Business partnerships should complement the strong political relations between Türkiye and Pakistan, Khawaja Khurram Naeem, the Consul General of Pakistan in Istanbul, said on Thursday, also pointing to the potential of the Pakistani economy and a push to encourage investment and growth.

“We strongly believe that government-to-government cooperation must be complemented by the robust business-to-business engagement,” Naeem said in an address to the “Global Excellence Award Ceremony,” organized by the Islamabad Chamber of Commerce and Industry (ICCI) in Istanbul.

Starting his speech, the consul general noted that the close relationship between Türkiye and Pakistan, two brotherly countries, is “based on a shared history, mutual trust, and a common vision for economic prosperity.”

He added that the business forum provided an important opportunity to further strengthen commercial and investment ties between the two nations.

Pointing to positive developments in Pakistan's economy, Naeem said the Islamabad government has taken important steps to encourage investment and create a more business-friendly environment.

“The government's commitment to gradually reducing the corporate tax rate to a more competitive level demonstrates the determination to encourage investment and economic growth,” he added.

He also went on to highlight the potential for regional cooperation involving Türkiye, Pakistan and Central Asia amid the changing geopolitical landscape.

Naeem said Pakistan has particularly significant potential in the textile and ready-made garment sectors, while also noting that the country has extensive production capacity and a young population.

“Sustainable economic growth can only be achieved through active cooperation between the private sectors of both countries, reciprocal visits, and the establishment of long-term partnerships,” he said.

Naeem invited business representatives to explore new opportunities, forge new connections, and develop mutually beneficial partnerships through the forum.

In his speech, Naeem also thanked all the institutions that contributed to organizing the event, particularly the Islamabad Chamber of Commerce and Industry and the Istanbul Chamber of Commerce (ITO), and other Turkish partners, and expressed hope that economic activities between Pakistan and Türkiye would continue to grow stronger.

At the event, the business leaders recalled that the current bilateral trade volume between Türkiye and Pakistan of around $1.2 billion is relatively modest and urged for more steps, including more B2B meetings and reciprocal visits, to elevate the cooperation.