Pakistan-Turkiye B2B conference: PM Shehbaz highlights energy, investment opportunities for Turkish businesses

WEB DESK: Prime Minister Shehbaz Sharif on Saturday said Pakistan and Türkiye share a longstanding and historic relationship that has grown stronger over time, as he called for expanded business-to-business cooperation, investment and economic engagement between the two countries.

Addressing the Pakistan-Türkiye Business-to-Business Conference in Istanbul, the prime minister described Türkiye as one of Pakistan’s most sincere and dependable allies, saying the relationship between the two countries was rooted in shared history, faith and mutual support.

He said the foundations of the relationship were laid during Türkiye’s war of independence, when Muslims of the subcontinent, led by the Ali brothers, supported the Turkish struggle.

“Türkiye has stood with Pakistan in every difficult moment,” the prime minister said, adding that the two countries’ bond had continued to deepen over the years.

PM Shehbaz also praised Istanbul as a city that connects Asia and Europe, saying it reflected Türkiye’s geographic and economic importance.

The prime minister said Pakistan wanted to benefit from Türkiye’s industrial progress, institutional experience and economic achievements under the leadership of President Recep Tayyip Erdogan.

He said Türkiye’s industrial landscape had undergone significant transformation and Pakistan was keen to learn from its development model, particularly in the energy sector, alternative energy, electricity distribution and transmission systems.

Pakistan, he said, would welcome greater Turkish investment in conventional and renewable energy projects, adding that business-to-business cooperation would become more effective with time.

Referring to Pakistan’s reported mediation efforts between the United States and Iran, Shehbaz said Türkiye’s support, particularly that of President Erdogan, had helped Pakistan play a role in the negotiations.

He said Pakistan had made sincere efforts to facilitate dialogue between the two sides and described the diplomatic engagement as a difficult mission.

“By the grace of Allah, a ceasefire was achieved,” he said, adding that the leaders of the United States and Iran had signed a memorandum of understanding through Pakistan’s mediation.

The prime minister said it was now important to make full use of the opportunity created by peace and convert it into broader bilateral cooperation and regional prosperity.

He also referred to Pakistan’s recent security situation, saying the country had defended its sovereignty and dignity when conflict was imposed on it.

Shehbaz praised the role of the armed forces under Field Marshal Syed Asim Munir, saying Pakistan had responded firmly to aggression. He added that Türkiye, Saudi Arabia and other friendly countries had supported Pakistan’s position during the difficult period.

Ministers reaffirm ties

Earlier Deputy Prime Minister and Foreign Minister Ishaq Dar also met with OYAK General Manager and CEO Murat Yalçıntaş and his delegation on the sidelines of the Pakistan-Turkiye Business Conference.

During the meeting, the two sides reaffirmed their commitment to expanding investment opportunities, strengthening industrial cooperation, and exploring new avenues for a strategic economic partnership between Pakistan and Turkiye. The OYAK CEO and his team appreciated Pakistan’s economic growth and development, expressing strong interest in expanding investment in the country.

The meeting was also attended by the Maritime Affairs Minister, Energy Minister, Petroleum Minister, Privatisation Minister, IT Minister, and Pakistan’s Ambassador.

Meanwhile, key federal ministers addressed the top business community of Turkey, sharing with them vast investment opportunities in Pakistan’s energy, petroleum and information technology sectors while addressing the Pakistan-Turkiye B2B Conference.

Federal Minister for Petroleum Ali Pervaiz Malik said Pakistan offers attractive investment prospects in the oil and gas sector, noting that the country’s energy demand is significantly higher than domestic production. He added that 178 active oil and gas exploration licences are currently issued in the country.

IT Minister Shaza Fatima Khawaja said 26,000 IT companies are registered in Pakistan, with a large freelancer base and a growing digital ecosystem. She said special technology zones have been established, while Pakistan has around 200 million mobile users. She added that the prime minister is focusing on promoting a cashless economy and e-governance.

Energy Minister Awais Leghari said reforms in the power sector have helped reduce losses, adding that work is underway on the digitalisation of the transmission system. He said efforts are also being made to privatise distribution companies, while significant investment opportunities exist in transmission infrastructure.