Pakistan and Türkiye reaffirm $5 billion target and expand trade, investment talks in Istanbul

'Two hearts with one soul': PM Shehbaz says Pak-Turkiye economic partnership 'entering a new phase'

Turkiye’s President Recep Tayyip Erdogan on Saturday said Islamabad and Ankara have reaffirmed their target to increase the volume of bilateral trade to $5 billion a year. He made the remarks during a joint press conference in Istanbul with Prime Minister Shehbaz Sharif, who is on an official visit to Turkiye. The two leaders had held a bilateral meeting prior to their press briefing. “In our talks today, we exchanged views on global and regional issues with a particular focus on our bilateral relations,” President Erdogan said. Affirming that Turkiye’s solidarity with Pakistan “continues in every field”, the president said the two sides discussed the “steps we can take to further enhance our trade and investment relations in a manner befitting the spirit of solidarity”. “We have reaffirmed our target of increasing our trade volume to the previously set level of $5 billion,” he added, referring to their pledge made in May 2024 based on potential identified in 2022. Erdogan noted that both countries’ trade ministries were working on establishing a special economic zone (SEZ) planned for “our business people in Karachi”. “Similarly, negotiations are ongoing on expanding the scope of our preferential trade agreement,” he said, expressing confidence that the B2B conference would contribute to Pak-Turkiye investment ties. “We, too, encourage our investors to engage in more activities in Pakistan,” he added. The Turkish president remarked that the bilateral cooperation in the defence industry was “one of the cornerstones of our economic relations and it continues to grow stronger with new projects each passing day”. “We are implementing these projects step by step, and I am confident and I believe that they will further strengthen Pakistan.” Erdogan expressed Turkiye’s desire to deepen cooperation in the fields of energy, transportation, critical minerals, and information technologies. “I hope that today’s meeting and the decisions we have reached will lead to beneficial outcomes,” he concluded. At the outset of his address, Erdogan mentioned Islamabad’s role in mediation between the United States and Iran, which culminated in an understanding last month to end the war. He said the “entire world has had a sigh of relief thanks to the calm achieved through” the Islamabad Memorandum of Understanding, which was signed on June 18 to end the US-Iran war. “Recent reports in the international media have highlighted challenges involved in the negotiation process,” he noted. The Turkish president congratulated PM Shehbaz and the Pakistani “brothers and sisters whose invaluable efforts played a major role in achieving this outcome”. “We too have supported and continue to support every step that will help to reduce tensions in our region and resolve issues through diplomatic means,” he affirmed. Erdogan said Ankara was “closely monitoring the Israeli administration’s provocations aimed at sabotaging the agreement” between the US and Iran. “The Zionist massacre team responsible has cited political survival to the continuation of conflicts in the region, and the Israeli occupying forces are also continuing their inhumane attacks on the people of Gaza,” he highlighted. The Turkish president asserted that the “current war-addicted Israeli government must not be allowed to once again engulf our region in the smell of gunpowder and blood”. “Turkiye seeks the establishment of an environment in which all the peoples of the region, regardless of their faith, can live in peace and security,” he stated, adding that his country was making every effort to create such an environment. Erdogan emphasised: “No solution that does not derive strength from the contributions of countries in the region can possibly be lasting.” He affirmed that Ankara would continue working with “brotherly countries, foremost among them Pakistan, to strengthen peace, stability and prosperity in our region”. Erdogan also expressed his condolences on Friday’s accident near the Balochistan-KP border, which claimed the lives of 40 people. Erdogan had received PM Shehbaz at Vahdettin Palace, where an official welcome ceremony was held. The two leaders then proceeded to a bilateral meeting, which was expected to be followed by delegation-level talks. Turkish Foreign Minister Hakan Fidan, National Intelligence Organisation head Ibrahim Kalin, the presidency’s Communications Director Burhanettin Duran, and the president’s chief adviser Akif Cagatay Kilic