Pakistan,Turkiye commit to strengthen cooperation, target $5bn trade volume

Both nations aim to deepen ties across multiple sectors, with strong focus on defense, economy, and regional stability

ISLAMABAD: Pakistan and Turkiye have reaffirmed their commitment to strengthening bilateral cooperation in trade, defense, energy, education, and investment, with a shared goal of achieving a $5 billion trade volume. 

The announcement came during Turkish President Recep Tayyip Erdogan’s official visit to Pakistan, where he met with Prime Minister Shehbaz Sharif and participated in the 7th session of the High-Level Strategic Cooperation Council (HLSCC).

Both leaders oversaw the signing of 24 Memorandums of Understanding (MoUs) and agreements, further institutionalizing their strategic partnership. The agreements covered key areas such as trade, industrial cooperation, defense collaboration, agriculture, science and technology, and media relations.

In the economic sector, Finance Minister Muhammad Aurangzeb and Turkish Trade Minister Omer Bolat formalized an MoU between the Export Credit Bank of Turkiye and Pakistan’s Export-Import Bank. 

Additionally, Commerce Minister Jam Kamal Khan and his Turkish counterpart signed agreements on trade digitalization and industrial property cooperation.

Defense ties also saw significant advancements with agreements on military personnel exchanges, air force electronic warfare cooperation, and defense industry development. 

Defense Ministers Khawaja Muhammad Asif and Yasar Guler signed protocols on military health training, while Turkish Aerospace Industries (TAI) and Pakistan’s Naval Research and Development Institute (NRDI) exchanged an MoU to enhance naval capabilities.

Science and technology cooperation was reinforced with agreements on halal trade, legal metrology infrastructure, and advancements in water management. The energy sector witnessed multiple agreements focusing on hydrocarbons, energy transition, and mining collaboration. 

Additionally, MoUs were signed in the pharmaceutical, healthcare, textile, and financial sectors, including technical cooperation between the central banks of both countries.

Prime Minister Shehbaz Sharif praised Turkiye’s longstanding support for Pakistan on key geopolitical issues, including Kashmir, and lauded President Erdogan’s leadership on matters concerning Gaza and Palestine. He also expressed gratitude for Turkish assistance during Pakistan’s natural disasters and reaffirmed Pakistan’s commitment to combating terrorism.

President Erdogan emphasized the importance of expanding economic ties, urging Turkish investors to explore opportunities in Pakistan’s special economic zones. He commended Pakistan’s sacrifices in the fight against terrorism and its role in regional stability, reiterating Turkiye’s unwavering support for Pakistan and the people of Kashmir.

Both leaders concluded their discussions by highlighting the deep historical ties between the two nations and reaffirming their commitment to a strong, strategic partnership focused on mutual economic growth and regional security.

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