ANKARA: Pakistan and Turkey have signed a deal to increase their bilateral trade volume to five billion US Dollars in coming three years, official said.

The deal signed during a meeting between the Pakistani Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdoğan in Ankara on Wednesday.

Sharif along with a high level delegation, include foreign minister Bilawal Zardari, Defence Khawaja Muhammad Asif, Minister of Commerce Syed Naveed Qamar, special assistant to Prime Minister Fahd Husain arrived in Ankara on Tuesday, where he met with high officials of Turkey.

According to official statement, Sharif  was received by President Recep Tayyip Erdoğan at the Presidential Complex in Ankara on Wednesday and held a one-on-one meeting, which was followed by delegation-level talks between the two sides.

During the extensive talks, the Prime Minister noted that the two countries were marking the 75th anniversary of establishment of diplomatic relations this year. He added that the strength of bilateral relations was rooted in centuries-old bonds of love and affection between the two peoples and a common linguistic, cultural and religious heritage.

"The Prime Minister recalled that the two nations had always stood by each other in times of need and that these fraternal ties had been nurtured by each successive generation. He underlined that the Pakistan-Turkey relationship remained unique and unparalleled in inter-state relations – marked by exceptional trust, understanding and mutual support, said in the statement.

Both leaders exchanged views on strengthening bilateral cooperation in various fields, including trade and investment, and defence.

The Prime Minister underscored the importance he attached to building a robust economic partnership as a central component of the strategic relationship between the two countries. The High-Level Strategic Cooperation (HLSCC) as well as Strategic Economic Framework (SEF), were reaffirmed as vital instruments to promote bilateral cooperation. The two leaders agreed to hold the 7th Session of the HLSCC in Pakistan in September to further carry forward this process.

The Prime Minister noted that he was looking forward to welcoming a trade delegation from Turkey in June 2022. He invited the Turkish side to invest in Pakistan, particularly in the fields of hydel power and renewable energy. The Prime Minister stated that he would ensure that Turkish companies were facilitated in their current and future investment projects.

Thanking Turkey for its consistent and principled support on Jammu and Kashmir dispute, the Prime Minister noted that President Erdoğan’s stance on the issue were a source of strength for the Kashmiris and the people of Pakistan. He thanked the leadership and people of Turkey for their steadfast support for this just cause.

The Prime Minister appreciated Turkey’s contribution towards peace and security in the region and beyond and expressed Pakistan’s support and solidarity with Turkey on issues of core interest.

On Afghanistan, the Prime Minister appreciated Turkey’s humanitarian assistance and constructive engagement. He added that Pakistan, as an immediate neighbour, would continue to stand with the Afghan people and help them in meeting the existing challenges particularly the humanitarian situation and economic fragility. Both sides agreed to continue coordinating with each other for advancing the shared objectives of a peaceful, stable and prosperous Afghanistan.

The Prime Minister lauded President Erdoğan’s efforts to facilitate talks between Russia and Ukraine for a diplomatic solution and stressed the importance that Pakistan attached to the resolution of conflict in Ukraine through dialogue and diplomacy at the earliest possible. The two leaders also discussed challenges to food security in the backdrop of Ukraine crisis and agreed to closely coordinate mitigating measures.

In a ceremony witnessed by two leaders, the two sides signed six bilateral MoUs in the following areas:

Public Debt Management,
Cooperation between credit guarantee institutions for SME financing,
Housing,
Public private partnership models especially in transportation and health,
Knowledge Sharing in economic and social policy planning, and
Technical cooperation in highway engineering.

A Joint Ministerial Statement on Developing Bilateral Trade and Economic Relations was also signed on the occasion, in which the two sides declared their determination to achieve 5 billion US Dollars bilateral trade volume in three years.

On the occasion, a joint logo marking the 75th anniversary of establishment of diplomatic relations was launched. The two leaders agreed that this milestone will be celebrated by the two countries in a befitting manner.

The two leaders addressed the media in a Joint Press Stakeout.

The Prime Minister thanked President Erdoğan for the warm welcome and gracious hospitality accorded to his delegation. Extending a cordial invitation to President Erdoğan, the Prime Minister stated that the people of Pakistan were looking forward to accord him a warm welcome.

Both leaders agreed to remain in close contact with a view to taking Pakistan-Turkey relations to new heights.