Saturday, 04 July 2026, 11:28:33 pm


 
Pakistan, Türkiye reaffirm commitment to $5bn trade target
July 04, 2026

Prime Minister Shehbaz Sharif has reaffirmed Pakistan's resolve to further strengthen its time-tested strategic partnership with Türkiye.

He was addressing a joint press stakeout with Turkish President Recep Tayyip Erdogan in Istanbul today.

The Prime Minister said Pakistan and Türkiye share an extraordinary bond founded on centuries of common history, shared faith, mutual sacrifice and an enduring sense of brotherhood.

Shehbaz Sharif said Türkiye has always stood by Pakistan during difficult times, including wars, earthquakes, and devastating floods.

The Prime Minister praised President Erdogan's visionary leadership, saying Türkiye has achieved remarkable economic, technological, and strategic progress under his stewardship.

Referring to bilateral cooperation, Shehbaz Sharif said both sides held comprehensive and productive discussions on trade, investment, and industrial collaboration, reaffirming their commitment to achieving the bilateral trade target of five billion dollars.

Highlighting regional peace efforts, Shehbaz Sharif said the Islamabad Memorandum of Understanding reflects the shared belief that dialogue, diplomacy, and mutual respect remain the only sustainable path to resolving disputes and ensuring lasting peace and stability in the region.

The Prime Minister also expressed Pakistan's support for Türkiye on the issue of the Turkish Republic of Northern Cyprus and thanked Ankara for its consistent support for the people of Jammu and Kashmir and their right to self-determination.

In his remarks, President Recep Tayyip Erdogan congratulated Prime Minister Shehbaz Sharif and the people of Pakistan for their valuable efforts in achieving the outcome of the mediation process.

He welcomed the peace achieved through the Islamabad Memorandum of Understanding, saying the entire world breathed a sigh of relief following the agreement.

The Turkish President also expressed concern over attempts to undermine the agreement and strongly condemned Israel's continued attacks on Gaza.

He said Türkiye remains committed to establishing an environment where all people in the region can live in peace and security, adding that lasting solutions can only be achieved through the sincere participation and contributions of regional countries.

Recep Tayyip Erdogan said Türkiye and Pakistan will continue working together to promote peace, stability and prosperity in the region.

Talking about economic initiatives, the Turkish President said work is continuing on establishing a Special Economic Zone in Karachi for Turkish investors, while negotiations are also underway to expand bilateral trade.

He said Türkiye encourages greater investment in Pakistan and described defence cooperation as one of the key pillars of bilateral economic relations.

He said both countries are also committed to expanding cooperation in the fields of energy, transportation, critical minerals, and information technology.