Türkiye, Pakistan discuss potential for ‘further’ bilateral economic and trade development

Turkey and Pakistan agreed on Thursday to explore the potential for further developing their bilateral economy and trade, focusing on the services, health, education, medicine and fashion sectors, a government statement said.

The agreement was reached during a meeting between Turkish Trade Minister Omer Bolat and Pakistani Finance Minister Muhammad Aurangzeb in the capital, Islamabad.

Bolat and a business delegation are currently in Pakistan.

Aurangzeb emphasised the “strong and long-standing” relations between the two countries, which have the potential to develop.

Bolat, for his part, stressed the joint commitment of Turkish President Recep Tayyip Erdogan and Pakistani Prime Minister Shehbaz Sharif to strengthen bilateral ties, with particular emphasis on increasing trade and investment.

He identified key sectors for potential investment, including services, healthcare, education, medicine and fashion.

Bolat also proposed measures to make it easier for Turkish companies to invest and boost investor confidence, and recommended increasing air links between Pakistan and Turkey to support greater economic exchange.

Recognising the importance of historical and cultural ties between Pakistan and Turkey, Aurangzeb informed Bolat about the recent staff-level agreement with the IMF aimed at ensuring “long-term stability and outlining ongoing reforms in taxation, the energy sector and state-owned enterprises”.

“Both ministers reaffirmed their commitment to strengthening bilateral relations and increasing the volume of trade,” the statement said.

Aurangzeb assured Bolat of Pakistan’s commitment to supporting Turkish investors by streamlining regulations that make it easier to do business