Turkiye Looks to Bolster Economic Ties with Pakistan

Lahore: The Ambassador of Turkiye, Irfan Neziroglu, emphasized the potential for strengthening economic and trade relations between Turkiye and Pakistan during a meeting at the Lahore Chamber of Commerce and Industry (LCCI). With a focus on sectors such as defense, tourism, business, agriculture, and higher education, Turkiye aims to enhance its cooperation with Pakistan, tapping into historical and cultural connections.

Ambassador Neziroglu urged both nations to work collectively and leverage their historical ties to boost trade. He emphasized the need for a unified approach to achieve common goals, citing significant potential for growth in economic exchanges between the two countries.

LCCI President Mian Abuzar Shad expressed gratitude to Turkiye for its unwavering support during challenging times. He highlighted the Preferential Trade Agreement signed in 2022 as a catalyst for expanding trade, which has led to increased exports and imports between the two nations.

Shad noted that Pakistan’s exports to Turkiye rose from $323 million in 2022-23 to $335 million in 2023-24, with imports increasing from $478 million to over $491 million in the same period. He expressed optimism about continuing this positive trend, aiming to raise the total trade volume to at least $5 billion.

The meeting also addressed the significant trade potential in sectors like leather, rice, mangoes, and engineering goods. LCCI leaders stressed the importance of organizing trade delegations and exhibitions to further enhance ties, expressing their readiness to collaborate with Turkish chambers of commerce under the ambassador’s guidance.

As Turkiye’s global trade continues to grow, with exports surpassing $260 billion and imports nearly $344 billion in 2024, both nations are eager to capitalize on their strong diplomatic relations to achieve mutual economic benefits.