Pakistan, Turkiye vow stronger economic ties, reaffirm resolve to enhance bilateral trade to $5 billion

Pakistan, Turkiye vow stronger economic ties, reaffirm resolve to enhance bilateral trade to $5 billion

Istanbul (Web Desk): Pakistan and Turkiye reaffirmed their long-standing partnership on Saturday, pledging unwavering support for one another in every circumstance while renewing their commitment to raise bilateral trade to $5 billion.

The commitment was announced by Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan during a joint press conference in Istanbul after extensive discussions on bilateral cooperation, as well as regional and international developments.

Opening the briefing, President Erdogan welcomed Prime Minister Shehbaz and his delegation, saying their talks had covered a broad range of issues, including political ties, economic cooperation and matters of regional and global importance.

He said the relationship between the two countries continued to grow stronger and stressed that Pakistan and Turkiye had always stood together through difficult times and would continue to do so.

The Turkish president also highlighted the importance of the memorandum of understanding recently signed in Islamabad between the United States (US) and Iran, describing it as a positive development for international peace. He praised Pakistan's contributions towards promoting stability, prosperity and economic progress.

President Erdogan said both sides had also focused on expanding trade, attracting greater investment and strengthening economic collaboration to achieve their shared commercial goals.

Expressing gratitude for the warm welcome and generous hospitality, Prime Minister Shehbaz said the friendship between Pakistan and Turkiye was rooted in history and built on mutual trust and brotherhood.

He noted that Ankara had consistently extended support to Islamabad during wars and natural disasters alike.

Referring to his meetings with Turkish entrepreneurs at the Pakistan-Turkiye Business Forum, the prime minister said both governments remained fully committed to increasing bilateral trade to the agreed target of $5 billion.

Earlier, while addressing the Pakistan-Turkiye Business-to-Business Conference in Istanbul, PM Shehbaz described Turkiye as one of Pakistan's closest and most dependable partners.

He said the relationship dated back to the Khilafat Movement, recalling how the Ali Brothers and Muslims of the subcontinent had backed Turkiye during its struggle for independence.

The prime minister said Pakistan was able to undertake a mediatory role in the US-Iran conflict with the sincere support of President Erdogan.

He acknowledged that the diplomatic effort had been extremely challenging but welcomed the ceasefire that had since been achieved, saying every effort should now be made to preserve and build upon the opportunity for peace.

PM Shehbaz also underscored the importance of drawing on Turkish experience in key reform areas, particularly the privatisation of electricity distribution companies and the improvement of Pakistan's power transmission network.

Recalling Pakistan's military confrontation with India in May last year, the prime minister thanked Turkiye, Saudi Arabia and other friendly nations for standing with Pakistan during that period.

During the joint media interaction, President Erdogan said durable peace in the Middle East could only be achieved with the active participation and support of regional countries.

He also warned that Israel should not be allowed to undermine the US-Iran peace agreement, saying Ankara was closely monitoring what he described as attempts by the Israeli administration to derail the deal.

The Turkiye president further cautioned that the current Israeli government must not be permitted to drag the region back into conflict and bloodshed.

President Erdogan said that Turkiye was eager to broaden cooperation with Pakistan across sectors including energy, transport, critical minerals, information technology and defence, while reaffirming the mutual goal of increasing annual bilateral trade to $5 billion.