UPDATE - Türkiye's bilateral trade with Pakistan reached historical high in 2024, says President Erdogan

UPDATES WITH MORE REMARKS FROM TURKISH PRESIDENT ERDOGAN

By Seda Sevencan and Mucahithan Avcioglu

ISTANBUL (AA) — The bilateral trade volume between Türkiye and Pakistan reached its highest level in 2024, Turkish President Recep Tayyip Erdogan announced on Thursday.

The trade volume rose by nearly 30% year-on-year in 2024 to reach $1.4 billion.

"However, we are still far behind our trade volume target of $5 billion. Undoubtedly, we all have a role in realizing our potential," Erdogan announced, addressing the Türkiye-Pakistan Business Forum in the Pakistani capital Islamabad.

“In this direction, I believe that expanding the scope of our Preferential Trade Agreement and evolving it towards a Free Trade Agreement will lead to a stable and balanced increase in trade volume.”

"Türkiye and Pakistan are the two countries that can contribute most to peace, tranquility, and development of the region in many areas, if they work shoulder to shoulder," he added.

"It is also important that we develop combined freight transportation, diversify our transportation options, and make progress, especially on road and rail. It will be in the interest of our entire region to evaluate the projects that we can realize with a holistic perspective on the common corridor, China-Pakistan Economic Corridor and development road routes, such as the reactivation of the Islamabad-Tehran-Istanbul Freight Train Line," he noted

Regarding the current situation in Gaza, Erdogan said: "I sincerely believe that alliance of humanity, especially Arab and Islamic world, won't leave Gazans alone and unprotected during this critical period."

President Erdogan and Turkish officials are on a four-day Asia tour in which Pakistan is the third stop after Malaysia and Indonesia.