Pakistan, Turkey set $5 billion trade target

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 investments in special economic zones.

Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan made the pledge at a joint press conference after their meeting here.

Turkey’s president said Middle East peace efforts could not succeed without regional support and that Israel must not be allowed to “dynamize” the U.S.-Iran peace deal.

Speaking alongside Prime Minister Shehbaz Sharif, Erdogan said: “No solution that does not rely on the will and contributions of countries in the region can be sustainable. »

“We are closely following the Israeli administration’s attempts to dynamite the (US-Iran) agreement…The current Israeli government, addicted to war, must not be allowed to once again drown our geography in the smell of gunpowder and blood,” Erdogan said.

Erdogan also said Turkey is keen to deepen cooperation with Pakistan in energy, transportation, essential minerals, information technology and defense, while pursuing a bilateral trade target of $5 billion.

The Prime Minister, in his speech, appreciated Turkey’s unprecedented progress in all fields under the leadership of President Erdogan and said Pakistan was proud of its friendship with Turkey.

He said that important meetings were held with Turkish businessmen within the framework of the B2B forum and in-depth and constructive talks were held with President Erdogan.

“We discussed increasing investments in special economic zones and we are determined to achieve the target of $5 billion in bilateral trade volume.” He mentioned the common position and cooperation of the two countries on global and regional disputes and said Pakistan supports Turkey’s position on the Cyprus issue.

He thanked Turkey for its unequivocal stance on the Kashmir issue. The Prime Minister, while talking about talks aimed at strengthening bilateral cooperation, said Pakistan’s success was Turkey’s success and Turkey’s progress was Pakistan’s progress. “We must give a new dimension to the partnership between Pakistan and Turkey.”

He thanked President Erdogan for his 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 Turkey have deep love and attachment towards each other.

“There is a sincere bond between the two,” he said, recalling that during Turkey’s war of independence, Muslims in the subcontinent fully supported him and mothers and sisters donated their jewelry.

“This unique relationship is based on shared faith, culture, history, mutual brotherhood and sacrifice.”

He said Pakistan-Turkey relations have a wonderful history. The two countries have always supported each other in all difficulties.

“Whether it is war or earthquake, natural disasters or floods, Turkey has always supported Pakistan. Turkey’s assistance to Muzaffargarh and other flood-affected areas is a part of history,” he said.

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

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

In his speech, Turkish President Tayyip Erdogan offered his condolences to the Pakistani citizens who lost their lives in the tragic bus accident in Balochistan. He said that during the talks, they exchanged views on regional and global issues, with special emphasis on bilateral relations.

He said the entire world had heaved a sigh of relief due to the calm achieved through the Islamabad Memorandum of Understanding.

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

He said Turkey supports and will continue to support every measure aimed at reducing tensions in the region and resolving issues through diplomatic means. “We are closely following the provocations of the Israeli administration aimed at sabotaging the agreement. The Zionist regime had linked its survival to the continuation of conflicts in the region.”

He said Israeli forces also continued their illegal and inhumane attacks against the people of Gaza. He said Turkey seeks to create an environment in which all people in the region, regardless of their religion, 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 brotherly countries, first and foremost Pakistan, to strengthen peace, stability and prosperity in the region,” he stressed.

He said: “Our solidarity with Pakistan continues in all areas. We discussed steps we can take to further strengthen our trade and investment relations in a manner that befits the spirit of solidarity.”

“We reaffirmed the objective of increasing the volume of bilateral trade to the previously set level of five billion US dollars. The respective commerce ministries were working on the special economic zone for businessmen in Karachi. Similarly, negotiations were underway to expand the scope of our preferential trade agreement,” he revealed.

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 become more engaged in their activities in Pakistan. Our cooperation in defense industries is one of the cornerstones of our economic relations and it continues to strengthen with each passing day. We are implementing these projects step by step,” he added.

He said Turkey is keen to deepen cooperation with Pakistan in the fields of energy, transportation, critical minerals and information technology and we reaffirmed our common commitment in this direction.

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

Bayraktar said Turkish companies were keen to contribute to projects in Pakistan and share Turkish expertise in the energy sector, as Pakistan undergoes a transformation in its power 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-added sectors, particularly information and communication technology.

The Prime Minister expressed these views during a meeting with Turkcell Managing Director Ali Taha Koc, who visited him in Istanbul, Turkey.

During the meeting, the Prime Minister highlighted the importance of deepening cooperation between Pakistan and Turkey in the digital and technology sectors.

He shared the government’s vision to establish a Pakistan-Turkey Digital Corridor to strengthen regional digital connectivity, facilitate secure cross-border data flows and advance digital infrastructure integration, the media wing of the Prime Minister’s Office said in a press release.

Highlighting the rapidly evolving digital landscape of Pakistan, the Prime Minister invited Turkcell to explore long-term collaboration with Pakistani institutions in areas such as 5G deployment, network optimization, spectrum management, digital infrastructure and technology transfer.

He also encouraged the company to consider partnerships in 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 forward-thinking digital transformation agenda of the Government of Pakistan and expressed Turkcell’s keen interest in exploring collaboration opportunities in telecommunications, digital infrastructure and emerging technologies.

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