$5bn trade volume target: Robust strategy designed to fortify economic ties: Turkiye diplomat

ISLAMABAD: Pakistan and Turkiye have chalked out a robust plan to translate cordial brotherly relations to solid economic ties by meeting the target of $US 5 billion trade volume agreed upon during the recent visit of Turkish President Recep Tayyip Erdogan.

Taking to Business Recorder, a Turkiye diplomat here shared the details of a comprehensive plan to boost Pakistani exports to Turkiye. Senior diplomat on the condition of anonymity, reaffirmed the strong and growing relationship between Turkey and Pakistan, highlighting robust defence cooperation and a targeted trade volume of $5 billion.

Talking about economic collaboration, the Turkiye diplomat revealed plans to boost exports of Pakistani sports and surgical goods to Turkey. “Turkiye embassy senior officials recently visited Sialkot to initiate exports of these goods, further strengthening our trade relations,” he stated.

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Emphasising historical and cultural bonds, he noted that the people of both brotherly nations share deep-rooted similarities in traditions, media, textbooks, and history. “Pakistan has always stood by Turkey, whether during the Khilafat Movement or the Cyprus issue. Our brotherly relations remain unwavering and undeterred,” he added.

The diplomat talked about Pakistan’s significant student exchange programme with Turkey, stating that around 1.5 million Pakistani students go to Turkey for higher studies annually. “There are immense opportunities for collaboration, and we are working on reactivating institutions to ensure mutual progress.” It is a matter of immense pleasure to know that Quaid-i-Azam University (QAU) in Islamabad has been included in world’s 500 top ranking institutions. We would also like to consider sending our students to QAU for studies, the Turkish diplomat remarked.

On security cooperation, he reiterated both countries’ commitment to combating terrorism together. “We stand united against any threat or menace of terrorism,” he affirmed.

In a significant move, Pakistan and Turkey have also agreed to establish a Shura of Fraternity, a consultative mechanism to discuss and coordinate on every important bilateral and global issues.

He urged the need for greater connectivity amid evolving geopolitical and geo-strategic challenges. “Connectivity is key to solving problems, and we believe the China-Pakistan Economic Corridor (CPEC) can be linked with Turkey for broader regional integration.”

He also highlighted that Pakistan and Turkey have a Free Trade Agreement (FTA) but currently with a limited range of goods. “Both sides have now agreed to expand the FTA to cover a broader spectrum of goods,” he revealed.

Pakistan and Turkey plan to hold counter-exhibitions in each other’s countries, allowing businesses to explore market potential. “Pakistani businessmen should actively explore opportunities in Turkey, particularly in surgical exports,” the diplomat suggested, acknowledging some bureaucratic hurdles that need to be addressed.

He further revealed that restarting the Islamabad-Istanbul freight train is on the agenda to enhance trade connectivity between the two countries.

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