Turkish President Recep Tayyip Erdoğan announced that he and Pakistani Prime Minister Shehbaz Sharif have agreed to intensify efforts to increase bilateral trade volume to $5 billion. This statement came during a joint press conference with Sharif on Thursday, following their meeting in Islamabad, the Pakistani capital, which Erdoğan visited as part of an Asian tour that also included Malaysia and Indonesia.
Expressing his pleasure at visiting Pakistan, which he described as his “second home,” Erdoğan stated that he had discussed bilateral relations and regional and global developments with Sharif. He emphasized that both countries had agreed to strengthen their ties and had signed 24 memorandums of understanding in this regard.
Expanding Bilateral Cooperation
The Turkish president explained that the signed agreements cover various fields, including trade, water resources management, agriculture, energy, culture, social services, science, banking, education, defense, and health. He also stressed that the Turkish government actively encourages its investors to expand their economic activities in Pakistan.
“We encourage our investors—who form the backbone of economic cooperation—to enhance their presence in Pakistan. We share the same vision with Prime Minister Shehbaz Sharif on the need to intensify our efforts to achieve the $5 billion trade volume target,” Erdoğan added.
Strong Turkish Investments in Pakistan
For his part, Attila Demir Yerlikaya, Chairman of the Turkey-Pakistan Business Council at the Foreign Economic Relations Board, highlighted that Turkey is one of the largest foreign investors in Pakistan, with its direct investments exceeding $1 billion.
In an interview with Anadolu Agency, Yerlikaya emphasized that Erdoğan’s visit reflects the deep historical ties and strong cultural and economic connections between the two nations. He reaffirmed the commitment of the Business Council to strengthening the bridge between the Turkish and Pakistani business sectors to achieve the shared trade goal of $5 billion.
He further stressed that one of the council’s primary objectives is to convince Turkish companies that Pakistan is not just a market but a strategic partner for long-term growth, urging a forward-looking approach to economic cooperation.
Promising Investment Opportunities in Pakistan
Yerlikaya highlighted Pakistan’s unique strategic location, which positions it as a key corridor for trade, energy, and transportation in Asia. He noted that Pakistan serves as a gateway linking energy-rich Central Asian countries with financially strong Gulf nations and the economically advanced Far Eastern markets, providing immense investment potential.
He also pointed out the promising investment opportunities in Pakistan, particularly in institutional agriculture, fruit and vegetable production, and livestock industries.
Additionally, he emphasized that Pakistan’s cold chain logistics services, agricultural technologies, and halal meat export sector hold great potential for generating high returns.
Pakistan also boasts a rapidly growing tech ecosystem, with more than 600,000 IT professionals and around 300,000 freelancers in the digital sector, further strengthening its position as a rising technology hub.
Investment Prospects in Energy and Infrastructure
Regarding the energy sector, Yerlikaya noted that Pakistan offers significant opportunities for investment in renewable energy projects, including solar and wind energy. He also highlighted the potential for investing in the development of transportation and logistics infrastructure, further reinforcing Pakistan’s role as a regional trade hub.
He concluded by pointing to Pakistan’s vast reserves of valuable minerals such as copper, gold, and chromium, stating that investment in mining technology and mineral processing could help unlock the full potential of this sector.