attended the closed-door meeting. According to the Foreign Office, PM Shehbaz was set to “hold discussions on the entire gamut of bilateral relations with a special focus on giving impetus to bilateral trade and investment cooperation between the two brotherly countries”. “The leadership meeting will also reflect on issues concerning regional peace and security,” FO spokesperson Tahir Andrabi said on Thursday. In his remarks, PM Shehbaz described discussions with Erdogan as “very comprehensive and productive discussions”. “We expressed satisfaction over the growing momentum in bilateral trade, investment and industrial cooperation, while reviewing concrete steps to unlock the full potential of our economic partnership,” he elaborated. PM Shehbaz remarked that a “tremendous reservoir of goodwill” between the two nations provided them a “unique and ideal opportunity to achieve our mutually-agreed target of $5bn in bilateral trade”. “Pakistan and Turkiye have always stood firmly beside one another on issues of fundamental national importance,” he said, affirming that Islamabad will continue to stand firmly with Ankara over the issue of the Turkish Republic of Northern Cyprus. The prime minister expressed Pakistan’s “profound appreciation for Turkiye’s principled and unwavering support for the people of Jammu and Kashmir and their legitimate right to self-determination”. “President Erdogan and I reaffirmed our shared belief that dialogue, diplomacy and mutual respect remain the only sustainable path to resolving disputes and preserving international peace and security,” he emphasised. The premier extended his “deep and sincere appreciation for Turkiye’s strong and steadfast support” for Pakistan’s peace efforts that culminated in the signing of the Islamabad MoU. “The future of Pakistan-Turkiye relations is infinitely promising and bright,” PM Shehbaz remarked. He asserted that the decisions made “today will not remain words on paper, but they will translate into greater trade, stronger investment, deeper strategic cooperation and above all, a better future for our peoples”. “Turkiye’s success is Pakistan’s success; Pakistan’s progress is Türkiye’s progress,” the prime minister said, assuring Erdogan of Islamabad’s unwavering commitment to further strengthen their countries’ partnership. PM Shehbaz had begun his address by thanking the Turkish side’s hospitality and hailing the “unique friendship” between the two nations forged through shared history and common faith. “Pakistan has always found its home in the hearts of the people of Turkiye, just as Turkiye lives in the hearts of every Pakistani,” he remarked. He noted that the people of both countries stood together in moments that “shaped the course of history”, such as Turkiye’s War of Independence, when Muslims of the subcontinent supported Turkiye’s efforts for independence. “Mothers took off their bangles, young daughters gave away their cherished jewellery, and countless families sacrificed their savings — a remarkable expression of love and solidarity,” the premier said. He added: “But little did our forefathers know that this selfless generosity would be one day returned by the people of Turkiye with even greater compassion, affection and brotherhood.” Highlighting that Turkiye always stood with Pakistan during difficult times, PM Shehbaz said: “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, recalling Erdogan’s visit to flood-affected areas of Pakistan in 2010 and his wife Emine Erdogan donating her necklace to support flood victims. The prime minister further pointed out that under Erdogan’s instructions, a Turkish company set up a modern hospital, a school and model villages in Muzaffargarh. “Today, Recep Tayyip Erdogan Hospital and Emine Erdogan School continue to provide high-quality medical treatment to patients and high-quality education to our children,” he said. “This gesture is a lasting testament to Turkiye’s compassion and enduring brotherhood between our two nations. This is why we proudly say Pakistan and Turkiye are two hearts with one soul,” the premier remarked. PM Shehbaz lauded Erdogan: “Very few leaders of our time have demonstrated the vision, courage and steadfast resolve that President Tayyip Erdogan has shown in more than two decades of bold and dynamic leadership.” He highlighted that Turkiye had undergone a “remarkable transformation economically, technologically and strategically” under Erdogan’s rule. “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,” the prime minister said. Referring to the Pakistan-Turkiye business conference he addressed earlier, PM Shehbaz said: “The optimism, wisdom