Pakistan and Turkiye reaffirm support for each other, target $5bn in trade

ISTANBUL: Pakistan and Turkiye have reaffirmed their commitment to support each other and to raise bilateral trade to $5 billion following talks between Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan in Istanbul.

The two leaders spoke at a joint press briefing after discussions that covered bilateral relations as well as regional and global matters. President Erdogan said he welcomed Prime Minister Shehbaz and his delegation and expressed satisfaction with the pace of ties between the two countries.

Addressing the media, the Turkish president said Pakistan and Turkiye remained closely aligned in their relationship.

"We always stand by each other."

Erdogan said during the briefing.

The talks also focused on expanding trade, investment and broader economic cooperation. He emphasised the importance of the Islamabad memorandum of understanding, described as recently signed between the United States and Iran, and said it was important for global peace. He also praised Pakistan’s efforts for peace, prosperity and economic development.

Prime Minister Shehbaz thanked President Erdogan for the welcome and hospitality, and said Pakistan and Turkiye were bound by deep and lasting ties. He said Turkiye had consistently supported Pakistan during wars and natural disasters.

The prime minister also referred to his engagements with Turkish business leaders at a business forum in Istanbul, saying both countries were committed to meeting the $5 billion bilateral trade objective. The remarks came during his official visit to Turkiye.

Earlier, Prime Minister Shehbaz held meetings in Istanbul with senior executives from leading Turkish business groups and industry organisations. During those meetings, he reiterated Pakistan’s intention to deepen economic cooperation and attract more Turkish investment in key sectors.

He invited Turkish companies to increase their presence in Pakistan in energy, mining and minerals, infrastructure, maritime and logistics, information technology, telecommunications, manufacturing, agriculture and privatisation. He also said the Special Investment Facilitation Council continued to provide one-window facilitation and institutional support for strategic investors.

Turkish business leaders welcomed the Pakistani government’s economic reforms, improving investment climate and investor-friendly policies. They also expressed confidence in Pakistan’s economic outlook and interest in broadening long-term partnerships in strategic sectors.