Pakistan, Turkiye set $5b trade target

Shehbaz, Erdogan discuss regional, global issues Turkish president says Israel must not scupper deal PM vows fri

ISTANBUL:

Pakistan and Turkey on Saturday expressed their commitment to increase bilateral trade volume to $5 billion and discussed ways to increase bilateral trade and investment in special economic zones.

Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan made the commitment while addressing a joint news press conference after their meeting here.

The Turkish president said that Middle East peace efforts could not succeed without regional backing and that Israel must not be allowed to "dynamite" the US-Iran peace deal.

Speaking alongside Prime Minister Shehbaz Sharif, Erdogan said: "No solution that does not take strength from the will and contributions of regional countries can be lasting."

"We are closely following the Israeli administration's attempts to dynamite the (U.S.-Iran) deal... The current war-addicted Israeli government must not be allowed to drown our geography in the smell of gunpowder and blood again," Erdogan said.

Erdogan also said Turkey aimed to deepen cooperation with Pakistan in energy, transport, critical minerals, information technology and defence, while pursuing a bilateral trade target of $5 billion.

The prime minister, in his remarks, appreciated the unprecedented progress of Turkiye in all fields under the leadership of President Erdogan and said that Pakistan was proud of its friendship with Turkiye.

He said important meetings were held with Turkish businessmen in the B2B forum and comprehensive and constructive talks were held with President Erdogan.

"We discussed increasing investment in special economic zones and we are determined to achieve the target of 5 billion dollars in bilateral trade volume." He mentioned the common stance and cooperation of the two countries on global and regional disputes and said that Pakistan supported Turkiye's position on the Cyprus issue.

He thanked Turkiye for its unequivocal stance on the Kashmir issue. The Prime Minister, while mentioning the talks aimed at enhancing bilateral cooperation, said that Pakistan's success was Turkiye's success and Turkiye's progress was Pakistan's progress. "We have to give a new dimension to the partnership between Pakistan and Turkiye."

He thanked President Erdogan for the wonderful welcome and warm hospitality. He described Istanbul as a beautiful city and a beautiful blend of East and West and said that the people of Pakistan and Turkiye have deep love and attachment to each other.

"There is a heartfelt bond between the two," he said and reminded that in Turkiye's war of independence, the Muslims of the subcontinent fully supported and mothers and sisters donated their jewellery.

"This unique relationship is based on shared faith, culture, history, mutual brotherhood and sacrifices."

He said that Pakistan-Turkiye relations have a wonderful history. Both countries always supported each other in every difficulty.

"Be it war or earthquake, natural disasters or floods, Turkiye has always supported Pakistan. Turkiye's help in Muzaffargarh and other flood-affected areas is part of history," he mentioned.

He said Turkish President Recep Tayyip Erdogan himself came to flood-hit Muzaffargarh along with his wife and the Turkish President's wife even donated her necklace for the victims and her act won the hearts of the people of Pakistan.

The Prime Minister also thanked Turkiye for establishing modern hospitals and schools in the areas affected by natural disasters and for its cooperation in social and economic development. The Prime Minister said, "We are proud that Pakistan and Turkiye are one soul, two bodies. The thoughts of Maulana Jalaluddin Rumi and Allama Iqbal guide us."

In his remarks, President of Turkiye Tayyip Erdogan offered his condolences to the Pakistani citizens who lost their lives in the tragic bus accident in Balochistan. He said during talks they exchanged views on regional and global issues with a particular focus on the bilateral relations.

He said the entire world had a sigh of relief thanks to the calm achieved through the Islamabad memorandum of understanding.

"Recently, reports in the international media had highlighted the challenges involved in the negotiation process," he said and congratulated Prime Minister Shehbaz Sharif and people of Pakistan for playing a major role in achieving this outcome.

He said Turkiye supported and would continue to support every step to reduce tensions in the region and resolve issues through diplomatic means. "We are closely monitoring the Israeli administration's provocations aimed at sabotaging the agreement. The Zionist regime had tied its survival to the continuation of the conflicts in the region."

He said Israeli forces were also continuing their unlawful and inhumane attacks on the people of Gaza. He said Turkiye sought the establishment of an environment in which all the people of the region, regardless of their faith, can live in peace and security.

"We are also making every effort to create such an environment. We will continue to work in solidarity with the brotherly countries, foremost among them Pakistan, to strengthen peace, stability and prosperity in the region," he stressed.

He said, "Our solidarity with Pakistan continues in every field. We discussed the steps we can take to further enhance our trade and investment relations in a manner befitting the spirit of solidarity."

"We have reaffirmed the target of increasing the bilateral trade volume to the previously set level of five billion US dollars. The respective ministries of trade were working on the special economic zone for the businesspeople in Karachi. Similarly, negotiations were ongoing for expanding the scope of our preferential trade agreement," he disclosed.

He said he believed that the business forum attended by Prime Minister Shebaz Sharif would also contribute to our relations in terms of investment and trade.

"We too encourage our investors to engage in more activities in Pakistan. Our cooperation in the defence industries is one of the cornerstones of our economic relations and it continues to grow stronger with each passing day. We are implementing these projects step by step," he added.

He said Turkiye wanted to deepen cooperation with Pakistan in the field of energy, transportation, critical minerals and information technology and we reaffirmed the shared commitment to this path."

Earlier on Saturday, officials from both countries attended a ?business forum in Istanbul. Turkish Energy Minister Alparslan

Bayraktar said Turkish firms wanted to contribute to projects in Pakistan and share Turkey's energy-sector expertise as Pakistan undergoes a transformation of its electricity sector.

 

Investment

 

Prime Minister Shehbaz Sharif on Saturday reaffirmed the Government's commitment to maintaining a transparent, predictable and investment-friendly business environment, supported by the Special Investment Facilitation Council (SIFC), to facilitate strategic investments in high-value sectors, particularly information and communication technologies.

The prime minister expressed these views during a meeting with Chief Executive Officer of Turkcell, Ali Taha Koc, who called on him in Istanbul, Turkiye.

During the meeting, the prime minister underscored the importance of deepening Pakistan–Turkiye cooperation in the digital and technology sectors.

He shared the government's vision of establishing a Pakistan–Turkiye Digital Corridor to strengthen regional digital connectivity, facilitate secure cross-border data flows, and advance the integration of digital infrastructure, PM Office Media Wing said in a press release.

Highlighting Pakistan's rapidly evolving digital landscape, the prime minister invited Turkcell to explore long-term collaboration with Pakistani institutions in areas including 5G deployment, network optimization, spectrum management, digital infrastructure and technology transfer.

He also encouraged the company to consider partnerships in the local manufacturing of telecommunications equipment, software development, digital skills development and capacity building, noting that such cooperation would strengthen Pakistan's technology ecosystem while generating opportunities for innovation, employment and sustainable growth.

Ali Taha Koc appreciated the Government of Pakistan's forward-looking digital transformation agenda and expressed Turkcell's keen interest in exploring opportunities for collaboration in telecommunications, digital infrastructure and emerging technologies.

He reaffirmed the company's commitment to working closely with the relevant Pakistani stakeholders to develop mutually beneficial partnerships that contribute to the shared economic and technological aspirations of Pakistan and Turkiye.