Pakistan, Turkiye reaffirm $5bn bilateral trade target

Pakistan and Turkiye reaffirmed their commitment to expanding economic cooperation, agreeing to fully leverage the potential of their strategic partnership to achieve a bilateral trade target of $5 billion while further strengthening the longstanding brotherly ties between the two countries.

The development came as Prime Minister Shehbaz Sharif met Turkish President Recep Tayyip Erdoğan in Istanbul on Saturday.

“Our discussions covered the full spectrum of the Pakistan–Turkiye Strategic Partnership, with particular focus on trade, investment, defence cooperation, energy, connectivity, technology, regional peace, and people-to-people exchanges,” PM Shehbaz wrote in a post on X.

“We reaffirmed our shared belief that dialogue, diplomacy, and mutual respect remain the only sustainable path to resolving disputes and preserving international peace and security. I thanked President Erdoğan for his warm hospitality.

“We also agreed to fully leverage the immense potential of our partnership to achieve our mutually agreed target of $5 billion in bilateral trade and to take the enduring bonds of brotherhood between Pakistan and Türkiye to even greater heights,” he said.

“Earlier today, I attended the Pakistan–Türkiye Business Conference, where I met distinguished representatives of Türkiye’s vibrant business community. Their optimism, innovation, and entrepreneurial spirit reinforced my conviction that the economic partnership between Pakistan and Türkiye is entering a new and exciting chapter under President Erdoğan’s visionary leadership,” PM shared.

According to a statement issued later from the Prime Minister’s House, PM Shehbaz, who was on an official visit to Istanbul, Turkiye, held a bilateral meeting with Turkiye President Erdogan at Vahdettin Palace in Istanbul.

The meeting was attended by Deputy Prime Minister & Foreign Minister Senator Mohammad Ishaq Dar along with other ministers and senior officials from both sides.

“During their warm and cordial meeting, the two leaders reaffirmed the historic and brotherly ties binding Pakistan and Turkiye, and expressed their shared satisfaction at the positive trajectory of bilateral relations.

They engaged in comprehensive discussions on the entire range of issues and expressed their common resolve to further strengthen bilateral cooperation between Pakistan and Turkiye, with special emphasis on trade and investment, energy cooperation, off shore and onshore petroleum exploration, mines and minerals, and information technology.

“In this regard, both leaders reaffirmed their desire to realise the mutually agreed trade target of $5 billion,” the PMO said.

The two leaders also exchanged views on important regional and global developments. President Erdogan appreciated Pakistan’s mediation efforts between Iran and the US that resulted in the signing of the historic Islamabad MoU, it added.

They also appreciated the close diplomatic coordination between the two countries during the peace process and underscored the importance of sustained efforts to ensure durable and lasting peace in the region.

While looking forward to the 8th HLSCC meeting that would be held in Turkiye later this year, the prime minister extended an invitation to President Erdogan to undertake a visit to Pakistan.