Turkish president backs stronger trade, investment and defence cooperation during talks with PM Shehbaz
Turkish President Recep Tayyip Erdogan and Prime Minister Shehbaz Sharif address a joint press conference after their meeting in Istanbul. SCREENGRAB
Pakistan and Turkiye on Saturday agreed to further strengthen their economic relations and reaffirmed their commitment to increasing bilateral trade to the previously agreed-upon target of $5 billion.
Addressing a joint press conference with Prime Minister Shehbaz Sharif in Istanbul, Turkish President Recep Tayyip Erdogan said the two leaders discussed measures to enhance trade and investment relations in a manner befitting the spirit of solidarity between the two countries.
“We have reaffirmed our target of increasing our trade volume to the previously settled level of $5 billion,” President Erdogan said.
He added that the relevant ministries of both countries were working on the planned special economic zone for businesspeople in Karachi, while negotiations were continuing to expand the financial trade agreement.
Encouraging investors to increase their business activities in Pakistan, President Erdogan described defence cooperation as the cornerstone of economic relations between the two countries, saying it continued to grow stronger with new projects.
The Turkish president also praised Pakistan’s peace efforts, saying they had contributed to ending the US-Iran war and led to the signing of the Islamabad Memorandum of Understanding.
“The entire world has had a sigh of relief thanks to the calm achieved through the Islamabad Memorandum of Understanding,” he said, while congratulating PM Shehbaz for playing “a major role” in the mediation process and achieving the outcome.
He said Turkiye had supported and continued to support efforts to reduce tensions in the region and resolve issues through diplomatic means.
Commenting on the regional situation, President Erdogan criticised Israel’s actions in Lebanon and said Turkiye was closely monitoring what he described as provocations by the Israeli administration aimed at sabotaging the Memorandum of Understanding.
“The Zionist massacre team has tied his political survival to the continuation of conflicts in the region and the Israeli occupying forces are also continuing their unlawful and inhuman attacks on the people of Gaza,” he said.
He added that Turkiye sought to establish an environment in which all peoples of the region, regardless of their faith, could live in peace and security, saying the country was making every effort to help create it.
Addressing the joint press conference, PM Shehbaz said the two countries had consistently stood by each other during times of hardship.
He said Turkiye had always supported Pakistan during difficult times, while Pakistan had also extended its support to Turkiye during challenging moments.
“That spirit of solidarity was reciprocated with remarkable generosity whenever Pakistan faced adversity. Whether during war, devastating earthquakes or catastrophic floods, the people of Turkiye stood firmly by Pakistan,” he said.
PM Shehbaz praised President Erdogan’s leadership, saying Turkiye had undergone a remarkable economic, technological and strategic transformation during the past two decades.
“He has strengthened Turkiye’s national prestige and confidence, preserved its independent voice and elevated its standing as one of the most influential countries in regional and global affairs,” he said.
The prime minister added that Pakistan greatly valued President Erdogan’s friendship, wisdom and his consistent guidance and support.
Referring to the Pakistan-Türkiye Business Conference, Prime Minister Shehbaz said the event, which reflected the optimism and entrepreneurship of Türkiye’s vibrant business community, had reinforced his belief that economic relations between the two countries were entering a new phase.
“The conference, which had the optimism and entrepreneurship of the Turkiye vibrant business community, reaffirmed my conviction that the economic partnership between Pakistan and Turkiye is entering a new phase and opening a new chapter under President Erdogan’s able leadership,” he said.
The prime minister also highlighted his discussions with President Erdogan during their meeting earlier in the day, saying both leaders expressed satisfaction over the growing momentum in bilateral trade, investment and industrial cooperation.
He said the two sides also reviewed concrete steps to unlock the full potential of the economic partnership between Pakistan and Turkiye.
“The tremendous reservoir of goodwill between our two countries provides us with a unique opportunity to achieve our mutually agreed target of $5 billion in bilateral trade,” the prime minister said.
He said the two countries had always stood by each other on issues of fundamental national importance and reaffirmed Pakistan’s support for Turkiye on the issue of the Turkish Republic of Northern Cyprus, just as it had consistently done over the past several decades.
The prime minister also thanked Turkiye for its principled and unwavering support for the people of Indian-occupied Jammu and Kashmir and their legitimate right to self-determination.
He said Pakistan and Turkiye had agreed that dialogue, diplomacy and mutual respect remained the only sustainable path to resolving disputes and preserving peace and security. He also hailed Türkiye’s strong and steadfast support for Pakistan’s peace efforts in the region that led to the signing of the Islamabad Memorandum of Understanding.
Calling the future of Pakistan-Türkiye relations “infinitely promising and bright”, the prime minister said the decisions taken during the visit would translate into greater trade, stronger investment, deeper strategic cooperation and a better future for the people of both countries.
Assuring President Recep Tayyip Erdogan of Pakistan’s unwavering commitment to further strengthening the bilateral partnership, he said: “Türkiye’s success is Pakistan’s success, Pakistan’s progress is Türkiye’s progress.”
Shehbaz, Erdogan vow stronger Pakistan-Turkiye ties
Earlier, Pakistan and Turkiye agreed to further strengthen bilateral cooperation across multiple sectors.
The understanding was reached during a bilateral meeting between PM Shehbaz and President Erdogan at the Vahdettin Palace in Istanbul, according to a statement issued by the Prime Minister’s Office.
The meeting was attended by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, along with ministers and senior officials from both sides.
According to the statement, the two leaders reaffirmed the historic and brotherly ties between Pakistan and Turkiye and expressed satisfaction over the positive trajectory of bilateral relations.
They held comprehensive discussions on the full spectrum of bilateral ties and agreed to further strengthen cooperation, with particular emphasis on trade and investment, energy, offshore and onshore petroleum exploration, mines and minerals, and information technology.
In this regard, both leaders reaffirmed their desire to realise the mutually agreed trade target of $5bn.
The two leaders also exchanged views on key regional and global developments.
It further added that during the meeting, President Erdogan appreciated Pakistan’s mediation efforts between Iran and the United States that resulted in the signing of the Islamabad Memorandum of Understanding. Prime Minister Shehbaz thanked the Turkish president for his strong support for Pakistan’s peace efforts.
The two leaders also appreciated the close diplomatic coordination between the two countries during the peace process and underscored the importance of sustained efforts to ensure durable and lasting peace in the region.
The statement said the two leaders reaffirmed Pakistan and Turkiye’s steadfast support for each other’s core issues.
Looking ahead to the eighth meeting of the High-Level Strategic Cooperation Council, scheduled to be held in Turkiye later this year, the premier extended a warm invitation to President Erdogan to visit Pakistan.
Dar invites Turkish investors to explore Pakistan opportunities
Separately, DPM Dar met senior executives of Koç Holding on the sidelines of the Pakistan–Türkiye Business Conference, and invited Turkish investors to explore opportunities in Pakistan’s economy, according to a statement issued by the Foreign Office.
The meeting was attended by senior executives of Koç Holding, including Yağız Eyüboğlu, President Energy Group; Polat Şen, President Durable Goods Group; Can Dinçer, CEO of Arçelik; Melih Poyraz, CEO of Aygaz; and Ramazan Yön, CEO of Demir Export.
According to the Foreign Office, discussions focused on enhancing cooperation in the fields of energy, manufacturing, mining and industrial investment, as well as exploring new avenues to further deepen Pakistan–Türkiye economic partnership.
The Deputy Prime Minister apprised the Turkish business delegation of Pakistan’s investment-friendly environment and encouraged them to explore and benefit from opportunities in the country through solo as well as joint ventures.
“Pakistan offers a vibrant and welcoming environment for foreign investment, and we encourage leading Turkish business groups to become part of our growing economy,” he said.
He further stated that closer business-to-business engagement would help translate the longstanding brotherly relations between Pakistan and Turkiye into stronger economic cooperation.
Koç Holding, one of Türkiye’s leading business groups with an estimated net worth of $25 billion, expressed keen interest in investing in Pakistan, according to the statement.
“The interest shown by leading Turkish business groups reflects the confidence in Pakistan’s economic potential and the strength of our bilateral relations,” the Foreign Office said.
The meeting was attended by Pakistan’s federal ministers for maritime affairs, power, petroleum, privatisation, and information technology and telecommunications, along with the Ambassador of Pakistan to Türkiye.
Earlier, addressing the Pakistan–Türkiye Business Forum in Istanbul, Dar underscored the need to transform longstanding fraternal ties into a strong trade and investment partnership.
He highlighted business and investment opportunities in Pakistan, noting its unique geographical position, which, he said, enables the country to serve as a bridge and connectivity corridor between the Middle East, Central Asia, South Asia and East Asia.
The deputy prime minister invited Turkish businesses to benefit from Pakistan’s investment-friendly environment and to explore joint business ventures in the country.
PM Shehbaz invites Turkish firms to expand investment in Pakistan during Istanbul meetings
Earlier, PM Shehbaz held a series of meetings with senior executives of Turkiye’s leading business groups and industry organisations in Istanbul, reaffirming Pakistan’s commitment to strengthening economic cooperation and attracting greater Turkish investment across key sectors of the economy, according to the Prime Minister’s Office (PMO).
The premier arrived in Istanbul on Friday on a bilateral visit to Türkiye at the invitation of Erdogan, with discussions set to focus on strengthening cooperation in trade, investment and regional security.
According to the PMO, the prime minister met Calık Holding Chairman Ahmet Calık, Albayrak Group Chairman of the Board of Directors Ahmet Albayrak, and Union of Chambers and Commodity Exchanges of Turkiye (TOBB) President Rifat Hisarcıklıoğlu.
During the meetings, the prime minister underscored the deep-rooted brotherly ties between Pakistan and Turkiye and emphasised the importance of translating the two countries’ exceptional relationship into a stronger economic and investment partnership, the PMO said.
He highlighted Pakistan’s improving macroeconomic fundamentals, investor-friendly policy framework and the government’s commitment to ensuring a transparent, predictable and business-friendly investment environment.
According to the PMO, the prime minister invited Turkish companies to expand their investment footprint in Pakistan’s priority sectors, including energy, mining and minerals, infrastructure, maritime and logistics, information technology, telecommunications, manufacturing, agriculture and privatisation.
Read: PM in Istanbul on bilateral visit
He said the Special Investment Facilitation Council (SIFC), working in close coordination with the relevant federal and provincial authorities, continued to provide one-window facilitation and institutional support for strategic investors.
During his meeting with Çalık Holding, the prime minister highlighted Pakistan’s opportunities in energy, infrastructure, information technology and privatisation, according to the PMO. He also welcomed the company’s interest in expanding its operations in Pakistan, saying its existing presence through Calık Enerji and GAP İnşaat provided a strong foundation for deeper cooperation.
In his meeting with Albayrak Group, the prime minister appreciated the company’s longstanding engagement in Pakistan and encouraged it to further expand its investments in maritime infrastructure, port modernisation and logistics, recognising its contribution to Pakistan’s connectivity and infrastructure development, the PMO said.
According to the PMO, the prime minister also met TOBB President Rifat Hisarcıklıoglu and appreciated the organisation’s continued efforts to strengthen business-to-business engagement between Pakistan and Turkiye. He proposed establishing a structured institutional mechanism for regular interaction between the private sectors of both countries and invited TOBB to lead a high-level business delegation to Pakistan to explore emerging investment opportunities firsthand.
The Turkish business leaders appreciated the Government of Pakistan’s economic reforms, improving investment climate and investor-friendly policies, according to the PMO. They expressed confidence in Pakistan’s economic outlook and reaffirmed their interest in expanding investments and developing long-term partnerships across a range of strategic sectors, contributing to the growing economic partnership between Pakistan and Turkiye.
