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Pakistan and Turkey Renew Commitment to $5 Billion Trade Goal

Muneeba
Muneeba
Investments Desk
July 5, 2026
2 min read
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A stylized graphic showing Pakistan's Prime Minister Shehbaz Sharif on the left and Turkey's President Recep Tayyip Erdoğan on the right, both wearing dark suits and ties, standing and shaking hands. The flag of Pakistan is visible on the left and the flag of Turkey on the right. They are positioned against a dark background with a large, solid red circle directly behind them.

ISTANBUL — Pakistan and Turkey have renewed their commitment to boost their bilateral trade volume to a previously agreed target of $5 billion. The reaffirmation came during a meeting between Pakistani Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdoğan in Istanbul.

Following bilateral and delegation-level talks, the two leaders addressed a joint press conference, outlining steps to deepen economic ties and unlock the full potential of their strategic partnership. President Erdoğan announced that the trade ministries of both nations are currently working on establishing a dedicated Special Economic Zone for Turkish businesspeople in Karachi. In addition, negotiations are underway to expand the scope of the existing preferential trade agreement between the two countries.

The Turkish leader emphasized Ankara’s desire to enhance cooperation across multiple sectors. Specifically, he identified energy, transportation, critical minerals, and information technology as key areas for future collaboration. Erdoğan also highlighted the defense industry as one of the cornerstones of their economic relations, noting that this cooperation continues to grow through new joint projects.

Prime Minister Sharif’s visit also included an address at the Pakistan-Türkiye Business and Investment Forum. During the event, he invited Turkish companies to expand their investments in Pakistan’s priority sectors, assuring them of an investor-friendly environment supported by the Special Investment Facilitation Council. Sharif praised Turkey’s economic transformation under Erdoğan’s leadership and expressed Pakistan’s intent to draw on Turkey’s experience to boost private-sector-led growth.

Speaking at the same business forum, Turkish Vice President Cevdet Yılmaz revealed that Turkish direct investments in Pakistan have already surpassed $2 billion. He added that Turkish contractors have successfully completed 74 projects in Pakistan, valued at approximately $3.5 billion.

Both leaders expressed satisfaction with the current trajectory of their relationship and reiterated their shared commitment to transforming their historic ties into a stronger, long-term economic partnership.

Muneeba
Written by
Muneeba

Muneeba Zaman is a Karachi-based digital content creator and social media specialist. She creates business, tech, AI, and digital marketing content for Headline Recorder, with a focus on clear storytelling, brand consistency, and creative direction.

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