing the forum, President Erdogan highlighted the significant increase in trade volume.
“Our bilateral trade volume is strengthening year by year. In 2024 alone, it increased by approximately 30%,” he stated.
However, he emphasized that the current trade volume still falls short of the ambitious $5 billion target.
“We are still far behind our goal, but I am confident that all relevant stakeholders will work together to achieve this milestone.”
To accelerate progress, he proposed expanding the Preferential Trade Agreement (PTA) and evolving it into a Free Trade Agreement (FTA) to ensure a stable and balanced increase in trade.
Infrastructure and Connectivity for Economic Growth
President Erdogan stressed the need for improved transportation infrastructure, particularly road and railway networks, to facilitate trade expansion.
“Projects such as reactivating the Islamabad-Tehran-Istanbul trade railway line and leveraging the Middle Corridor and China-Pakistan Economic Corridor (CPEC) will benefit the entire region.”
He also highlighted Pakistan’s strategic position, dynamic workforce, and fertile agricultural land, stating that Pakistan has the potential to become a major global economy in the near future.
Investment Opportunities in Key Sectors
President Erdogan encouraged Turkish businesses to invest in Pakistan’s energy, agriculture, healthcare, IT, infrastructure, and trade sectors, assuring them of full support from Turkiye.
“Pakistan is undertaking significant economic projects, and we are committed to facilitating investment and collaboration.”
Touching on global conflicts, President Erdogan reaffirmed Turkiye’s unwavering support for Gaza.
“Gaza belongs to our Gazan brothers and sisters, and it will remain so forever,” he declared.
He also emphasized that Pakistan and Turkiye will continue to work together for peace and stability in the region.
Pakistan’s Commitment to Economic Partnerships
Prime Minister Shehbaz Sharif highlighted the deep-rooted historical ties between Pakistan and Turkiye, dating back to the pre-partition era.
He reaffirmed Pakistan’s stance on Gaza and Kashmir, stating:
“Pakistan has always stood with Turkiye for the freedom of the people of Gaza and Kashmir.”
Urging investors to contribute towards achieving the $5 billion trade target, PM Shehbaz stressed the importance of translating agreements into action.
“We signed various MoUs and agreements today, but what truly matters is implementing them effectively. I assure my government’s full support to Turkish investors.”
Pakistan-Turkiye trade, business relations, investment opportunities, Shehbaz Sharif and Erdogan meeting, bilateral trade agreements.
Free Trade Agreement (FTA), Islamabad-Tehran-Istanbul railway, CPEC collaboration, economic growth, MoUs, and investment in Pakistan.
