Pakistan, Turkiye reaffirm strengthening trade volume trade, bilateral ties

ISLAMABAD: Pakistan and Turkiye reaffirmed their commitment to fortifying their bilateral ties and increasing trade volume.

The reiteration during a call on meeting between the Federal Minister for Finance Senator Muhammad Aurangzeb, and a Turkish team led by Trade Minister Prof. Dr. Omer Bolat, a press statement issued here read.

Muhammad Aurangzeb warmly welcomed the Turkish delegation and emphasised the robust and longstanding brotherly relationship between the two nations, which has the potential for further bilateral economic and trade development.

In addition to giving an update on Pakistan’s strengthening economic fundamentals—which include a stable currency, foreign exchange reserves of more than $9 billion, and lowering inflation rates—the finance minister also emphasized the importance of the historical and cultural links between Pakistan and Turkiye.

Muhammad Aurangzaib also described current reforms in the energy sector, state-owned firms, and taxation. He also told Minister Bolat on a recent Staff Level Agreement with the International Monetary Fund (IMF), which aims to ensure long-term stability.

The finance minister also mphasized how the Special Investment Facilitation Council (SIFC) helps to attract foreign direct investment and streamline investment procedures.

He assured Minister Bolat of the Pakistani government’s commitment to supporting investors by streamlining regulations which support ease of doing business.

Speaking on the occasion, Minister Bolat highlighted the shared commitment of Prime Minister Shehbaz Sharif and President Erdogan 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, the statement added.

The Turkish trade minister also proposed measures to facilitate investment for their companies to enhance investor confidence and recommended increasing flight connectivity between Pakistan and Turkiye to support greater economic exchange.

Minister Bolat expressed gratitude for the support and constructive dialogue.

The press statement also read the meeting marked a significant step toward deepening economic ties and fostering closer cooperation between Pakistan and Turkiye.