Türkiye, Pakistan take steps to deepen bilateral economic and trade relations

(MENAFN) Turkey and Pakistan took significant steps to deepen bilateral economic and trade relations on Thursday, with an emphasis on tapping into opportunities in various key sectors. The agreement was formalized during a meeting between Turkish Trade Minister Ömer Bolat and Pakistani Finance Minister Muhammad Aurangzeb in Islamabad. Bolat, accompanied by a business delegation, stressed their mutual commitment to expanding cooperation, highlighting sectors such as services, health, education, medicine and fashion as areas with significant growth potential.

During the discussion, Aurangzeb highlighted the “strong and long-standing” relations between Turkey and Pakistan, noting that both countries have significant opportunities for further development. He acknowledged the historical and cultural links that underpin their partnership, which are now being leveraged to strengthen economic ties. Bolat supported this view, pointing to the joint commitment of Turkish President Recep Tayyip Erdogan and Pakistani Prime Minister Shehbaz Sharif to strengthen bilateral relations, particularly through increased trade and investment.

Bolat outlined specific measures to encourage Turkish investors to invest in Pakistan, proposing strategies to improve investor confidence and suggesting improved air links between the two nations to facilitate greater economic exchange. In addition, Aurangzeb provided an update on the recent staff-level agreement with the International Monetary Fund (IMF) that aims to ensure long-term economic stability and includes ongoing reforms in taxation, the energy sector and state-owned enterprises.

Both ministers reiterated their commitment to strengthening economic ties and increasing trade volumes. The meeting reflected the mutual desire to build on existing cooperation and explore new avenues of cooperation, strengthening the strategic partnership between Turkey and Pakistan.

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