**Pakistan**: Minister Jam Kamal Khan outlines the potential for economic integration at the Pakistan-Türkiye Business Forum, emphasising upgrades to the Trade in Goods Agreement and highlighting sectors for cooperation, including fintech and digital trade, alongside infrastructural initiatives like the ITI Railway Corridor.
On Thursday, the Federal Minister for Commerce, Jam Kamal Khan, delivered a comprehensive address at the Pakistan-Türkiye Business Forum, emphasising the significant potential for economic integration between the two nations through the Pakistan-Türkiye Trade in Goods Agreement (TGA). The event took place in Pakistan and served as a platform to discuss recent initiatives aimed at upgrading the TGA, alongside exploring opportunities in digital trade and services.
Minister Khan articulated that these upgrades are essential for enhancing economic engagement, stating, “We must work together to establish joint ventures in these areas, facilitating the co-development of high-value products and solutions.” He underscored the importance of aligning industrial strategies, which could lead to increased production efficiencies and enhanced export capabilities, thereby solidifying both countries’ standings in global value chains.
The Minister highlighted key infrastructure initiatives, notably the Islamabad-Tehran-Istanbul (ITI) Railway Corridor, which he described as a means to strengthen trade connectivity and ensure seamless logistical integration. He elaborated on the various sectors where Türkiye excels, such as fintech, information technology, automotive, textiles, and machinery, describing these as unique opportunities for Pakistan to leverage technological expertise and foster transfer of knowledge.
Khan also pointed to the strong camaraderie between Pakistan and Türkiye, stating, “Today, we celebrate the enduring brotherhood between Pakistan and Türkiye—a relationship rooted in history, shared values, and a shared vision for economic prosperity.” Despite acknowledging that the economic ties between the two nations have made significant progress, he insisted that there exists considerable untapped potential. He advocated for deepening sector-specific cooperation, enhancing trade facilitation mechanisms, and creating an investment-friendly ecosystem to fully realise the benefits of their bilateral relations.
He further noted that the competitive workforce in Pakistan, combined with Türkiye’s strategic geographical position, provides an excellent foundation for deeper economic integration. The Minister called for greater engagement through various platforms, including business forums, trade exhibitions, and B2B networking opportunities, to foster long-term partnerships between enterprises from both countries.
In conclusion, Minister Khan reiterated Pakistan’s commitment to creating a conducive environment for investment, particularly through the Special Investment Facilitation Council (SIFC), aimed at streamlining processes for Turkish businesses looking to establish operations in Pakistan. He stressed the importance of enhancing cooperation in emerging fields such as cybersecurity, artificial intelligence, and digital payments as part of navigating the evolving digital landscape, all with a vision for sustained economic growth in the global digital economy.
Source: Noah Wire Services
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