Islamabad: Senator Muhammad Aurangzeb, Pakistan’s Minister for Finance and Revenue, met with Turkish Trade Minister H.E. Prof. Dr. Omer Bolat and a business delegation today, discussing ways to enhance the economic and trade relationships between the two countries.
According to Ministry of Finance announcement issued on 08 August 2024, Minister Aurangzeb expressed a warm welcome to Minister Bolat, emphasizing the strong, brotherly relations between Pakistan and Turkey, and the potential for significant bilateral economic growth. The meeting focused on opportunities for increased trade and investment, highlighting various sectors such as services, health, education, medicine, and fashion as key areas for potential Turkish investment.
Minister Bolat conveyed the shared commitment of Turkish President Erdogan and Pakistani Prime Minister Shehbaz Sharif to bolster bilateral ties, proposing specific measures to boost investor confidence and suggesting increased flight connectivity to enhance economic exchanges. He also stressed the importance of facilitating investments for Turkish companies in Pakistan.
In response, Senator Aurangzeb detailed Pakistan’s improving economic indicators, such as stable currency metrics, foreign exchange reserves surpassing $9 billion, and declining inflation rates. He discussed the recent Staff Level Agreement with the International Monetary Fund aimed at securing long-term economic stability and highlighted ongoing reforms in taxation, the energy sector, and state-owned enterprises. Aurangzeb also noted the efforts of the Special Investment Facilitation Council (SIFC) to streamline investment processes and attract foreign direct investment.
Both ministers reaffirmed their commitment to strengthening bilateral relations and increasing trade volumes, with Aurangzeb assuring continued support for easing business operations for international investors, particularly those from Turkey. Minister Bolat expressed gratitude for Pakistan’s hospitality and the constructive outcomes of their discussions. The meeting marks a significant step towards reinforcing economic cooperation and enhancing the strategic partnership between Pakistan and Turkey.