Istanbul: Trkiye and Pakistan should turn their long-standing brotherly ties into stronger economic cooperation, Turkish Vice President Cevdet Yilmaz said Saturday. Speaking at the Trkiye-Pakistan Business and Investment Forum in Istanbul alongside Pakistani Prime Minister Shehbaz Sharif, Yilmaz emphasized that the friendship between the two countries has always been built on 'strong emotional bonds.' He suggested that these bonds should now be mirrored in trade, investment, technology, and production.
According to Anadolu Agency, Yilmaz stated that the two countries aim to raise their bilateral trade volume to $5 billion, a target agreed upon by Turkish President Recep Tayyip Erdogan and Prime Minister Sharif. He highlighted that the current trade, at approximately $1.2 billion last year, remains below its potential, and that the $5 billion target should be seen as 'modest' and has room to be further increased.
Yilmaz noted that Turkish direct investments in Pakistan have surpassed $2 billion, while Turkish contractors have completed 74 projects worth about $3.5 billion in the country. He expressed that Ankara and Islamabad could further expand cooperation in sectors such as automotive, agriculture technologies, food processing, medical devices, renewable energy, information technologies, e-commerce, defense industry, shipbuilding, tourism, and film and television production.
Additionally, Yilmaz welcomed a proposal to allocate a special zone for Turkish investors inside the Karachi Industrial Park, stating it could add a 'new strategic dimension' to the economic partnership. Meanwhile, Prime Minister Sharif described Trkiye as one of Pakistan's 'most loyal allies' and commended Ankara's support for Islamabad. He called for the ideas discussed at the forum to be translated into tangible results, emphasizing the need to rapidly transform their friendship into deeper economic cooperation.
The forum was also graced by the presence of Turkish Industry and Technology Minister Mehmet Fatih Kacir, Trade Minister Omer Bolat, Energy and Natural Resources Minister Alparslan Bayraktar, Pakistani ministers, and business representatives from both countries.