Islamabad: Pakistan and Turkiye have agreed to enhance cooperation across multiple sectors and work on joint projects to strengthen bilateral economic relations. The understanding to this effect was reached during a meeting between Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, and a high-level Turkish business delegation in Islamabad today.
According to Radio Pakistan, the meeting focused on Pakistan-Turkiye joint ventures, investment opportunities, and facilitation measures for Turkish investors in key industrial sectors. Haroon Akhtar Khan highlighted Prime Minister Shehbaz Sharif’s vision of strengthening ties with brotherly nations. He noted that the current Pakistan-Turkiye trade volume stands at one billion dollars, with the potential to enhance it to five billion dollars.
The Special Assistant on Industries and Production stated that the government of Pakistan will ensure banking facilitation, including Letters of Credit (LCs) and other financial channels, to support Turkish investors. He mentioned that Pakistan is introducing regulatory reforms aimed at improving the ease of doing business and creating an investor-friendly environment.
Khan briefed the participants on Pakistan’s Land Lease Policy, explaining that it provides substantial support to investors looking to set up industries. He added that the National Industrial Policy, prepared under the directives of Prime Minister Shehbaz Sharif, includes comprehensive facilitation measures for both local and foreign investors. Furthermore, a special facilitation committee has been established to support Turkish investment.
The Turkish delegation expressed strong interest in expanding their business footprint in Pakistan, stating that leading Turkish textile brands, including LC Waikiki, are looking to enter the Pakistani market. They also requested support for opening Turkish banks in Islamabad, Karachi, and Lahore to facilitate smoother bilateral trade and investment flows.
Additionally, the delegation conveyed interest in accelerating efforts to operationalize the Istanbul-Tehran-Islamabad Trade Corridor, which is expected to significantly boost regional connectivity.