The signing ceremony followed a high-level meeting between Federal Minister for Commerce Jam Kamal Khan and Turkish Minister of Trade Prof. Dr. Omer Bolat in Islamabad, where both sides reaffirmed their commitment to enhancing trade and investment ties.

Strengthening Economic Cooperation
During the meeting, Minister Jam Kamal Khan welcomed the Turkish delegation, describing Pakistan as Türkiye’s “second home.” He emphasized the importance of exploring new economic opportunities and hailed the visit as a “historic moment” for both nations. Minister Bolat, in turn, expressed gratitude for the warm reception and highlighted the strong rapport between President Erdoğan and Prime Minister Sharif, which he credited for fostering deeper ties.

The two ministers discussed the need to revamp the Preferential Trade Agreement (PTA) to address existing challenges and unlock the full trade potential between the two countries. They also explored the possibility of strengthening the D8 Preferential Trade Agreement to boost trade among member nations.

Minister Bolat acknowledged the challenges faced by Turkish investors in Pakistan but noted that most were eager to expand their investments. Minister Khan assured the delegation of Pakistan’s commitment to facilitating foreign investment, citing efforts to streamline business operations and improve the ease of doing business through initiatives like the Special Investment Facilitation Council (SIFC).

Trade and Investment Initiatives
Minister Khan proposed holding a “Made in Pakistan” exhibition in Türkiye to showcase Pakistani products across various industries. He highlighted past successful exhibitions in Saudi Arabia, Uzbekistan, and Ethiopia, emphasizing Türkiye’s strategic location as an ideal trade hub for Pakistan. In response, Minister Bolat pledged to organize reciprocal trade fairs and committed to boosting Pakistani exports, particularly Basmati rice, which he said had untapped potential under existing agreements.

The discussion also touched on Türkiye’s booming health tourism sector, which has become a global leader in attracting foreign patients. Minister Khan invited Türkiye to participate in Pakistan’s Healthcare and Industrial Expo in April, proposing joint ventures in medical technology and hospital infrastructure.

Defense and Strategic Collaboration
Defense cooperation was another key focus of the meeting. Minister Bolat revealed that Malaysia and Indonesia had placed significant orders for Turkish defense equipment and reaffirmed Türkiye’s commitment to working closely with Pakistan on joint production and technology transfer in the defense sector.

Upcoming Trade Events
Both ministers reviewed upcoming trade events to further strengthen collaboration. Minister Khan highlighted Pakistan’s Food Tech Expo in Lahore from February 26-28, which will focus on agriculture technology, food processing, and industrial value addition. He also emphasized Pakistan’s participation in Expo Met Eurasia in April, targeting the automotive and mechanical sectors.

Minister Bolat discussed Türkiye’s growing role as a global trade hub, mentioning recent fashion and furniture exhibitions in Istanbul that are beginning to replace European markets.

A New Era of Cooperation
The meeting concluded with both ministers reaffirming their commitment to expanding trade, investment, and strategic cooperation. Minister Khan expressed gratitude to Minister Bolat and the Turkish delegation for their visit, acknowledging their role in fostering stronger economic ties.

With the signing of 24 MoUs, strategic trade exhibitions, and plans to enhance the trade framework, Pakistan and Türkiye are set to enter a new era of economic collaboration. These efforts aim to strengthen the historical and brotherly ties between the two nations, paving the way for mutual prosperity.

Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdoğan signed 24 memorandums of understanding (MoUs) on Thursday, marking a significant step in strengthening cooperation between Pakistan and Türkiye. The agreements span various sectors, including trade, media, defense, healthcare, and education.

The signing ceremony followed a high-level meeting between Federal Minister for Commerce Jam Kamal Khan and Turkish Minister of Trade Prof. Dr. Omer Bolat in Islamabad, where both sides reaffirmed their commitment to enhancing trade and investment ties.

During the meeting, Minister Jam Kamal Khan welcomed the Turkish delegation, describing Pakistan as Türkiye’s “second home.” He emphasized the importance of exploring new economic opportunities and hailed the visit as a “historic moment” for both nations. Minister Bolat, in turn, expressed gratitude for the warm reception and highlighted the strong rapport between President Erdoğan and Prime Minister Sharif, which he credited for fostering deeper ties.

The two ministers discussed the need to revamp the Preferential Trade Agreement (PTA) to address existing challenges and unlock the full trade potential between the two countries. They also explored the possibility of strengthening the D8 Preferential Trade Agreement to boost trade among member nations.

Minister Bolat acknowledged the challenges faced by Turkish investors in Pakistan but noted that most were eager to expand their investments. Minister Khan assured the delegation of Pakistan’s commitment to facilitating foreign investment, citing efforts to streamline business operations and improve the ease of doing business through initiatives like the Special Investment Facilitation Council (SIFC).

Minister Khan proposed holding a “Made in Pakistan” exhibition in Türkiye to showcase Pakistani products across various industries. He highlighted past successful exhibitions in Saudi Arabia, Uzbekistan, and Ethiopia, emphasizing Türkiye’s strategic location as an ideal trade hub for Pakistan. In response, Minister Bolat pledged to organize reciprocal trade fairs and committed to boosting Pakistani exports, particularly Basmati rice, which he said had untapped potential under existing agreements.

The discussion also touched on Türkiye’s booming health tourism sector, which has become a global leader in attracting foreign patients. Minister Khan invited Türkiye to participate in Pakistan’s Healthcare and Industrial Expo in April, proposing joint ventures in medical technology and hospital infrastructure.

Defense cooperation was another key focus of the meeting. Minister Bolat revealed that Malaysia and Indonesia had placed significant orders for Turkish defense equipment and reaffirmed Türkiye’s commitment to working closely with Pakistan on joint production and technology transfer in the defense sector.

Upcoming Trade Events
Both ministers reviewed upcoming trade events to further strengthen collaboration. Minister Khan highlighted Pakistan’s Food Tech Expo in Lahore from February 26-28, which will focus on agriculture technology, food processing, and industrial value addition. He also emphasized Pakistan’s participation in Expo Met Eurasia in April, targeting the automotive and mechanical sectors.

Minister Bolat discussed Türkiye’s growing role as a global trade hub, mentioning recent fashion and furniture exhibitions in Istanbul that are beginning to replace European markets.

The meeting concluded with both ministers reaffirming their commitment to expanding trade, investment, and strategic cooperation. Minister Khan expressed gratitude to Minister Bolat and the Turkish delegation for their visit, acknowledging their role in fostering stronger economic ties.

With the signing of 24 MoUs, strategic trade exhibitions, and plans to enhance the trade framework, Pakistan and Türkiye are set to enter a new era of economic collaboration. These efforts aim to strengthen the historical and brotherly ties between the two nations, paving the way for mutual prosperity.