Pakistan, Türkiye to Boost Economic, Regional Cooperation on Shehbaz Sharif’s Visit to Ankara

ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif will be visiting Ankara today, Tuesday, to meet Turkish President Recep Tayyip Erdoğan and discuss bilateral ties and the regional situation, the foreign office said in a statement. 

Pakistan and Turkiye enjoy close cultural, historical and military relations which they are now expanding into the realms of trade, economy and investment as both countries seek to develop their economies.

“During the visit, the Prime Minister will hold extensive discussions with President Erdogan on bilateral relations as well as exchange views on recent developments in the region and beyond,” the foreign office said about Shehbaz Sharif’s visit to Ankara.

“The upcoming meeting represents a continuation of robust dialogue and underscores the shared commitment to further elevate the multifaceted partnership between Pakistan and Türkiye.”

Also See: Pakistan and Turkiye Sign Joint Oil and Gas Bidding Agreement

As long-standing allies and strategic partners, Pakistan and Turkiye maintain a tradition of regular exchanges and have institutionalized leadership-level mechanisms such as the High-Level Strategic Cooperation Council (HLSCC).

The 7th session of the HLSCC was held in Islamabad on Feb 12-13 this year, and co-chair by Sharif and Erdogan.

Pakistan and Turkiye have a Preferential Trade Agreement (PTA) since August 2022, granting tariff concessions on certain goods, and are working to increase bilateral trade to $5 billion.

While trade has increased in recent years, it is not yet a major trading partner for either country. A Free Trade Agreement is also under consideration.

In 2023, Pakistan’s exports to Turkiye were $352.1 million, and imports stood at $250.8 million. Turkiye’s exports to Pakistan in 2024 included items like lead, meat, and works of art while Pakistan’s exports to Turkiye included explosives, zinc, meat, and fur skins.

This news is sourced from Arab News and is intended for informational purposes only.