Türkiye, Pakistan eye $5B trade target at Istanbul business forum
Turkish Vice President Cevdet Yilmaz said Ankara and Islamabad aim to increase bilateral trade to $5 billion during a high-level forum in Istanbul, telling attendees that last year's $1.2 billion figure remains far below the potential of their decades-long partnership and that the target should be considered modest.
Turkish Vice President Cevdet Yilmaz on Saturday called for transforming the "brotherly" ties between Türkiye and Pakistan into a robust economic partnership, telling a business forum in Istanbul that the $5 billion trade target set by the two countries' leaders should be viewed as a starting point rather than a ceiling.
Strategic trade targets
Speaking alongside Pakistani Prime Minister Shehbaz Sharif at the Türkiye-Pakistan Business and Investment Forum, Yilmaz said the friendship between Ankara and Islamabad has always rested on "strong emotional bonds." "Now we must make this friendship equally strong in trade, investment, technology and production," he said, adding that the $5 billion goal agreed by President Recep Tayyip Erdogan and Sharif could be raised further as ties deepen.
Yilmaz noted that Turkish direct investments in Pakistan have already exceeded $2 billion, with Turkish contractors completing 74 projects worth roughly $3.5 billion across the country. He welcomed a proposal to establish a dedicated zone for Turkish investors within the Karachi Industrial Park, stating that such a move could add a "new strategic dimension" to the partnership.
Sectoral cooperation
The two sides identified automotive manufacturing, agricultural technologies, food processing, medical devices, renewable energy, information technology, e-commerce, defense industry, shipbuilding, tourism, and film production as priority areas for expanded collaboration. Turkish Industry and Technology Minister Mehmet Fatih Kacir, Trade Minister Omer Bolat, and Energy Minister Alparslan Bayraktar joined the discussions alongside their Pakistani counterparts and business delegations from both nations.
'Most loyal allies'
Sharif described Türkiye as one of Pakistan's "most loyal allies" and praised Ankara's consistent support for Islamabad. He urged participants to convert the forum's discussions into concrete outcomes, saying the two countries must act swiftly to channel their political friendship into deeper economic cooperation.
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