Pakistan and Turkiye Strengthen Bilateral Ties, Pledge to Boost Trade to $5 Billion

Strategic Insights -

Pakistan and Turkiye have reaffirmed their commitment to deepen bilateral cooperation across key sectors, including defense, trade, energy, culture, education, and infrastructure. The two countries aim to enhance their commercial relations to $5 billion by fostering cooperation in diverse areas such as energy, mining, education, and transportation. This effort is being driven by the High-Level Strategic Cooperation Council (HLSCC), which has seen significant progress in its 12 joint standing committees.

Key Takeaways:

  • Pakistan and Turkiye plan to boost bilateral trade to $5 billion by enhancing cooperation in diverse areas, including energy, mining, education, and transportation.
  • The High-Level Strategic Cooperation Council (HLSCC) has seen significant progress in its 12 joint standing committees, with a joint commission to be established to monitor progress.
  • The Joint Ministerial Commission (JMC) co-chaired by Turkish Defence Minister Yasar Gler and Pakistan's Minister of Commerce Jam Kamal Khan is expected to significantly bolster economic cooperation.
  • Pakistan is keen to adopt Turkiye's successful indigenisation of its defence industry, which has grown from 20% to 80% in recent years.
  • A Special Economic Zone is to be established in Karachi dedicated to Turkish enterprises, and the revival of the Istanbul-Tehran-Islamabad rail corridor is progressing.
  • Several key projects involving Turkish firms are being considered, including the Jinnah Medical Complex, Danish University, and offshore drilling operations.
  • Pakistan and Turkiye are prioritising capacity building in counter-terrorism, with initiatives seen as laying the groundwork for the 8th HLSCC to be held in Turkiye next year.
  • Turkiye has voiced support for Pakistan during recent tensions with India, with Turkish President Recep Tayyip Erdogan holding a phone call with Prime Minister Shehbaz Sharif to express solidarity.

Statistics:

  • Current bilateral trade between Pakistan and Turkiye: not specified
  • Targeted increase in bilateral trade to $5 billion
  • Progress in the indigenisation of Turkiye's defence industry: 80% growth in recent years
  • Percentage of projects involving Turkish firms being considered in Pakistan: not specified
  • Number of joint standing committees under the High-Level Strategic Cooperation Council (HLSCC): 12

Sources:

  • [Deputy Prime Minister and Foreign Minister Ishaq Dar]
  • [Turkish Foreign Minister Hakan Fidan]
  • [Turkish President Recep Tayyip Erdogan]
  • [High-Level Strategic Cooperation Council (HLSCC)]
  • [Prime Minister Shehbaz Sharif]