Pak, Turkiye target $5bn bilateral trade

Sharif says Pakistan’s progress is linked to Turkiye’s success as both countries expand cooperation in defence, energy, trade and investment.

Istanbul: Pakistan PM Shehbaz Sharif on Saturday reaffirmed Islamabad’s commitment to strengthening ties with Turkiye, saying the two countries’ progress is closely interconnected. At a joint press conference with Turkish Pre­sident Recep Tayyip Erdogan, Sharif said, “Turkiye’s success is Pakistan’s success, Pakistan’s progress is Turkiye’s progress.”

The leaders agreed to deepen cooperation in trade, defence, energy, transportation, critical minerals and information technology, while reiterating their goal of increasing bilateral trade to $5 billion. Bilateral trade stood at about $1.3 billion in 2024, according to Turkiye’s Ministry of Foreign Affairs.

Erdogan described defence cooperation as a key pillar of economic ties and said new joint projects were under way. He also urged Turkish investors to expand business activities in Pakistan and said work was progressing on a proposed special economic zone in Karachi and on expanding the financial trade agreement.

Sharif said the Pakistan-Turkiye Business Conference reflected growing economic engagement. The leaders also welcomed rising trade, investment and industrial cooperation. Turkish investments in Pakistan total about $2 billion, while Turkish firms have completed 72 projects worth around $3.5 billion. —PTI