Pakistan, Turkiye to develop future trade plan

Federal Minister for Commerce Jam Kamal Khan on Wednesday met Professor Dr Ismail Demir, Chairman of the Board of Kardemir (Karabuk Iron and Steel Works of Turkiye), on the sidelines of IDEAS 2024 exhibition and conference.

Their discussion focused on strengthening bilateral trade relations and developing a future plan of action for increasing business-to-business ties, according to a press release. They talked about matters of mutual interest, focusing on enhancing trade, investment and collaboration in the steel and manufacturing sectors.

Khan highlighted the historical, political and cultural ties between Pakistan and Turkiye. He praised Ankara's significant advancements in defence, aerospace and manufacturing sectors, noting its contribution to Pakistan's industrial and defence industries.

"Our partnership with Turkiye has fostered self-reliance in key industries and there is a vast potential to expand trade and investment," he remarked.

They emphasised the importance of sustainable practices in steel production and fostering innovation to meet global environmental standards.

Demir expressed Turkiye's commitment to strengthening economic ties with Pakistan. The two sides underscored the need for deeper collaboration in technology and infrastructure, with a shared vision to enhance trade opportunities and establish sustainable linkages between the steel industries of both nations. They agreed on pursuing initiatives to further expand economic cooperation for the benefit of both countries.