Pakistan and Türkiye Strengthen Economic Ties with Ambitious Trade Goals
During the 16th Joint Ministerial Commission meeting in Islamabad, Pakistan and Türkiye committed to enhancing their economic partnership by targeting a bilateral trade volume of $5 billion. The talks covered 24 sectors, including trade, energy, education, and health. Notable agreements included the revival of the Istanbul-Tehran-Islamabad railway corridor and a focus on maritime collaboration. Both nations also agreed to foster cooperation in digital trade, agriculture, and finance, alongside establishing working groups for various energy initiatives.
Theia Market Signal Identification - AI AssistedIn a significant move to bolster economic collaboration, Pakistan and Türkiye have reaffirmed their commitment to enhance bilateral trade, aiming for a target volume of $5 billion. This decision emerged from the 16th Joint Ministerial Commission (JMC) meeting held in Islamabad on September 8-9, co-chaired by Pakistan's Federal Minister of Commerce Jam Kamal Khan and Türkiye's National Defense Minister Yaşar Güler.
Prior to the formal session, both nations engaged in extensive consultations across various ministerial and institutional levels, culminating in a comprehensive draft protocol that laid the groundwork for collaboration in multiple sectors. The JMC discussions encompassed 24 key areas, including trade, investment, energy, information technology, finance, education, health, tourism, labor, and climate change.
Among the most notable outcomes was the agreement to initiate in-person negotiations for a trade in goods agreement slated for October 2025, alongside a mutual commitment to strengthen business-to-business ties and streamline customs cooperation. The revival of the Istanbul-Tehran-Islamabad railway corridor and the acceleration of the proposed Trans-Pakistan transport corridor were also highlighted as pivotal projects aimed at enhancing regional connectivity.
In the realm of energy, both countries expressed a desire to form sub-working groups to explore collaboration in renewable energy, hydrocarbons, hydrogen, liquefied natural gas, and electric vehicle infrastructure. Further cooperation was pledged in electricity distribution and hydropower development, indicating a multifaceted approach to energy security.
The discussions extended into digital transformation and industrial modernization. Pakistan and Türkiye plan to organize an IT business forum, promoting small and medium-sized enterprise (SME) collaboration under a memorandum of understanding with both nations' relevant organizations. In agriculture, the two countries will work together on livestock health, irrigation, fisheries, and developing digital crop surveillance systems.
Financial cooperation was another focal point, with agreements to explore the presence of Turkish banks in Pakistan and strengthen Islamic and digital finance. The nations also committed to finalizing a memorandum of understanding on labor cooperation that encompasses labor rights, women's employment, child protection, and social security sustainability.
The operationalization of the Pakistan-Türkiye Textile Technology Centre at NTU Faisalabad and the expansion of academic and vocational exchange programs were also discussed. A dedicated working group for youth and sports cooperation was proposed, alongside enhanced engagement in tourism, healthcare, and heritage conservation.
The Ministry of Economic Affairs expressed optimism regarding the renewed momentum in Pakistan-Türkiye economic relations, emphasizing the importance of timely implementation of the commitments made during this session. The outcomes of the JMC reaffirm the shared vision of both nations to establish a deeper, broader, and more strategic economic partnership.
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