The Turkish-Pakistani Economic and Investment Forum was held with the participation of Pakistan Prime Minister Shahbaz Şerif, Vice President Cevdet Yılmaz, Trade Minister Ömer Bolat, Industry and Technology Minister Mehmet Fatih Kacır, Energy and Natural Resources Minister Alparslan Bayraktar and many guests.
At the forum, Bolat explained that the bilateral trade volume between Turkey and Pakistan is $1.2 billion to $1.3 billion and that economic relations are not limited to trade only; He explained that it has developed in many areas, especially in investment, trade in services, cooperation in the energy sector and partnerships between SMEs.
Bolat announced that the Ministry of Commerce continues technical negotiations to expand the goods trade agreement between the two countries, which came into force in May 2023, to include more products.
Explaining that they see significant potential in many areas, especially iron and steel, automotive parts, plastics, electronic consumer goods, machinery, medical devices and industrial products, Bolat said: “We plan to conduct negotiations in the areas of services, investment and digital economy and industrial trade in the coming period.” he said.
Noting that Turkish investments in Pakistan have exceeded $2 billion, Bolat stated that the increase in mutual investments will increase the trade volume between the two countries and that this is also reflected in economic relations with many countries.
Bolat said:
“We will also further develop our cooperation in the fields of information technologies, defense industry, digital economy and engineering. Meetings of the High-Level Council for Strategic Cooperation are held regularly every year. The meeting that was held in Pakistan last year will be held in Türkiye this year. Meetings of the Joint Economic Commission are also held regularly every year. In addition, Turkey and Pakistan have been rapidly developing their economic and trade relations under the Preferential Trade Agreement since May 2023.”
The great interest and participation of the Turkish and Pakistani business community in the forum clearly shows the importance attached to economic relations between the two countries. “Under the leadership of Prime Minister Shahbaz Sharif, Pakistan is taking decisive steps towards its goals of strengthening political stability, ensuring economic stability and rapid development.”
Minister Bolat said: “Seeing this picture is truly gratifying for us brothers and sisters. Turkey has continued its rapid development in line with the goals of the Türkiye Century under the leadership of our President over the past 23 years.” he said.
“Türkiye has increased its national income in dollars and its national income per capita six times over the past 23 years.”
Trade Minister Bolat stated that Türkiye has increased its national income and per capita income six times in US dollars over the past 23 years, reaching a national income of $1.6 trillion and a per capita national income of $18,000.
Bolat said that according to data announced yesterday, they exported goods worth $136 billion in the first six months of the year, an increase of 3.6 percent, and that exports of goods reached $278 billion in the last 12 months.
Bolat stated that Türkiye reached the record export level of $400 billion for the first time, taking service exports into account.
Bolat stated that Turkey and Pakistan will enhance the welfare of friendly and brotherly peoples and increase their weight and share in the world economy by joining forces in all areas, noting that the joint efforts of the leaders of the two countries and their foreign organizations in world affairs and regional peace have yielded satisfactory results.
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