PM Shehbaz calls for stronger Pakistan-Türkiye economic partnership

ISTANBUL: Prime Minister Shehbaz Sharif on Saturday called for expanded business-to-business cooperation, investment and economic engagement between Pakistan and Türkiye, saying the two countries share a historic relationship that has continued to grow stronger over time.

Addressing the Pakistan-Türkiye Business-to-Business Conference in Istanbul, the prime minister described Türkiye as one of Pakistan’s closest and most dependable allies, saying the relationship was founded on shared history, faith and mutual support.

He said the foundations of the bilateral relationship were laid during Türkiye’s War of Independence, when Muslims of the subcontinent, led by the Ali brothers, supported the Turkish struggle.

“Türkiye has stood with Pakistan in every difficult moment,” the prime minister said, adding that the longstanding bond between the two nations had continued to deepen over the years.

Shehbaz also praised Istanbul as a city linking Asia and Europe, describing it as a symbol of Türkiye’s strategic geographic and economic importance.

The prime minister said Pakistan wanted to benefit from Türkiye’s industrial progress, institutional experience and economic achievements under the leadership of President Recep Tayyip Erdogan.

He noted that Türkiye had made remarkable progress in industrial development and said Pakistan was keen to learn from its experience, particularly in the energy sector, alternative energy, electricity distribution and transmission systems.

Shehbaz said Pakistan welcomed greater Turkish investment in conventional and renewable energy projects, expressing confidence that business-to-business cooperation would continue to expand.

Referring to Pakistan’s reported mediation efforts between the United States and Iran, the prime minister said Türkiye’s support, particularly from President Erdogan, had helped Pakistan facilitate dialogue between the two countries.

He said Pakistan made sincere efforts to promote negotiations and described the diplomatic engagement as a challenging mission.

“By the grace of Allah, a ceasefire was achieved,” he said, adding that the leaders of the United States and Iran had signed a memorandum of understanding through Pakistan’s mediation.

The prime minister said the opportunity created by peace should now be transformed into stronger bilateral cooperation and regional prosperity.

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Touching on Pakistan’s recent security situation, Shehbaz said the country had successfully defended its sovereignty and dignity when conflict was imposed upon it.

He praised the role of the armed forces under Field Marshal Syed Asim Munir, saying Pakistan had responded decisively to aggression. He also thanked Türkiye, Saudi Arabia and other friendly countries for supporting Pakistan during the difficult period.

Earlier, Deputy Prime Minister and Foreign Minister Ishaq Dar met OYAK General Manager and Chief Executive Officer Murat Yalçıntaş and his delegation on the sidelines of the conference.

The two sides reaffirmed their commitment to expanding investment opportunities, strengthening industrial cooperation and exploring new avenues for a strategic economic partnership between Pakistan and Türkiye.

The OYAK delegation appreciated Pakistan’s economic progress and expressed strong interest in expanding investment in the country.

The meeting was attended by the ministers for maritime affairs, energy, petroleum, privatisation and information technology, as well as Pakistan’s ambassador to Türkiye.

Speaking at the conference, Petroleum Minister Ali Pervaiz Malik said Pakistan offered attractive investment opportunities in the oil and gas sector, noting that the country’s energy demand exceeded domestic production. He added that 178 active oil and gas exploration licences had been issued across the country.

Information Technology Minister Shaza Fatima Khawaja said Pakistan had 26,000 registered IT companies, a large freelance workforce and a rapidly growing digital ecosystem. She highlighted the establishment of special technology zones and said the government was promoting a cashless economy and e-governance initiatives.

Energy Minister Awais Leghari said reforms in the power sector had helped reduce system losses and that work was under way to digitalise the national transmission network. He added that the government was also moving forward with the privatisation of electricity distribution companies while offering significant investment opportunities in transmission infrastructure.