ISLAMABAD: Pakistan urged Turkish companies on Tuesday to explore medium- to long-term investment partnerships as its economy shows signs of stabilization after years of crisis, according to an official statement released after the launch of a bilateral economic cooperation report in Istanbul.
Pakistan endured a prolonged period of economic turmoil in recent years that saw its foreign currency reserves plunge, the national currency weaken sharply and inflation peak at nearly 38 percent in mid-2023.
However, the situation improved as the country started implementing structural reforms recommended under a loan program with the International Monetary Fund, aimed at restoring macroeconomic stability. The adjustments helped moderate inflation into single digits, rebuild reserves and prompt upgrades to Pakistan’s sovereign credit outlook by major rating agencies.
Pakistan’s envoy to Türkiye highlighted these factors while addressing Turkish businesses at the ceremony.
“Ambassador of Pakistan to Türkiye, Dr. Yousaf Junaid outlined Pakistan’s phenomenal economic stabilization, including improved currency stability and investor-friendly reforms by the current government,” the country’s embassy in Ankara said in a statement.
“Ambassador Junaid highlighted investment opportunities in livestock, dairy, renewable energy and the housing sector and encouraged Turkish companies to explore medium- to long-term partnerships in Pakistan,” it added.
Pakistan and Türkiye have collaborated closely at the government-to-government level, particularly in defense and security. Islamabad is acquiring four corvettes from Türkiye, with two being built at the Karachi Shipyard with Turkish technical support. Pakistan has shown interest in Turkish-built armed drones and worked with Ankara on avionics, propulsion and battlefield surveillance systems.
Last month, officials from both sides discussed expanding cooperation in the energy sector, including deep-sea drilling and exploration, as Pakistan seeks foreign investment to help develop its oil, gas and mining sectors.
The initiative aims to ease severe energy shortages, reduce reliance on imported fuels and exploit underexplored reserves.











