Economic Relations between Pakistan and Turkey in a Globalized World

Aisha Shahzad ()
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Aisha Shahzad: Lahore College for Women University, Pakistan

Eurasian Journal of Social Sciences, 2019, vol. 7, issue 3, 30-40

Abstract: The phenomenon of globalized world deals with the intensification of integration among states due to interdependence. It requires non-discriminatory trade relations through liberalization and democratization to strengthen global village. Furthermore, the market forces demand the state actors to extend cooperation for fostering economic ties while creating regional harmony. Mutual trade among states bolsters multilateralism and trans-nationalization. These economic patterns reinvigorate globalization. This article illustrates the fundamental pillars of economic globalization based on comparative advantage and relative gains. Multilateral trade under institutional and Gramscian paradigms acknowledges smooth diplomatic ties among state entities. This research provides theoretical parameters regarding the transformation of old trade patterns into new ones. It is perceived that global trade is reinvigorated by shared values of collectivism and universalism. Along with the conceptual framework of globalization, this article explicates the operational dynamics of new spirit of trade relations between Pakistan and Turkey. It contains quantitative methods of descriptive and historical analysis, expert interviews and secondary sources. This research envisions the possible outcomes of regional economic hubs procuring conducive environment for earnest economic integration.

Keywords: Globalization; Comparative Advantage; Cluster Industries; Competitive Advantage; Pakistan; Turkey; Economic Relations (search for similar items in EconPapers)
Date: 2019
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