Description: On the outskirts of the Islamabad business forum, government officials from Turkey and Pakistan have signed a joint offshore oil and gas exploration agreement. Pakistani Petroleum Minister Ali Pervaiz Malik and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar witnessed the signing between Pakistan’s Mari Energies Limited, and Pakistan Petroleum Limited with the Turkish state-owned enterprise Turkiye Petrolleri Anonim Ortakligi. Pakistan announced a bid for exploitation of 40 offshore blocks in the Makran and Indus basins which prompted high level of foreign direct investment interest by international companies which intent to tap the Pakistani natural resources market.
Impact: Turkey and Pakistan have followed up the signing of a joint strategic partnerships in Feb and indicated a wide variety of cooperation, strengthening bilateral ties. Turkey currently strives for positioning itself as Europe’s security and trade guarantor, while struggling to establish influence and enhance regional dominance in the Middle East through Syria. Pakistan facing security threats such as the Baluchistan separatist movement and the Kashmir dispute with India, is aiming at bolstering multilateral cooperation in order to ensure economic growth while subtly guaranteeing its own safety and stability in return. Both countries would enhance coordination and cooperation in the upcoming years as strategic aspirations rise in the volatile Middle Eastern theater.