Pakistan and Turkiye have pledged to continue efforts towards achieving a bilateral trade volume of $5 billion, Radio Pakistan reported on Thursday.

The Turkish president arrived in Islamabad shortly after Thursday midnight and was received by the premier and President Asif Ali Zardari in Rawalpindi.

Today, he was welcomed warmly with a guard of honour upon his arrival at the Prime Minister’s House in Islamabad for talks with PM Shehbaz, state-run Radio Pakistan reported. A contingent of the armed forces presented a guard of honour to the visiting dignitary, with the national anthems of both countries also played.

During a high-level meeting, the Turkish President said that both countries considered expanding the scope of their current goods trade agreement in the first stage, according to Radio Pakistan.

“Turkish investors will be encouraged to engage more in Pakistan and develop flagship projects,” Erdogan told reporters after the meeting. “Our military dialogue and cooperation in the defence industry have grown our trade and investment relations exponentially.”

Erdogan said that both sides reaffirmed their determination to advance projects and potential areas of cooperation including procurement, sales and joint manufacturing.

The Turkish president expressed confidence that the 24 agreements signed with Pakistan today will “prove beneficial for the two countries and the region”.

Addressing the Pakistan-Turkiye Business Forum in Islamabad, the PM said that both nations had pledged to ensure bilateral trade worth $5bn. “We had committed that together, we will achieve a target of $5bn volume in bilateral trade, but unfortunately it is a long way to go,” he said in his speech.

“Today we signed various MoUs and agreements but the more important point is that we need to convert them from paper to action. In that, I am fully committed to supporting all your efforts,” PM Shehbaz said, addressing Pakistani and Turkish businesspeople.

The prime minister sincerely apologised for any “undue inconvenience” experienced by Turkish investors, refusing to delve into details to avoid “political point scoring”.

“Some of our Turkish businessmen who came to Pakistan with a great sense of commitment … did that investment and both sides benefitted, but at the end of the day, some were given undue inconvenience and we are extremely sorry for that. It should not have happened and it shall not happen ever again,” Shehbaz pledged.

“I want to ensure my Turkish investors and businessmen that like in the past, or more than ever before, I will be there and my team will be there to facilitate you and assist you in investing, importing from and exporting to Pakistan,” the PM continued. “In that respect, I will act as a CEO of Pakistan as far as Turkish businessmen are concerned.”

Earlier, Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan signed several agreements in various domains to strengthen bilateral relationships between their nations.

Speaking after the agreements-signing ceremony, PM Shehbaz said, “On behalf of the people of Pakistan, my government and myself, would like to extend a heartfelt welcome to Pakistan, to your second home. It is wonderful to have you after five years.”

He continued: “The people of Pakistan are extremely happy today to see you along with your delegation, visiting your brotherly country.”

The prime minister thanked Turkiye for standing by Pakistan “through thick and thin, during earthquakes and floods”.

“Your visit to Pakistan today has given a new level to our brotherly relations,” PM Shehbaz said.

President Erdogan expressed his gratitude to PM Shehbaz for the warm welcome and said, “In the seventh session of our council, which we just concluded, we have agreed to further strengthen our relation.

“Within the framework of this visit, we have signed a total of 24 agreements and MoUs (memoranda of understanding) in the fields of trade, water resources, agriculture, energy, culture, family, and social services, along with science, banking, education, defence, and health.”

He added: “Before the council meeting, my brother Shehbaz Sharif and I not only discussed our bilateral relations, but also regional and global developments, extensively.”

Erdogan was also greeted at the PM House by Chief of Army Staff (COAS) General Asim Munir, with both of them shaking hands. The Turkish president was also presented with a salute comprising various fighter jet formations, including three F-16 aircraft.

Prior to that, the prime minister introduced his cabinet members to the Turkish president, including Deputy PM and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Law Minister Azam Nazeer Tarar, Education Minister Khalid Maqbool Siddiqui, Commerce Minister Jam Kamal Khan, Information Minister Attaullah Tarar, and Minister of State for IT Shaza Fatima Khawaja.

Standing in the same queue were members of the visiting Turkish delegation, whom President Erdogan introduced to PM Shehbaz. Erdogan and the prime minister also planted a sapling at the PM House.

According to DawnNewsTV, several cultural dance performances were organised as Erdogan’s motorcade passed by Constitution Avenue in Islamabad, which has been adorned by flags of both countries and banners hailing the friendly ties between them.

The government has also prepared a song in praise of the Turkish president, which was aired on various TV channels following the welcome ceremony.

Erdogan later met Zardari at the Presidency, reaffirming bilateral cooperation in fields including energy, trade and tourism.

According to a statement issued by the President’s Office, Zardari welcomed his Turkish counterpart and stressed the importance of Erdogan’s visit and strengthening bilateral relations.

“Pakistan has a conducive environment for investment,” Zardari was quoted as saying in the statement. “Pakistan is keen on Turkish businesses to invest more in the Pakistani stock market and key sectors of the economy.”

The statement added that both presidents also discussed Syria and the crisis in Gaza during the meeting.

“I will continue to encourage Turkish companies to invest in Pakistan,” Erdogan was quoted as saying, stressing the need to increase people-to-people contacts in order to “pass on the Pak-Turkiye friendship to future generations”.

The visit marked the final leg of President Erdogan’s overseas tour, which included stops in Malaysia and Indonesia.

A Foreign Office statement released earlier said that the visit of the Turkish president — accompanied by a high-level delegation, including ministers, senior officials, and corporate leaders — would last from Feb 12 to 13.

Defence cooperation remains a key pillar of Pakistan-Turkiye relations. According to the 2023 Stockholm International Peace Research Institute (SIPRI) report, Turkiye is Pakistan’s second-largest arms supplier, accounting for 11pc of its total arms imports.

The defence partnership has grown significantly, with joint projects such as the Milgem warships, aircraft modernisation, and drone acquisitions deepening military collaboration.

Both countries have historically faced arms embargoes from Western suppliers, prompting investments in indigenous defence production. Turkiye, now a major arms exporter, views Pakistan as a strategic partner for co-production and technology transfer.

High-level military engagements, joint training programmes, and defence manufacturing agreements are expected to be key discussion points.

Erdogan’s visit comes amid Turkiye’s expanding regional influence, particularly following the shifting geopolitical landscape in the Middle East after the fall of Syrian President Bashar al-Assad.

This transformation presents new strategic and economic opportunities for Pakistan, including potential collaboration in Syria’s post-conflict reconstruction and counterterrorism efforts.

Turkiye’s strong advocacy for Muslim causes, particularly on Palestine and Kashmir, aligns with Pakistan’s foreign policy objectives. The two leaders are expected to discuss regional security concerns, the humanitarian crisis in Gaza, and broader political coordination in international forums.

With both countries looking to expand their Strategic Economic Framework (SEF), the visit is expected to facilitate negotiations on digital trade and trade liberalisation, and further tariff concessions under the Trade in Goods Agreement (TGA).

Per the FO statement, PM Shehbaz and President Erdogan would also co-chair the 7th session of the Pakistan-Turkiye High-Level Strategic Cooperation Council (HLSCC) session. The council’s last session was held in Islamabad on Feb 13-14, 2020.

Additional reporting by Nadir Guramani.