PM says $5b trade volume with Turkiye possible

Shehbaz meets world leaders in Ankara

ANKARA:

Prime Minister Shehbaz Sharif said on Sunday that increasing the bilateral trade to $5 billion in the next three years was possible as both the countries had started the barter trade from May 31.

In a tweet, Shehbaz stated that he met with the heads of leading Turkish business groups during his two-day official visit to Ankara on Saturday, adding that the Turkish entrepreneurs evince keen interest in establishing joint ventures with Pakistani firms.

In my meetings with heads of leading Turkish business groups yesterday, I highlighted the need for investment & trade in the fields of agriculture, energy, information technology and construction. Exciting opportunities have emerged for collaboration especially after the historic…

— Shehbaz Sharif (@CMShehbaz) June 4, 2023

The prime minister arrived in Ankara on Friday on a two-day official visit to attend a ceremony on Saturday marking the re-election of Recep Tayyip Erdogan as the country’s president.

During his stay in Ankara, the chief executives of Turkish business groups called on the prime minister. Shehbaz invited the Turkish businessmen to invest in Pakistan and establish strategic collaboration in various sectors.

“In my meetings with heads of leading Turkish business groups yesterday, I highlighted the need for investment & trade in the fields of agriculture, energy, information technology and construction,” the prime minister said in a tweet on Sunday.

“Exciting opportunities have emerged for collaboration especially after the historic Trade-in-Goods Agreement between Pakistan & Turkiye became operational on May 31 this year.” he further wrote on his Twitter handle.

“The target of increasing bilateral trade volume to $5 billion annually over the next 3 years is very much achievable. Was glad to find discernible interest of the Turkish business community in building on the existing partnerships & establishing new ventures.”

Before his departure for Islamabad, the prime minister also met with various world leaders and discussed with them the bilateral relations and outlined the government’s vision to facilitate foreign direct investment and encourage joint ventures.

Shehbaz met Kosovo’s President Vjosa Osmani-Sadriu, Uzbek President Shavkat Mirziyoyev, Iranian First Vice President Mohammad Mokhber and Turkiye’s Nationalist Movement Party (MHP) Chairman Devlet Bahceli.

Their discussions focused on expanding trade and investment ties to maximise mutual gains from available opportunities in Pakistan and enhance cooperation in key sectors of the economy through the direct presence of Turkish enterprises via joint ventures.

Read more: PM meets world leaders in Türkiye

The prime minister met former deputy prime minister of Turkiye and MHP Chairman Bahceli and conveyed his felicitation over his party’s success in the recent general elections, the Prime Minister’s Office Media Wing said in a press release.

In the meeting with Iranian first vice president Shehbaz referred to the establishment of a market at the Balochistan-Sistan border and his recent meeting with the Iranian president. Welcoming the commencement of barter trade, Shehbaz hoped that it would mutually benefit the people of both the countries.

In his meeting with Uzbek President Mirziyoyev, the two leaders discussed regional cooperation, connectivity and further strengthening of bilateral cooperation in diverse fields, the press release said. In the meeting with Kosovo’s President Vjosa Osmani-Sadriu, both the leaders reiterated their desire to promote bilateral relations and cooperation in different fields.

Prime Minister Shehbaz, after completing his two-day official visit to Turkiye, left for home. Senior officials of the Turkish Foreign Ministry, Pakistan's Ambassador to Turkiye and other officials of the embassy saw off the prime minister and his delegation at the Ankara International Airport.