Turkish companies will carry out oil and gas exploration in Pakistan’s offshore reserves, Turkish Foreign Minister Hakan Fidan said during an official visit to Islamabad.
Speaking at a joint press conference with Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar on Wednesday, Fidan emphasised Ankara’s intent to deepen economic and energy ties with Islamabad, particularly in strategic sectors.
"Türkiye and Pakistan are working toward increasing their bilateral trade volume to $5 billion," Fidan said. "We are also assessing cooperation in key areas including mining, oil, natural gas, and rare earth elements."
Fidan highlighted an energy agreement signed in April between the Turkish Petroleum Corporation (TPAO) and Pakistan’s national oil companies as a “highly significant step forward” in expanding bilateral cooperation.
Thanks to this agreement, Turkish and Pakistani firms will be able to jointly explore oil and gas in Pakistan’s offshore zones—an unprecedented move in the history of Turkish-Pakistani energy collaboration.
“This is one of the outcomes of the more institutionalised approach we are working to establish,” he added.
A deepening partnership
Ishaq Dar said Islamabad and Ankara agreed to bolster further cooperation in a range of areas, including the economy, defence industry, energy, and infrastructure.
Lauding the Turkish defence industry, Dar said that Islamabad wishes to further strengthen its ongoing strategic and defence industries cooperation and promotion of peace and stability in the region.
The two sides are "actively" engaged in different activities, including capacity building in counterterrorism, said Dar.
Turkish companies will also be participating in the privatisation of distribution companies in the power sector, he added.
Special economic zone
The two sides, Dar said, are pursuing the establishment of a special economic zone dedicated to Turkish entrepreneurs in Karachi and Istanbul.
"We are actively following up on benefiting from Turkish experience and expertise in ship breaking and storage, and efficient use of agricultural water," Dar said.
He said Islamabad and Ankara have agreed to revive the long-dormant joint ministerial commission after a hiatus of 11 years, which will be co-chaired by Pakistan's Commerce Minister Jam Kamal and Turkish Defence Minister Yasar Guler.
"All this work will lay a solid foundation for the eighth high-level Strategic Cooperation Council," which will be held next year in Türkiye, he added.
