Pakistan is seeking fresh Turkish investment after Prime Minister Shehbaz Sharif and President Recep Tayyip Erdoğan agreed to deepen economic cooperation and reaffirmed their commitment to increase bilateral trade to $5 billion.
Pakistan sought to attract fresh Turkish investment on Saturday as Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdoğan agreed to deepen economic cooperation and reaffirmed their commitment to increase bilateral trade to $5 billion, signalling a renewed push to translate decades of close political ties into stronger commercial partnerships.
The commitment came during Sharif's official visit to Istanbul, where the two leaders held bilateral and delegation-level talks before addressing a joint press conference. Their discussions focused on expanding cooperation in trade, investment, defence, energy, transport, critical minerals and information technology, while preparations continue for the eighth session of the High-Level Strategic Cooperation Council later this year.
Speaking at the Pakistan–Türkiye Business Conference, Deputy Prime Minister and Foreign Minister Ishaq Dar invited Turkish companies to invest in Pakistan's energy, mining and minerals, power infrastructure, manufacturing, agriculture, logistics, tourism, information technology and defence sectors.
Dar said Pakistan's economic reform programme, led by Prime Minister Shehbaz Sharif, aims to strengthen macroeconomic stability, improve investor confidence and create a more business-friendly investment environment.
He also identified artificial intelligence, fintech, advanced manufacturing and research partnerships as emerging areas for bilateral cooperation, saying economic diplomacy had become central to relations between the two countries.
Pakistan and Türkiye currently trade well below their shared ambition of $5 billion annually. Both leaders said expanding investment would be key to achieving that goal.
"We encourage our investors to be more active in Pakistan," Erdoğan said, adding that the two countries were working to establish a Special Economic Zone for Turkish businesses in Karachi while negotiations continued to expand the scope of the Preferential Trade Agreement. He also described defence cooperation as one of the pillars of bilateral economic relations.
Sharif said the agreements reached during the visit "will not remain words on paper" but would translate into stronger trade, investment and strategic cooperation.
Ahead of the summit, Sharif met executives from leading Turkish companies and business organisations, including Çalık Holding, Albayrak Group, the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and telecommunications company Turkcell.
He invited Turkish firms to expand investment in energy, infrastructure, logistics, mining, information technology, telecommunications, manufacturing and agriculture.
Sharif also promoted Pakistan's improving macroeconomic outlook and highlighted the role of the Special Investment Facilitation Council (SIFC), which provides one-stop support for strategic investors.
In a separate meeting with Turkcell, he proposed establishing a Pakistan–Türkiye Digital Corridor and invited the company to explore cooperation in 5G deployment, digital infrastructure, software development and technology transfer.
Beyond economic cooperation, the two leaders reaffirmed support for each other's core national interests. Pakistan reiterated its support for Türkiye on the Turkish Republic of Northern Cyprus, while Ankara reaffirmed its longstanding support for Pakistan's position on Jammu and Kashmir.
The leaders also exchanged views on regional security. Erdoğan welcomed Pakistan's diplomatic efforts that contributed to the Islamabad Memorandum of Understanding, signed on 18 June, which helped end the U.S.-Iran conflict. He said Türkiye would continue supporting diplomatic initiatives aimed at reducing regional tensions.
The visit underscored Pakistan's broader effort to attract long-term foreign investment while strengthening one of its closest strategic partnerships, as both governments seek to convert decades of political alignment into deeper economic cooperation.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said on Sunday that the United States must recognise that the “rules of the game” i...
Russian President Vladimir Putin held more than three hours of talks with U.S. envoys Steve Witkoff and Jared Kushner in Moscow on efforts to end t...
Two Greek military pilots were killed on Saturday when an F-4 Phantom fighter jet crashed during an air show at Tanagra air base, north of Athens, ...
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
An eruption of Indonesia’s Mount Anak Krakatau has disrupted air travel, school activities and fishing operations, with hundreds of passengers stranded at Jakarta’s main airport on Sunday.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar with the matter said. They were met by Russian Presidential Envoy Kirill Dmitriev.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said on Sunday that the United States must recognise that the “rules of the game” in its war against Iran had changed “before it is too late”, a day after Washington struck several Iranian tankers in the Gulf.
Russian President Vladimir Putin held more than three hours of talks with U.S. envoys Steve Witkoff and Jared Kushner in Moscow on efforts to end the Ukraine war.
Israeli strikes killed four people, including two women, in southern Lebanon on Sunday, the Lebanese Health Ministry said, as Israel said it was retaliating for two Hezbollah drone attacks targeting its soldiers.
A unique architectural monument dating back to the 9th to 12th centuries has been discovered in the village of Gargara, in the Korez village commune in Dangara district in Tajikistan.
Japan and the UN Office on Drugs and Crime have launched a $9.4 million, two-year project across five Afghan provinces to help former poppy-growing families and expand drug prevention and treatment services.
For centuries, Lahore has been shaped by the people, cultures and empires that passed through it. Now, the Pakistani city is preparing to put that rich history before a wider regional audience.
Israel is ready to move Palestinians from Gaza as soon as the U.S. approves, the country’s Defence Minister Israel Katz has said. He told a conference hosted by Israeli newspaper Yedioth Ahronoth on Wednesday that there was “no real solution” for Gaza without migration.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment