Pakistan, Turkiye aim to boost trade to $5bn

KARACHI: Ambassador of Turkiye Irfan Neziroglu announced that efforts are underway to enhance the trade volume between Pakistan and Turkiye from the current $1.2 billion to at least $5 billion, following an agreement between President Recep Tayyip Erdogan and Prime Minister Shehbaz Sharif.

Speaking at the Karachi Chamber of Commerce and Industry (KCCI) on Friday, Ambassador Neziroglu revealed that a high-level consultative strategic meeting is planned for January or February next year. “The meeting will explore effective ways to address barriers hindering trade between our two brotherly nations,” he said.

Highlighting the importance of collaboration, the ambassador stressed, “Given the evolving global landscape, Turkiye and Pakistan must walk together. Cooperation between our countries is essential and must be strengthened across all fields. Our doors are always open to our Pakistani brothers and sisters, and we are committed to doing our best in their interest.”

He emphasised the enduring friendship between the two nations, describing Pakistan as a true friend and brother that has consistently supported Turkiye during challenging times. “A strong Pakistan is in Turkiye’s interest,” he added, pledging to work towards strengthening bilateral ties in all areas.

The ambassador acknowledged that business ties remain below expectations even though the political and defence relations between Türkiye and Pakistan are quite satisfactory. He called for collective efforts from both sides to address this gap. He said that the Turkish embassy and consulates in Pakistan are fully prepared to facilitate businesspeople looking to improve trade relations with their counterparts in Turkiye.

He suggested organising a workshop between the business communities of both countries to identify trade barriers and find solutions to mutual challenges. “Turkiye has extensive expertise in industry and agriculture, having overcome past economic difficulties to become a significant economic power. Pakistan, on the other hand, excels in the IT sector. By leveraging each other’s strengths, we can foster growth and collaboration,” he said.

Chairman BMG Zubair Motiwala, participating via Zoom, reiterated that trade between Pakistan and Turkiye has the potential to increase five-fold with concerted efforts.

The meeting concluded with a shared commitment to deepening economic ties, leveraging mutual strengths, and fostering long-term collaboration between the two nations.