Pakistan and Turkiye pledge to strengthen bilateral trade relations

Pakistan and Turkiye have reaffirmed their commitment to expanding bilateral trade, aiming to achieve a target of $5 billion, following the signing of the Trade in Goods Agreement 2022.

Both nations emphasised the importance of enhancing trade and investment through more Government-to-Government (G2G) and Business-to-Business (B2B) arrangements, according to a press release from Pakistan's finance ministry.

The statement came during a farewell courtesy call by Turkiye's Ambassador, Mehmet Paçaci, on Pakistan's Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.

The meeting highlighted the deep-rooted ties between Pakistan and Turkiye, based on shared faith, history, and cultural connections.

Minister Aurangzeb praised Ambassador Paçaci's role in strengthening bilateral relations and reiterated Pakistan's commitment to deepening its partnership with Turkiye across various sectors, including trade, investment, and technical cooperation.

He noted progress made during a recent visit by a Turkish trade delegation, led by Trade Minister Prof. Dr. Omer Bolat, which explored new areas of cooperation in energy, agriculture, infrastructure, and technology.

The Minister extended his best wishes to Ambassador Paçaci for his future endeavors and expressed confidence in the continued collaboration and enduring friendship between the two countries.

Ambassador Paçaci expressed his gratitude for the support provided by the Pakistani government during his tenure and appreciated the efforts to strengthen economic ties. He assured Turkiye’s continued commitment to working towards shared goals with Pakistan

Last week, Finance czar Muhammad Aurangzeb highlighted the significance of collaboration with Turkiye in the aviation sector, describing it as a "vital component" of the two nations' bilateral relations.

His remarks came during a meeting on Friday with the Chairperson of Pegasus Airlines, Mehmat T. Nane, and the CEO of Lucky Cement Limited, Muhammad Ali Tabba.

Aurangzeb said that the partnership aligned with Prime Minister Shehbaz Sharif's vision to elevate Pakistan's aviation industry.

He also referred to a recent meeting with the Turkish Trade Minister, where discussions covered various avenues for enhancing trade and business collaboration between the two countries.

During the meeting, Mehmat T. Nane provided an overview of Turkiye's aviation strategy, identifying key areas where Pakistan could benefit from Turkish expertise.

He elaborated on how Pakistan might leverage Turkiye’s experience to advance its own aviation sector.