Pakistan and Türkiye Sign 24 Agreements to Strengthen Trade, Defense, and Economic Ties
- Abeera Marium Siddiqui
- February 13, 2025
- 5:29 pm
- 217
- Current Affairs
Pakistan and Türkiye sign 24 agreements to boost trade, defense, and economic cooperation. The agreements aim to strengthen ties in multiple sectors, including energy, banking, education, and media.
High-Level Strategic Cooperation Council Meeting
Turkish President Recep Tayyip Erdoğan arrived in Islamabad for a two-day official visit. He co-chaired the 7th session of the Pakistan-Türkiye High-Level Strategic Cooperation Council (HLSCC) with Prime Minister Shehbaz Sharif. The council was established in 2009 to enhance cooperation in trade, investment, banking, culture, tourism, and defense.
Both leaders reaffirmed their commitment to economic growth. They signed a Joint Declaration to deepen their strategic partnership. They also set a goal to increase bilateral trade to $5 billion.
Key Agreements Signed
The 24 agreements focus on several sectors including:
- Defense – Four agreements cover joint manufacturing, procurement, and technology exchange.
- Trade and Investment – Two MoUs were signed at the Pakistan-Türkiye Business Forum to create business opportunities.
- Energy and Mining – Agreements in power, energy, and mining will promote industrial cooperation.
- Banking and Finance – The Export Credit Bank of Türkiye and Pakistan’s EXIM Bank signed an MoU to improve financial collaboration.
- Education and Scientific Research – Two agreements will support academic exchange and training programs.
- Water and Agriculture – MoUs focus on water management and improving agricultural seed production.
- Media and Culture – Both countries agreed to co-produce cultural content and promote media cooperation.
Military and Economic Cooperation
At a joint press conference, President Erdoğan emphasized Türkiye’s growing military and defense ties with Pakistan. He highlighted how these agreements will increase trade and investment.
Prime Minister Shehbaz Sharif welcomed Türkiye’s continued support on the Kashmir issue. He also praised Türkiye’s humanitarian aid during disasters. He assured swift implementation of the signed agreements.
Meanwhile, Pakistan’s Commerce Minister Jam Kamal Khan and Turkish Trade Minister Omer Bolat discussed trade expansion. They explored ways to strengthen the Preferential Trade Agreement (PTA) and improve market access.
Trade and Business Expansion
Both nations aim to remove trade barriers and increase exports. Some major trade initiatives include:
- Türkiye plans to import more Pakistani Basmati rice.
- A “Made in Pakistan” expo in Türkiye is under discussion.
- Turkish investors are invited to Pakistan’s Healthcare and Industrial Expo in April.
- Pakistan’s FoodTech Expo in Lahore (February 26-28) will serve as a trade platform.
Additionally, Turkish companies will set up a Special Economic Zone (SEZ) in Pakistan to boost industrial production. Erdoğan encouraged Turkish investors to explore new opportunities in Pakistan’s flagship projects.
Erdoğan’s Visit and Security Measures
Erdoğan’s visit comes at a time when Pakistan faces increased militant activity. To ensure safety, authorities deployed additional security forces, including paramilitary units.
During his visit, Erdoğan will address the Pakistan-Türkiye Business and Investment Forum. This event will bring together top investors from both countries to discuss new business and investment opportunities.
With these agreements, Pakistan and Türkiye are set to enhance economic and defense cooperation. The two nations continue to strengthen their partnership for mutual growth.
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