Friday, 07 October 2022, 09:18:17 pm
Analysts hail signing of Preferential Trade Agreement between Pakistan and Turkey
August 12, 2022

Mirza Ishtiaq Baig (Economist): It is a very historical visit of Turkish Minister for Trade Mehmut Mus. It is a great development that Pakistan and Turkiye have signed preferential trade agreement. It will help increase our exports to Turkiye. Prime Minister Shehbaz Sharif said the agreement will help increase the bilateral trade of the two brotherly countries by five billion dollars in next three years. The biggest challenge that Pakistan is facing right now is trade deficit and current account deficit. Only increase in exports can help us bridge both deficits. Tariff of Pakistani exports to Turkiye will now be lower in comparison with other countries, enhancing our exports. It will help us earn valuable foreign exchange that is good for the national economy.

Furqan Hameed (Head of TRT Urdu service, Turkiye): This trade agreement was long awaited. But the Shehbaz Sharif-led incumbent government, with their vast experience in bringing foreign investment into the country, achieved the milestone for the betterment of Pakistan. Both the countries have settled the target of increasing bilateral trade volume to $5 billion in the next three years. Turkiye has already invested a lot in Pakistan, so this agreement will benefit both Islamabad and Ankara. The relations among both the countries are exemplary, like the Prime Minister said, one nation living in two countries. The trade and economic relations between Pakistan and Turkey would strengthen through joint collaboration and commitment. Pakistan and Turkey can work together to accomplish great milestones and achievements.

Aslam Chandio (News Editor, TRT WORLD, Istanbul): This development is as significant for us as it is for Turkiye. Pakistan and Turkiye have been enjoying strong brotherly relations for the last many decades. The relationship between the two countries is embedded deep into history and shaped by shared goals. These ties transcended times and span over many generations. Therefore, this trade agreement is a milestone in the brotherly and historic relations between Pakistan and Turkiye.  The trade agreements between both the countries have been increasing simultaneously. There are immense business opportunities existing between the two countries and this agreement will further explore the trade avenues in diverse sectors. Pakistan is looking forward to continuing working with Turkiye on strengthening bilateral ties.