Bilateral Trade Between Pakistan and Turkiye Remains Stagnant at $5 Billion Target

Strategic Insights -

Turkish Ambassador to Pakistan Irfan Neziroglu has underscored the need to diversify cooperation into non-defence sectors to realise the untapped trade potential between the two brotherly nations. Despite five years of high-level political engagement and strong defence ties, bilateral trade remains stuck at the same $5 billion target set in 2020. The ambassador noted that Pakistan's export range to Turkiye is limited, and the country should identify and include new items to strengthen its export base. Neziroglu highlighted that in 2024-25, bilateral trade volume stood at $908 million, with Pakistan's exports at $264 million and imports at $643 million, according to the State Bank of Pakistan (SBP).

Key Takeaways:

  • The bilateral trade volume between Pakistan and Turkiye has remained stuck at the same $5 billion target since 2020, despite five years of high-level political engagement and strong defence ties.
  • Pakistan's export range to Turkiye is limited, with the country exporting only a small number of goods to Turkiye.
  • The trade volume has remained far below the set targets, with Pakistan's exports at $264 million and imports at $643 million in 2024-25, according to the State Bank of Pakistan (SBP).
  • Pakistan and Turkiye have met repeatedly at the leadership level this year, but the progress in commerce has not reflected the strength of their political and defence relations.
  • Turkiye has 44 missions in Africa, while Pakistan enjoys strong access to Asian markets, a combination that could be mutually beneficial.
  • Pakistan can benefit immensely by partnering with Turkish companies in thriving sectors such as IT and tourism, with Turkiye earning $60 billion from tourism last year.
  • Pakistan's new defence pact with Saudi Arabia is a significant milestone, and the country aims to deepen its ties with Turkiye.

Statistics:

  • Bilateral trade volume between Pakistan and Turkiye: $908 million (2024-25)
  • Pakistan's exports to Turkiye: $264 million (2024-25)
  • Pakistan's imports from Turkiye: $643 million (2024-25)
  • Turkiye's tourism earnings: $60 billion (last year)
  • Number of Turkish missions in Africa: 44
  • Number of 5-star hotels in Antalya: 500

Sources:

  • Speaking with Lahore Chamber of Commerce and Industry (LCCI) President Faheem Rehman Saigol on Thursday, Ambassador Irfan Neziroglu emphasized the urgent need to diversify cooperation into non-defence sectors.
  • "The trade volume has remained far below the set targets. We must examine why progress in commerce is not reflecting the strength of our political and defence relations," Neziroglu remarked.
  • According to the State Bank of Pakistan (SBP), in 2024-25, bilateral trade volume stood at $908 million, with Pakistan's exports at $264 million and imports at $643 million.
  • Turkiye earned $60 billion from tourism last year, with the city of Antalya alone hosting 500 five-star hotels.
  • Pakistan and Turkiye have met repeatedly at the leadership level this year, including on the sidelines of events in Azerbaijan, Sharm El-Sheikh, the UN General Assembly, and in Turkiye itself.