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Home Business

Pakistan & Türkiye Sign 24 MoUs to Boost Trade & Defense Ties

by Anum Arif
February 13, 2025
in Business
Reading Time: 2 mins read
0
Pak and Turkey

A new era of Pakistan-Türkiye cooperation begins! President Erdoğan’s historic visit sees 24 agreements signed across trade, defense, and investment. With deeper collaboration ahead, both nations are set for a stronger future together!

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Turkish President Recep Tayyip Erdoğan arrived in Pakistan for a historic two-day visit, receiving a warm welcome from Prime Minister Shehbaz Sharif at the Prime Minister House. Accompanied by First Lady Emine Erdoğan and a high-level delegation, President Erdoğan’s visit marks a new chapter in Pakistan-Türkiye relations.

The visit kicked off with an official welcome ceremony, where both nations’ anthems were played, followed by a ceremonial guard of honor and a special tribute from the Pakistan Air Force. President Erdoğan later met with Pakistan’s Chief of Army Staff, General Asim Munir, further strengthening diplomatic ties.

A significant milestone of the visit was the signing of 24 Memorandums of Understanding (MoUs) across multiple sectors, including trade, media, defense, and healthcare. These agreements aim to boost economic cooperation, investment, and technological exchange.

Key agreements include:
✅ A declaration to enhance strategic relations between Pakistan & Türkiye
✅ An MoU for the exchange of military and civil personnel
✅ A trade agreement between Export Credit Bank of Türkiye & Pakistan’s EXIM Bank
✅ Cooperation in agriculture, hydrocarbon exploration, water resource management, and energy transition
✅ A joint ministerial statement on increasing trade in goods
✅ Collaboration on digital verification of trade certificates

Trade & Investment: Overcoming Barriers

Pakistan and Türkiye are now focusing on resolving banking and shipping issues to increase bilateral trade, which currently stands at $543.4 million—a decline from previous years. Commerce Ministers Jam Kamal Khan and Omer Bolat have pledged to enhance trade through the Preferential Trade Agreement (PTA) and D-8 Economic Cooperation initiatives.

Key trade initiatives discussed:
📌 Türkiye to increase imports of Pakistani Basmati rice
📌 Proposal for a “Made in Pakistan” expo in Türkiye to showcase Pakistani products
📌 Pakistan invites Türkiye to Healthcare & Industrial Expo in April
📌 FoodTech Expo in Lahore (Feb 26-28) to boost trade ties

Defense & Industrial Cooperation

Pakistan and Türkiye have agreed to enhance defense collaboration through joint production and technology exchange. Turkish companies are also set to increase investments in Pakistan’s infrastructure, manufacturing, and media industries.

As Turkish exhibitions in Istanbul begin replacing European markets, Pakistani businesses see new export opportunities in fashion, furniture, and industrial sectors.

Prime Minister Shehbaz Sharif praised Türkiye for its unwavering support during Pakistan’s difficult times, including the devastating floods. He reaffirmed that President Erdoğan’s visit would elevate Pakistan-Türkiye relations to new heights.

With both nations reaffirming their commitment to deepening cooperation, this visit is expected to open new economic and diplomatic pathways for long-term collaboration.

Tags: BilateralTiesDefenseCooperationPakistanTürkiyeRelationsRecepTayyipErdoganShehbazSharifTradeAgreements

Anum Arif

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