and entrepreneurial spirit I witnessed today 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.” ‘Turkiye one of Pakistan’s staunchest allies’ PM Shehbaz also addressed a Pakistan-Turkiye business-to-business (B2B) conference in Istanbul. At the outset of his address, the premier called Turkiye “one of Pakistan’s staunchest allies around the globe”. The prime minister noted that the strength of the Pak-Turkiye relationship “demands very strongly that these beautiful words from both sides must now be converted into something concrete”, referring to the speeches given by the two countries’ ministers. “I think this is high time when Pakistan, with the great support of my very dear brother President Tayyip Erdogan, has been able to mediate peace between the United States and Iran,” he recalled. PM Shehbaz described the mediation efforts, saying, “It wasn’t an easy task; a very uphill task.” He added that “this mission would have been well-nigh impossible” without the “very sincere support” of Turkiye and other brotherly countries. The prime minister called for finding “tremendous potential in this peace process not only for our bilateral benefits, but for the entire region”. Commending Erdogan’s “dynamic leadership”, he noted that Turkiye had made “tremendous strides in the field of industry”. “Today, your automobile industry is at par with your textile, livestock, agriculture, and this has been a kind of a mini-miracle in the last 20 years under President Tayyip Erdogan’s leadership.” Turkish Vice President Cevdet Yılmaz attended the moot. Petroleum Minister Ali Pervaiz Malik, Power Minister Awais Leghari and IT Minister Shaza Fatima Khawaja were among those from the Pakistani side who also addressed the conference. The B2B conference was to “spotlight Pakistan’s trade and investment potential in priority areas, including SEZs (special economic zones), energy, trade, IT and privatisation sectors”, the FO spokesperson had said. PM invites Turkish companies to expand investments in Pakistan As he began the day, PM Shehbaz held a series of meetings with senior executives of Turkiye’s leading business groups and industry organisations in Istanbul. He invited Turkish companies to expand their investments in several sectors in Pakistan, including energy, mining and minerals, infrastructure, maritime and logistics, information technology, telecommunications, manufacturing, agriculture and privatisation, according to the Prime Minister’s Office (PMO). The statement said PM Shehbaz reaffirmed Pakistan’s commitment to “strengthening economic cooperation and attracting greater Turkish investment across key sectors of the economy”. He also 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, it added. PM Shehbaz also discussed Pakistan’s improving macroeconomic fundamentals and investor-friendly policy framework, adding that the government is committed to ensuring “a transparent, predictable and business-friendly investment environment”. “He noted that the Special Investment Facilitation Council (SIFC), working in close coordination with the relevant federal and provincial authorities, continues to provide one-window facilitation and institutional support for strategic investors,” the statement said. Speaking with the chairman of Çalık Holding, Ahmet Çalık, Shehbaz stressed opportunities in Pakistan’s energy, infrastructure, information technology and privatisation sectors, welcoming the company’s interest in expanding its operations in Pakistan. He also invited Albayrak Group to expand its investments in maritime infrastructure, port modernisation and logistics, “recognising its important contribution to Pakistan’s connectivity and infrastructure development”. The statement said the premier appreciated the Union of Chambers and Commodity Exchanges of Turkiye (TOBB) for its “continued efforts to strengthen business-to-business engagement between Pakistan and Turkiye” in a meeting with the organisation’s president. He further proposed 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. According to the PMO, the Turkish business leaders expressed confidence in Pakistan’s economic outlook, the press release said, adding that the business groups “reaffirmed their interest in expanding investments and developing long-term partnerships across a range of strategic sectors”. Turkcell invited to explore collaboration in 5G deployment, other areas In a separate meeting with Turkcell Chief Executive Officer (CEO) Ali Taha Koç, PM Shehbaz shared his government’s vision of establishing a Pakistan–Türkiye Digital Corridor. According to a PMO statement, the digital corridor would “strengthen regional digital