Pakistan, Turkiye set trade target of $5 billion

ISTANBUL:

Pakistan and Turkey on Saturday expressed their commitment to increase bilateral trade volume to $5 billion and discussed ways to increase bilateral trade and investment in special economic zones.

Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan made the commitment while addressing a joint press conference after their meeting here.

The Turkish president said that peace efforts in the Middle East could not succeed without regional support and that Israel must not be allowed to “dynamize” the US-Iran peace deal.

Speaking alongside Prime Minister Shehbaz Sharif, Erdogan said: “No solution that does not take strength from the will and contribution of regional countries can be lasting.”

“We are closely following the Israeli administration’s attempts to deepen the (US-Iran) deal… The current war-addicted Israeli government must not be allowed to drown our geography in the smell of gunpowder and blood again,” Erdogan said.

Erdogan also said Turkey aimed to deepen cooperation with Pakistan in energy, transport, critical minerals, information technology and defense while pursuing a bilateral trade target of $5 billion.

The Prime Minister in his remarks appreciated the unprecedented progress of Turkiye in all fields under the leadership of President Erdogan and said that Pakistan was proud of its friendship with Turkiye.

He said important meetings were held with Turkish businessmen in the B2B forum and extensive and constructive talks were held with President Erdogan.

“We discussed increased investment in special economic zones and we are determined to reach the target of $5 billion in bilateral trade volume.” He mentioned the common position and cooperation of the two countries on global and regional conflicts and said that Pakistan supported Turkey’s position on the Cyprus issue.

He thanked Turkiye for its unequivocal stand on the Kashmir issue. The prime minister cited the talks as aimed at strengthening bilateral cooperation, but said Pakistan’s success was Turkey’s success and Turkey’s progress was Pakistan’s progress. “We need to give a new dimension to the partnership between Pakistan and Turkey.”

He thanked President Erdogan for the wonderful welcome and warm hospitality. Describing Istanbul as a beautiful city and a beautiful blend of East and West, he said that the people of Pakistan and Turkiye have deep love and attachment for each other.

“There is a deep-felt bond between the two,” he said, recalling that in Turkey’s war of independence, the Muslims of the subcontinent fully supported and mothers and sisters donated their jewelry.

“This unique relationship is based on shared faith, culture, history, mutual brotherhood and sacrifice.”

He said that Pakistan-Turkey relations have a wonderful history. Both countries always supported each other in any difficulty.

“Be it war or earthquake, natural calamities or floods, Turkiye has always supported Pakistan. Turkiye’s help in Muzaffargarh and other flood affected areas is a part of history,” he said.

He said that Turkish President Recep Tayyip Erdogan himself came to flood-hit Muzaffargarh along with his wife and Turkish President’s wife even donated her necklace to the victims and her action won the hearts of people in Pakistan.

The prime minister also thanked Turkiye for establishing modern hospitals and schools in the areas affected by natural disasters and for its cooperation in social and economic development. The prime minister said: “We are proud that Pakistan and Turkiye are one soul, two bodies. The thoughts of Maulana Jalaluddin Rumi and Allama Iqbal guide us.”

In his remarks, the President of Turkiye Tayyip Erdogan offered his condolences to the Pakistani citizens who lost their lives in the tragic bus accident in Balochistan. He said that during the talks, they exchanged views on regional and global issues with a special focus on bilateral relations.

He said the whole world had a sigh of relief thanks to the calm achieved through the Islamabad MoU.

“Recently, reports in the international media have highlighted the challenges involved in the negotiation process,” he said, congratulating Prime Minister Shehbaz Sharif and the people of Pakistan for playing a major role in achieving this outcome.

He said Turkiye supported and would continue to support any move to reduce tensions in the region and resolve issues through diplomatic means. “We are closely monitoring the Israeli administration’s provocations aimed at sabotaging the agreement. The Zionist regime had tied its survival to the continuation of the conflicts in the region.”

He said Israeli forces also continued their illegal and inhumane attacks on the people of Gaza. He said Turkiye sought to create an environment where all the people of the region, regardless of their faith, can live in peace and security.

“We are also doing our utmost to create such an environment. We will continue to work in solidarity with brotherly countries, first and foremost Pakistan, to strengthen peace, stability and prosperity in the region,” he stressed.

He said: “Our solidarity with Pakistan continues in all areas. We discussed the steps we can take to further improve our trade and investment relations in a manner befitting the spirit of solidarity.”

“We have confirmed the target of increasing the bilateral trade volume to the previously set level of five billion US dollars. The respective commerce ministries were working on the special economic zone for businessmen in Karachi. Similarly, negotiations were underway to expand the scope of our preferential trade agreement,” he revealed.

He said he believed the business forum attended by Prime Minister Shebaz Sharif would also contribute to our relations in terms of investment and trade.

“We also encourage our investors to engage in more activities in Pakistan. Our cooperation in the defense industry is one of the cornerstones of our economic relations and it continues to grow stronger with each passing day. We are implementing these projects step by step,” he added.

He said that Turkiye wanted to deepen cooperation with Pakistan in energy, transport, critical minerals and information technology, and we confirmed the joint commitment on this path.”

Earlier on Saturday, officials from both countries attended a “business forum” in Istanbul. Turkish Energy Minister Alparslan

Bayraktar said Turkish firms wanted to contribute to projects in Pakistan and share Turkey’s energy sector expertise as Pakistan undergoes a transformation of its electricity sector.

Investment

Prime Minister Shehbaz Sharif on Saturday reaffirmed the government’s commitment to maintaining a transparent, predictable and investment-friendly business environment, supported by the Special Investment Facilitation Council (SIFC), to facilitate strategic investments in high-value sectors, especially information and communication technologies.

The Prime Minister expressed these views during a meeting with the CEO of Turkcell, Ali Taha Koc, who called on him in Istanbul, Turkiye.

During the meeting, the Prime Minister emphasized the importance of deepening cooperation between Pakistan and Turkey in the digital and technology sector.

He shared the government’s vision of establishing a Pakistan-Turkiye Digital Corridor to strengthen regional digital connectivity, facilitate secure cross-border data flows and promote the integration of digital infrastructure, the PM Office Media Wing said in a press release.

Highlighting Pakistan’s rapidly evolving digital landscape, the Prime Minister invited Turkcell to explore long-term collaboration with Pakistani institutions in areas including 5G deployment, network optimization, spectrum management, digital infrastructure and technology transfer.

He also encouraged the company to consider partnerships in local manufacturing of telecommunications equipment, software development, digital skills development and capacity building, noting that such collaboration would strengthen Pakistan’s technology ecosystem while creating opportunities for innovation, employment and sustainable growth.

Appreciating the Government of Pakistan’s forward-looking digital transformation agenda, Ali Taha Koc expressed Turkcell’s keen interest in exploring opportunities for cooperation in telecommunications, digital infrastructure and emerging technologies.

He reaffirmed the company’s commitment to work closely with the relevant Pakistani stakeholders to develop mutually beneficial partnerships that contribute to the shared economic and technological ambitions of Pakistan and Turkey.