Pakistan and Türkiye have reaffirmed their commitment to increasing bilateral trade to $5 billion, marking a significant step toward strengthening economic cooperation and expanding their long-standing strategic partnership.
The understanding was reached during high-level talks in Istanbul between Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdoğan, where both leaders reviewed the full spectrum of bilateral relations and explored new opportunities in trade, investment, energy, defence, information technology, infrastructure, and industrial development.
Speaking after the meeting, President Erdoğan emphasized that both countries remain committed to achieving the previously agreed $5 billion trade target. He revealed that work is progressing on establishing a Special Economic Zone (SEZ) in Karachi for Turkish investors while negotiations continue to broaden trade and economic cooperation.
The Turkish president encouraged businesses from Türkiye to increase investments in Pakistan and highlighted defence collaboration as a cornerstone of the growing strategic partnership. He also praised Pakistan’s diplomatic efforts in promoting regional peace and welcomed the Islamabad Memorandum of Understanding, which contributed to easing regional tensions.
Prime Minister Shehbaz Sharif described Pakistan and Türkiye as trusted partners that have consistently supported each other during challenging times. He stated that discussions focused on expanding cooperation in petroleum exploration, mining, energy, information technology, logistics, infrastructure, manufacturing, and digital transformation.
The prime minister expressed confidence that the strong political relationship between the two countries would translate into greater economic cooperation, helping both nations achieve the ambitious $5 billion bilateral trade goal. He also reaffirmed Pakistan’s continued support for Türkiye on matters of mutual interest and appreciated Ankara’s consistent backing on the Jammu and Kashmir issue.
During the visit, Prime Minister Shehbaz also met senior executives of leading Turkish companies and invited them to explore investment opportunities in Pakistan’s priority sectors, including energy, infrastructure, mining, agriculture, logistics, telecommunications, and information technology.
Officials from both countries expressed optimism that stronger business-to-business partnerships, increased investment, and deeper economic collaboration would further strengthen the Pakistan-Türkiye strategic partnership and create new opportunities for sustainable growth.