connectivity, facilitate secure cross-border data flows, and advance the integration of digital infrastructure”. The premier underscored the importance of deepening Pakistan–Türkiye cooperation in the digital and technology sectors. He invited Turkcell to explore long-term collaboration with Pakistani institutions in various areas, including 5G deployment, network optimisation, spectrum management, digital infrastructure and technology transfer. “He also encouraged the company to consider partnerships in the local manufacturing of telecommunications equipment, software development, digital skills development and capacity building,” PMO said. PM Shehbaz stressed that such cooperation would strengthen Pakistan’s technology ecosystem while generating opportunities for innovation, employment and sustainable growth. He reaffirmed Pakistan’s “commitment to maintaining a transparent, predictable and investment-friendly business environment, supported by the SIFC, to facilitate strategic investments in high-value sectors, particularly information and communication technologies”. On his part, the Turkcell CEO appreciated the government’s “forward-looking digital transformation agenda and expressed Turkcell’s keen interest in exploring opportunities for collaboration in telecommunications, digital infrastructure and emerging technologies”, PMO said. He reaffirmed the company’s commitment to “working closely with the relevant Pakistani stakeholders to develop mutually beneficial partnerships that contribute to the shared economic and technological aspirations” of both countries. PM Shehbaz had arrived in Istanbul on Friday for an official visit at the invitation of Erdogan, after attending the funeral of Iranian supreme leader Ayatollah Ali Khamenei in Tehran. Last week, Pakistan and Turkiye signed three MoUs aimed at enhancing institutional collaboration, technical cooperation and knowledge sharing in the power sector during high-level consultations held in Istanbul.

1 hour ago

Pakistan, Turkiye reaffirm resolve to enhance bilateral trade to $5bn

Turkiye’s President Recep Tayyip Erdogan on Saturday said Islamabad and Ankara have reaffirmed their target to increase the volume of bilateral trade to $5 billion. He made the remarks during a joint press conference in Istanbul with Prime Minister Shehbaz Sharif, who is on an official visit to Turkiye. The two leaders had held a bilateral meeting prior to their press briefing. “In our talks today, we exchanged views on global and regional issues with a particular focus on our bilateral relations,” President Erdogan said. Affirming that Turkiye’s solidarity with Pakistan “continues in every field”, the president said the two sides discussed the “steps we can take to further enhance our trade and investment relations in a manner befitting the spirit of solidarity”. “We have reaffirmed our target of increasing our trade volume to the previously set level of $5 billion,” he added, referring to their pledge made in May 2024 based on potential identified in 2022. Erdogan noted that both countries’ trade ministries were working on establishing a special economic zone (SEZ) planned for “our business people in Karachi”. “Similarly, negotiations are ongoing on expanding the scope of our preferential trade agreement,” he said, expressing confidence that the B2B conference would contribute to Pak-Turkiye investment ties. “We, too, encourage our investors to engage in more activities in Pakistan,” he added. The Turkish president remarked that the bilateral cooperation in the defence industry was “one of the cornerstones of our economic relations and it continues to grow stronger with new projects each passing day”. “We are implementing these projects step by step, and I am confident and I believe that they will further strengthen Pakistan.” Erdogan expressed Turkiye’s desire to deepen cooperation in the fields of energy, transportation, critical minerals, and information technologies. “I hope that today’s meeting and the decisions we have reached will lead to beneficial outcomes,” he concluded. At the outset of his address, Erdogan mentioned Islamabad’s role in mediation between the United States and Iran, which culminated in an understanding last month to end the war. He said the “entire world has had a sigh of relief thanks to the calm achieved through” the Islamabad Memorandum of Understanding, which was signed on June 18 to end the US-Iran war. “Recent reports in the international media have highlighted challenges involved in the negotiation process,” he noted. The Turkish president congratulated PM Shehbaz and the Pakistani “brothers and sisters whose