Karachi: In a significant move to bolster bilateral relations, Pakistan and Turkey have signed 21 new agreements and memorandums of understanding, enhancing cooperation across key sectors. Malik Khuda Bakhsh, President of the Pakistan Business Forum's Karachi Chapter, expressed optimism that these agreements would not only fortify trade and investment connections but also facilitate the implementation of the Pakistan-Turkey Preferential Trade Agreement.

According to a statement by Pakistan Business Forum, Malik Khuda Bakhsh welcomed Turkish President Recep Tayyip Erdogan's visit to Pakistan, highlighting it as a pivotal moment for both nations. He noted that under Prime Minister Shehbaz Sharif's leadership, Pakistan is witnessing a surge in trade relations with various countries, including Turkey, the United States, and European nations.

Malik Khuda Bakhsh also underscored the deep-rooted ties between the people of Pakistan and Turkey, emphasizing the mutual respect shared by both nations. He pointed to the growing interest of Turkish companies in investing in Pakistan, particularly in the energy sector, with significant foreign investment earmarked for electric vehicle infrastructure development.

He further elaborated on the potential revival of the D-8 Preferential Trade Agreement, attributing it to the strong rapport between President Erdogan and Prime Minister Sharif. The agreements signed are expected to enhance defense cooperation, technology exchange, and joint production initiatives, promising tangible benefits for both countries in the future.