ISTANBUL – Pakistan and Turkiye renewed ambition to raise bilateral trade to $5 billion but also signaled deeper cooperation in investment, defence, and regional peace efforts.
- The announcement came after high-level talks between President Erdoğan and Prime Minister Shehbaz Sharif at Istanbul’s Vahdettin Palace, where both leaders reviewed bilateral relations, regional developments, and avenues for expanding economic and strategic cooperation.
- Addressing a joint presser, President Erdoğan said the two sides had agreed to accelerate efforts to deepen trade and investment ties, describing Pakistan as a close partner with whom Türkiye enjoys enduring solidarity across multiple sectors. “We have reaffirmed our target of increasing bilateral trade to $5 billion,” Erdoğan said, adding that both governments were actively working to translate political goodwill into stronger economic cooperation.
- Erdogan revealed that officials from both countries are moving forward with plans to establish a Special Economic Zone (SEZ) in Karachi for Turkish and Pakistani businesses. He also disclosed that negotiations were continuing to broaden the scope of the existing Preferential Trade Agreement (PTA), a move expected to further boost commercial exchanges.
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- He encouraged Turkish investors to expand their footprint in Pakistan, saying greater private-sector collaboration would strengthen economic relations.