invaluable efforts played a major role in achieving this outcome”. “We too have supported and continue to support every step that will help to reduce tensions in our region and resolve issues through diplomatic means,” he affirmed. Erdogan said Ankara was “closely monitoring the Israeli administration’s provocations aimed at sabotaging the agreement” between the US and Iran. “The Zionist massacre team responsible has cited political survival to the continuation of conflicts in the region, and the Israeli occupying forces are also continuing their inhumane attacks on the people of Gaza,” he highlighted. The Turkish president asserted that the “current war-addicted Israeli government must not be allowed to once again engulf our region in the smell of gunpowder and blood”. “Turkiye seeks the establishment of an environment in which all the peoples of the region, regardless of their faith, can live in peace and security,” he stated, adding that his country was making every effort to create such an environment. Erdogan emphasised: “No solution that does not derive strength from the contributions of countries in the region can possibly be lasting.” He affirmed that Ankara would continue working with “brotherly countries, foremost among them Pakistan, to strengthen peace, stability and prosperity in our region”. Erdogan also expressed his condolences on Friday’s accident near the Balochistan-KP border, which claimed the lives of 40 people. Erdogan had received PM Shehbaz at Vahdettin Palace, where an official welcome ceremony was held. The two leaders then proceeded to a bilateral meeting, which was expected to be followed by delegation-level talks. Turkish Foreign Minister Hakan Fidan, National Intelligence Organisation head Ibrahim Kalin, the presidency’s Communications Director Burhanettin Duran, and the president’s chief adviser Akif Cagatay Kilic attended the closed-door meeting. According to the Foreign Office, PM Shehbaz was set to “hold discussions on the entire gamut of bilateral relations with a special focus on giving impetus to bilateral trade and investment cooperation between the two brotherly countries”. “The leadership meeting will also reflect on issues concerning regional peace and security,” FO spokesperson Tahir Andrabi said on Thursday. ‘Turkiye one of Pakistan’s staunchest allies’ PM Shehbaz also addressed a Pakistan-Turkiye business-to-business (B2B) conference in Istanbul. At the outset of his address, the premier called Turkiye “one of Pakistan’s staunchest allies around the globe”. He noted that the “fraternal bond between our two countries” dated back to Turkiye’s War of Independence, when Muslims of the subcontinent supported Turkiye’s efforts for independence. PM Shehbaz said: “Little did our forefathers know that a time would come when our brothers and sisters in Turkiye would pay back far beyond our own imaginations in terms of compassion, friendship, support. “Be it war, earthquakes, floods, Turkiye has been Pakistan’s staunchest ally throughout the period.” The prime minister noted that the strength of the Pak-Turkiye relationship “demands very strongly that these beautiful words from both sides must now be converted into something concrete”, referring to the speeches given by the two countries’ ministers. “I think this is high time when Pakistan, with the great support of my very dear brother President Tayyip Erdogan, has been able to mediate peace between the United States and Iran,” he recalled. PM Shehbaz described the mediation efforts saying, “It wasn’t an easy task; a very uphill task.” He added that “this mission would have been well-nigh impossible” without the “very sincere support” of Turkiye and other brotherly countries. The prime minister called for finding “tremendous potential in this peace process not only for our bilateral benefits, but for the entire region”. Commending Erdogan’s “dynamic leadership”, he noted that Turkiye had made “tremendous strides in the field of industry”. “Today, your automobile industry is at par with your textile, livestock, agriculture, and this has been a kind of a mini-miracle in the last 20 years under President Tayyip Erdogan’s leadership.” Turkish Vice President Cevdet Yılmaz attended the moot. Petroleum Minister Ali Pervaiz Malik, Power Minister Awais Leghari and IT Minister Shaza Fatima Khawaja were among those from the Pakistani side who also addressed the conference. The B2B conference was to “spotlight Pakistan’s trade and investment potential in priority areas, including SEZs (special economic zones), energy, trade, IT and privatisation sectors”, the FO spokesperson had said. PM invites Turkish companies to