Pakistan and Turkiye Aim for $5 Billion in Trade

We encourage our investors, who are driving force of economic cooperation, to engage actively in Pakistan, says Erdogan,

Islamabad-(Mudassar Iqbal/APP)-President Erdoğan of Turkiye announced on Thursday that Turkiye and Pakistan have pledged to increase bilateral trade to $5 billion, highlighting their commitment to stronger economic relations.

We agree with Prime Minister Shehbaz Sharif to increase our efforts to reach the target of $5 billion dollars in trade volume,” Turkish President Recep Tayyip Erdoğan said at joint news conference with the Pakistani premier in Islamabad.

Accompanied by a high-level delegation, Erdoğan arrived in Islamabad late Wednesday night for a two-day visit to co-chair the 7th session of the Pakistan-Turkiye High-Level Strategic Cooperation Council (HLSCC) with PM Shehbaz.

In light of the deep-rooted historical ties between the two nations, the HLSCC, which was established in 2009, stands as the highest-level mechanism institutionalising Türkiye-Pakistan solidarity, Erdogan said.

“We have just concluded the seventh meeting of our council, where we reaffirmed our commitment to further strengthening our relations. Within this framework, we signed 24 agreements covering trade, water resources, agriculture, energy, culture, family and social services, science, banking, education, defence, and healthcare,” the Turkiye president added.

Erdogan said they organised a business forum with the participation of entrepreneurs from various sectors, emphasising: “We encourage our investors, who are the driving force of economic cooperation, to engage more actively in Pakistan.”

Both countries signed several memorandums of understanding (MoUs), protocols, and cooperation agreements across various sectors to further strengthen bilateral economic ties.

Erdogan also paid tribute to Pakistan’s people and its armed forces for their sacrifices in battling a surge in terrorism, insurgency, and other threats to regional stability.

“We reaffirm our support for Pakistan in its fight against all forms of terrorism,” the Turkish president said.

Reiterating its assistance in Pakistan’s counterterrorism efforts, Erdogan said: “We feel Pakistan’s support in our fight against all forms of terrorism.”

Moreover, voicing solidarity with the oppressed Kashmiris in Illegally Occupied Jammu & Kashmir (IIOJK), he said: “As Turkiye, our support for resolving the Kashmir issue through dialogue, based on UN resolutions and taking into account the expectations of our Kashmiri brothers, remains permanent.”

“Pakistan’s support for the just cause of the Turkish Cypriots is extremely meaningful to us,” he added.

Addressing the joint presser after the signing of the agreements, Shehbaz expressed hope that the visit would prove to be highly beneficial. The prime minister highlighted the longstanding Pakistan-Turkiye fraternal ties, which span centuries.

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Acknowledging Turkiye’s consistent support for Pakistan’s stance on the IIOJK issue, PM Shehbaz expressed Pakistan’s “unwavering” support for Turkiye and the Turkish Republic of Northern Cyprus.

Finance Minister Muhammad Aurangzeb and Turkish Minister of Trade Omer Bolat exchanged the signed documents of the declaration on the MoU between the Export Credit Bank of Turkiye and the Export-Import Bank of Pakistan.

Minister of Commerce Jam Kamal Khan and Turkish Minister for Trade Omer Bolat exchanged documents of the joint ministerial statement on cooperation of the verification of origin certificates used in trade, and an MoU on digitalisation of the verification of origin certificates used in trade.

Similarly, an MoU on cooperation in the field of industrial property was also exchanged by Minister of Commerce Jam and Turkish Minister of Industry and Technology Mehmet Fatih Kacir.

In the defence sector, an MoU on the exchange of military and civilian personnel for social and cultural purposes was exchanged by Minister of Defence Khawaja Muhammad Asif and Turkish Minister of Defence Yasar Guler.

Minister of Defence Asif and his Turkish counterpart also exchanged the signed documents of the MoU on cooperation in Air Force Electronic Warfare and an MoU between the Secretariat of Defence Industries and the Ministry of Defence Production, Pakistan.

Likewise, a protocol on training and cooperation in the field of military health was exchanged between the defence ministers.

Another MoU between Turkish Aerospace Industries (TAI) and the Naval Research and Development Institute (NRDI) of Pakistan was exchanged.

In the field of Science and Technology, an MoU for cooperation in halal trade was signed by Minister of Science and Technology Dr Khalid Maqbool Siddiqui and Turkish Minister of Trade Omer Bolat.

Dr Siddiqui and Turkish Minister of Industries and Technology Kacir also exchanged signed copies of an MoU on the Establishment of Legal Metrology Infrastructure.

Additionally, in the National Food Security and Research sector, the two sides signed a cooperation agreement on Seed Protocol to amend the agreement.

The documents were exchanged between Minister of National Food Security and Research Rana Tanveer Hussain and Turkish Minister of Agriculture and Forestry Ibrahim Yumakli.

Similarly, in the energy sector, the two sides signed the protocol to amend the agreement on cooperation in the field of hydrocarbons. The documents were exchanged between Minister for Energy Sardar Awais Ahmad Khan Leghari and Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar.

The two ministers also exchanged documents of two MoUs on cooperation in the field of energy transition and cooperation in the field of mining.

The two sides also signed a cooperation agreement in the field of water. The documents were exchanged between the Minister for National Food Security and Research Hussain, and the Turkish Minister of Agriculture and Forestry Yumakli.

Minister of Information and Broadcasting Attaullah Tarar and Director of Communications Fahrettin Altun exchanged the signed documents of MoUs on cooperation in the field of public relations and communications, and cooperation in the field of media and communications.

Meanwhile, the two sides signed a MoU on cooperation in the fields of religious services and religious education. The signed documents were exchanged by Minister of Religious Affairs and Interfaith Harmony Chaudhry Salik Hussain and Professor Dr Ali Ebras.

Dr Siddiqui and Minister of Industry and Technology Kacir also exchanged documents of an MoU between the scientific and technological research council Türkiye & National Textile University (NTU), Faisalabad, for Technical Assistance and development of Pakistan-Türkiye Textile Technology Centre.

Hussain and Fidan exchanged documents of MoU on technical cooperation in the field of health and pharmaceuticals.

Likewise, Finance Minister Aurangzeb and Turkish Foreign Minister Hakan Fidan exchanged the signed documents of the MoU in the field of technical cooperation between the Central Bank of Turkiye (CBRT) and the State Bank of Pakistan (SBP).

Tarar and Turkish Foreign Minister Fidan exchanged two documents of agreement on cultural cooperation, and agreement on co-production in audio-visual services.

In addition to the exchange of the documents, two MoUs have also been signed at the Pakistan-Turkiye Business Forum.

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