Pakistan and Turkey to Shore up Strategic Economic Ties

 
 
 
pakistan and turkey to shore up strategic economic ties

Pakistan and Turkey have a positive and traditionally strong relationship, maintaining extensive cultural, commercial, strategic, and military cooperation over the years. Turkey established diplomatic ties soon after Pakistan’s independence in 1947, and bilateral relations became very close due to the pair’s cultural, religious, and geopolitical links.

Turkey has also begun to play a prominent role in Pakistan’s foreign policy, especially in security and defence cooperation. Both the countries have maintained long-standing military ties with each other. Turkey has trained Pakistan Airforce officers to upgrade its F-16 fleet and purchased minor aerial weapons and components from Pakistan. The two nations are strengthening economic ties with a Pakistan Turkey Free Trade Agreement that aims to raise bilateral trade volume between the two countries.

Furthermore, the Road Transport Joint Commission between the two countries is working on regulating road transport. Also, both the countries have signed a citizenship agreement to facilitate the movement of tourists and business personnel.

Moreover, both countries are trying to create more people-to-people exchanges, such as student exchange programs, conferences focused on public-private partnerships, and workshops to encourage start-ups.

Recently, both the countries have vowed to enhance their strategic and economic relations and agreed to take measures to eliminate terrorism. In this context, the two sides signed six bilateral memoranda of understanding on 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.

Turkey has agreed to help Pakistan in helicopter manufacturing to enhance defence cooperation further. The government has invited Turkey investors to invest in Pakistan’s hydropower and renewable energy sector to enhance bilateral cooperation in other fields. These initiatives will boost cultural, economic, diplomatic, and strategic ties between countries.

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IMARAT Institute of Policy Studies

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