expand investments in Pakistan As he began the day, PM Shehbaz held a series of meetings with senior executives of Turkiye’s leading business groups and industry organisations in Istanbul. He invited Turkish companies to expand their investments in several sectors in Pakistan, including energy, mining and minerals, infrastructure, maritime and logistics, information technology, telecommunications, manufacturing, agriculture and privatisation, according to the Prime Minister’s Office (PMO). The statement said PM Shehbaz reaffirmed Pakistan’s commitment to “strengthening economic cooperation and attracting greater Turkish investment across key sectors of the economy”. He also 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, it added. PM Shehbaz also discussed Pakistan’s improving macroeconomic fundamentals and investor-friendly policy framework, adding that the government is committed to ensuring “a transparent, predictable and business-friendly investment environment”. “He noted that the Special Investment Facilitation Council (SIFC), working in close coordination with the relevant federal and provincial authorities, continues to provide one-window facilitation and institutional support for strategic investors,” the statement said. Speaking with the chairman of Çalık Holding, Ahmet Çalık, Shehbaz stressed opportunities in Pakistan’s energy, infrastructure, information technology and privatisation sectors, welcoming the company’s interest in expanding its operations in Pakistan. He also invited Albayrak Group to expand its investments in maritime infrastructure, port modernisation and logistics, “recognising its important contribution to Pakistan’s connectivity and infrastructure development”. The statement said the premier appreciated the Union of Chambers and Commodity Exchanges of Turkiye (TOBB) for its “continued efforts to strengthen business-to-business engagement between Pakistan and Turkiye” in a meeting with the organisation’s president. He further proposed 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. According to the PMO, the Turkish business leaders expressed confidence in Pakistan’s economic outlook, the press release said, adding that the business groups “reaffirmed their interest in expanding investments and developing long-term partnerships across a range of strategic sectors”. Turkcell invited to explore collaboration in 5G deployment, other areas In a separate meeting with Turkcell Chief Executive Officer (CEO) Ali Taha Koç, PM Shehbaz shared his government’s vision of establishing a Pakistan–Türkiye Digital Corridor. According to a PMO statement, the digital corridor would “strengthen regional digital connectivity, facilitate secure cross-border data flows, and advance the integration of digital infrastructure”. The premier underscored the importance of deepening Pakistan–Türkiye cooperation in the digital and technology sectors. He invited Turkcell to explore long-term collaboration with Pakistani institutions in various areas, including 5G deployment, network optimisation, spectrum management, digital infrastructure and technology transfer. “He also encouraged the company to consider partnerships in the local manufacturing of telecommunications equipment, software development, digital skills development and capacity building,” PMO said. PM Shehbaz stressed that such cooperation would strengthen Pakistan’s technology ecosystem while generating opportunities for innovation, employment and sustainable growth. He reaffirmed Pakistan’s “commitment to maintaining a transparent, predictable and investment-friendly business environment, supported by the SIFC, to facilitate strategic investments in high-value sectors, particularly information and communication technologies”. On his part, the Turkcell CEO appreciated the government’s “forward-looking digital transformation agenda and expressed Turkcell’s keen interest in exploring opportunities for collaboration in telecommunications, digital infrastructure and emerging technologies”, PMO said. He reaffirmed the company’s commitment to “working closely with the relevant Pakistani stakeholders to develop mutually beneficial partnerships that contribute to the shared economic and technological aspirations” of both countries. PM Shehbaz had arrived in Istanbul on Friday for an official visit at the invitation of Erdogan, after attending the funeral of Iranian supreme leader Ayatollah Ali Khamenei in Tehran. Last week, Pakistan and Turkiye signed three MoUs aimed at enhancing institutional collaboration, technical cooperation and knowledge sharing in the power sector during high-level consultations held in Istanbul.

