Türkiye, Pakistan discuss potential for 'further' bilateral economic and trade development

KARACHI, Pakistan

Türkiye and Pakistan on Thursday agreed to exploit potential for further bilateral economic and trade development, focusing on services, health, education, medicine, and fashion sectors, a government statement said.

The understanding was reached at a meeting between Turkish Trade Minister Omer Bolat and Pakistan's Finance Minister, Muhammad Aurangzeb in the capital Islamabad.

Bolat along with a business delegation is currently visiting Pakistan.

Aurangzeb emphasized the "robust and longstanding" relations between the two countries, which have the potential for development.

Bolat, for his part, highlighted the shared commitment of Turkish President Recep Tayyip Erdogan and Pakistan's Prime Minister Shehbaz Sharif to strengthen bilateral ties, with a particular focus on increasing trade and investment.

He identified key sectors for potential investment, including services, health, education, medicine and fashion.

Bolat also proposed measures to facilitate investment for Turkish companies to enhance investor confidence and recommended increasing flight connectivity between Pakistan and Türkiye to support greater economic exchange.

Acknowledging the significance of historical and cultural ties between Pakistan and Türkiye, Aurangzeb informed Bolat of a recent staff level agreement with the IMF, aimed at ensuring "long-term stability and outlined ongoing reforms in taxation, energy sector and state-owned enterprises."

"Both ministers reiterated their dedication to strengthening bilateral relations and expanding trade volume," the statement said.

Aurangzeb assured Bolat of the Pakistan's commitment to supporting Turkish investors by streamlining regulations which support ease of doing business