2 hours ago

PM Shehbaz, Turkiye's Erdogan hold bilateral meeting in Istanbul

Prime Minister Shehbaz Sharif and Turkiye’s President Recep Tayyip Erdogan held a bilateral meeting in Istanbul on Saturday, as the premier undertakes an official visit focused on cooperation in trade and investment. Erdogan received PM Shehbaz at Vahdettin Palace, where an official welcome ceremony was held. The two leaders then proceeded to a bilateral meeting. Turkish Foreign Minister Hakan Fidan, National Intelligence Organisation head Ibrahim Kalin, the presidency’s Communications Director Burhanettin Duran, and the president’s chief adviser Akif Cagatay Kilic attended the closed-door meeting. Turkiye-based Anadolu Agency also shared visuals of Erdogan welcoming PM Shehbaz. The meeting was expected to be followed by delegation-level talks. PM Shehbaz and President Erdogan would likely also hold a joint press conference. According to the Foreign Office, PM Shehbaz was set to “hold discussions on the entire gamut of bilateral relations with a special focus on giving impetus to bilateral trade and investment cooperation between the two brotherly countries”. “The leadership meeting will also reflect on issues concerning regional peace and security,” FO spokesperson Tahir Andrabi said on Thursday. Earlier in the day, PM Shehbaz and Turkish Vice President Cevdet Yılmaz attended a Pakistan-Turkiye business-to-business (B2B) conference. Petroleum Minister Ali Pervaiz Malik, Power Minister Awais Leghari and IT Minister Shaza Fatima Khawaja were among those from the Pakistani side who addressed the conference. The prime minister was also to address the B2B conference hosted by Pakistan to “spotlight Pakistan’s trade and investment potential in priority areas, including SEZs (special economic zones), energy, trade, IT and privatisation sectors”, the FO spokesperson had said. PM invites Turkish companies to expand investments in Pakistan As he began the day, PM Shehbaz held a series of meetings with senior executives of Turkiye’s leading business groups and industry organisations in Istanbul. He invited Turkish companies to expand their investments in several sectors in Pakistan, including energy, mining and minerals, infrastructure, maritime and logistics, information technology, telecommunications, manufacturing, agriculture and privatisation, according to the Prime Minister’s Office (PMO). The statement said PM Shehbaz reaffirmed Pakistan’s commitment to “strengthening economic cooperation and attracting greater Turkish investment across key sectors of the economy”. He also 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, it added. PM Shehbaz also discussed Pakistan’s improving macroeconomic fundamentals and investor-friendly policy framework, adding that the government is committed to ensuring “a transparent, predictable and business-friendly investment environment”. “He noted that the Special Investment Facilitation Council (SIFC), working in close coordination with the relevant federal and provincial authorities, continues to provide one-window facilitation and institutional support for strategic investors,” the statement said. Speaking with the chairman of Çalık Holding, Ahmet Çalık, Shehbaz stressed opportunities in Pakistan’s energy, infrastructure, information technology and privatisation sectors, welcoming the company’s interest in expanding its operations in Pakistan. He also invited Albayrak Group to expand its investments in maritime infrastructure, port modernisation and logistics, “recognising its important contribution to Pakistan’s connectivity and infrastructure development”. The statement said the premier appreciated the Union of Chambers and Commodity Exchanges of Turkiye (TOBB) for its “continued efforts to strengthen business-to-business engagement between Pakistan and Turkiye” in a meeting with the organisation’s president. He further proposed 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. According to the PMO, the Turkish business leaders expressed confidence in Pakistan’s economic outlook, the press release said, adding that the business groups “reaffirmed their interest in expanding investments and developing long-term partnerships across a range of strategic sectors”. Turkcell invited to explore collaboration in 5G deployment, other areas PM Shehbaz also held a separate meeting with Turkcell Chief Executive Officer (CEO) Ali Taha Koç and shared his government’s vision of establishing a Pakistan–Türkiye Digital Corridor. According to a PMO statement, the digital corridor would “strengthen regional digital connectivity, facilitate secure cross-border data flows, and advance the integration of digital infrastructure”. The premier underscored the importance of deepening Pakistan–Türkiye cooperation in the digital and technology sectors. He invited Turkcell to explore long-term collaboration with Pakistani institutions in various areas, including 5G deployment, network optimisation, spectrum management, digital infrastructure and technology transfer. “He also encouraged the company to consider partnerships in the local manufacturing of telecommunications equipment, software development, digital skills development and capacity building,” PMO said. PM Shehbaz stressed that such cooperation would strengthen Pakistan’s technology ecosystem while generating opportunities for innovation, employment and sustainable growth. He reaffirmed Pakistan’s “commitment to maintaining a transparent, predictable and investment-friendly business environment, supported by the SIFC, to facilitate strategic investments in high-value sectors, particularly information and communication technologies”. On his part, the Turkcell CEO appreciated the government’s “forward-looking digital transformation agenda and expressed Turkcell’s keen interest in exploring opportunities for collaboration in telecommunications, digital infrastructure and emerging technologies”, PMO said. He reaffirmed the company’s commitment to “working closely with the relevant Pakistani stakeholders to develop mutually beneficial partnerships that contribute to the shared economic and technological aspirations” of both countries. PM Shehbaz had arrived in Istanbul on Friday for an official visit at the invitation of Erdogan, after attending the funeral of Iranian supreme leader Ayatollah Ali Khamenei in Tehran. Last week, Pakistan and Turkiye signed three MoUs aimed at enhancing institutional collaboration, technical cooperation and knowledge sharing in the power sector during high-level consultations held in Istanbul.

4 hours ago

PM Shehbaz invites Turkish companies to expand investments in Pakistan

Prime Minister Shehbaz Sharif on Saturday invited Turkish companies to expand their investments in several sectors in Pakistan, including energy, mining and minerals, infrastructure, maritime and logistics, information technology, telecommunications, manufacturing, agriculture and privatisation. According to a statement issued by the Prime Minister’s Office, the development came as the premier held a series of meetings with senior executives from Turkiye’s leading business groups and industry organisations in Istanbul during his official trip. The statement said PM Shehbaz reaffirmed Pakistan’s commitment to “strengthening economic cooperation and attracting greater Turkish investment across key sectors of the economy”. He also 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, it added. PM Shehbaz also discussed Pakistan’s improving macroeconomic fundamentals and investor-friendly policy framework, adding that the government is committed to ensuring “a transparent, predictable and business-friendly investment environment”. “He noted that the Special Investment Facilitation Council (SIFC), working in close coordination with the relevant federal and provincial authorities, continues to provide one-window facilitation and institutional support for strategic investors,” the statement said. Speaking with the chairman of Çalık Holding, Ahmet Çalık, Shehbaz stressed opportunities in Pakistan’s energy, infrastructure, information technology and privatisation sectors, welcoming the company’s interest in expanding its operations in Pakistan. He also invited Albayrak Group to expand its investments in maritime infrastructure, port modernisation and logistics, “recognising its important contribution to Pakistan’s connectivity and infrastructure development”. The statement said the premier appreciated the Union of Chambers and Commodity Exchanges of Turkiye (TOBB) for its “continued efforts to strengthen business-to-business engagement between Pakistan and Turkiye” in a meeting with the organisation’s president. He further proposed 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. According to the PMO, the Turkish business leaders expressed confidence in Pakistan’s economic outlook, the press release said, adding that the business groups “reaffirmed their interest in expanding investments and developing long-term partnerships across a range of strategic sectors”. Last week, Pakistan and Turkiye signed three MoUs aimed at enhancing institutional collaboration, technical cooperation and knowledge sharing in the power sector during high-level consultations held in Istanbul. PM Shehbaz had arrived in Istanbul on Friday for an official visit at the invitation of President Recep Tayyip Erdogan, after attending the funeral of Iranian supreme leader Ayatollah Ali Khamenei.

8 hours ago