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Arab News
09-07-2025
- Business
- Arab News
Pakistan, Türkiye aim to boost trade to $5 billion, deepen energy and defense ties
ISLAMABAD: Pakistan and Türkiye on Wednesday announced plans to expand bilateral trade to $5 billion and deepen cooperation in energy, defense, and strategic infrastructure, as senior ministers from both nations met in Islamabad amid growing regional instability. Turkish Foreign Minister Hakan Fidan and Defense Minister Yaşar Güler arrived in Pakistan late Tuesday for high-level discussions with political and military leaders. The visit, described by Pakistan's foreign office as a sign of 'deepening strategic ties,' included consultations on regional stability, trade expansion, and defense modernization. At a joint news conference with Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar, the Turkish foreign minister said both sides were committed to strengthening what has long been a close bilateral partnership. 'Economy, energy, defense industry, education and culture are areas where we are extending our cooperation each day,' Fidan said. 'The joint working groups under the High-Level Strategic Cooperation Council — from defense, from energy, from education — are all working in a very productive manner.' 'We are aiming to increase our commercial relations to $5 billion,' he added. 'In the field of energy, we are intensifying joint activities in mining and also in precious stones, as well as natural gas and the oil sector.' Fidan highlighted a recent agreement signed in April between Turkish Petroleum Corporation (TPAO) and a Pakistani state-owned firm to explore offshore oil and gas, calling it a 'preliminary step toward broader structural cooperation' in the energy sector. On defense cooperation, Fidan described joint initiatives as 'a strategic step for the security of both countries,' noting that multiple projects in defense manufacturing and technology were already underway. ECONOMIC ZONE, RAIL REVIVAL Speaking at the joint press conference, Deputy PM Dar announced several new initiatives aimed at increasing Turkish investment in Pakistan. 'We are pursuing establishment of a Special Economic Zone dedicated for Turkish entrepreneurs in Karachi,' he said, adding that Pakistan was working to revive the long-dormant Istanbul–Tehran–Islamabad freight train, which was once seen as a key transnational trade route linking South Asia with Europe. 'Our delegations are meeting in coming weeks to finalize the roadmap for its revival,' he said. Dar added that Turkish companies were being considered for major upcoming infrastructure and energy projects, including the Jinnah Medical Complex, Danish University, offshore drilling operations, and privatization of electricity distribution companies (DISCOs). The deputy PM said the two nations had also agreed to revive the long-dormant Joint Ministerial Commission after 11 years and the Pakistani minister of commerce and the Turkish minister of defense would be co-chairing a joint session of the Commission in coming weeks. 'All this work will lay a solid foundation for the 8th High-Level Strategic Cooperation Council, which will be held next year in Türkiye and co-chaired by the Honourable President of Türkiye [Recep Tayyip Erdoğan] and the Prime Minister of Pakistan [Shehbaz Sharif],' Dar said. DEFENSE TIES In a separate engagement, Turkish Defense Minister Yaşar Güler met with Pakistan's Air Chief Marshal Zaheer Ahmed Baber Sidhu at the Air Headquarters in Islamabad to assess the state of bilateral defense cooperation and discuss emerging regional threats. According to Pakistan's military media wing, Inter-Services Public Relations (ISPR), both sides agreed to set up joint working groups to deepen collaboration in aerospace technologies, advanced training, and new domains of warfare. Güler praised the operational readiness of the Pakistan Air Force, particularly during its recent conflict with India, and expressed interest in expanding industry-to-industry partnerships. He also emphasized the importance of joint ventures in disruptive technologies, including unmanned aerial systems, advanced avionics and pilot exchange programs. Both parties pledged to enhance joint air exercises and finalize plans for more intensive training cooperation. The ISPR said the meeting reflected the 'shared commitment of both the brotherly nations to enhance strategic cooperation, solidify defense ties and promote lasting institutional linkages between the Armed Forces of Pakistan and Türkiye.'
Budapest Times
29-06-2025
- Business
- Budapest Times
Hungary-Turkey Joint Economic Commission meet in Ankara
Minister Szijjártó acknowledged Turkey's role in ensuring Hungary's secure energy supply, noting that Hungary took delivery of over 21 million cubic metres of gas a day through the TurkStream pipeline. Péter Szijjártó, Minister of Foreign Affairs and Trade, said the Hungary-Turkey Joint Economic Commission met in Ankara on Thursday. After the meeting, Minister Szijjártó acknowledged Turkey's role in ensuring Hungary's secure energy supply, noting that Hungary took delivery of over 21 million cubic metres of gas a day through the TurkStream pipeline. He added that those deliveries were set to climb by 750,000 cubic metres a day in July under an agreement between state-owned energy group MVM and Turkey's BOTAS. Minister Szijjártó warned that a plan by European Commission President Ursula von der Leyen and Ukrainian President Volodymyr Zelensky to ban cheap Russian gas and crude from the European Union would cause Hungarian households' utility bills to double or triple. Minister Szijjártó highlighted a strategic partnership between Hungarian oil and gas company MOL and Turkish peer TPAO that could boost MOL's role on markets in Europe and North Africa through joint upstream projects in Turkey, Syria and Libya. He added that MOL and TPAO were also partnering on oil field projects in Hungary. He noted that a Turkish company was building a power plant in the east of Hungary. Bilateral trade between Hungary and Turkey reached USD 4.4bn in 2025 and could climb over USD 5bn in 2025, Minister Szijjártó said.
Libyan Express
26-06-2025
- Business
- Libyan Express
Libya and Turkey sign offshore energy deal
BY Libyan Express Jun 26, 2025 - 06:13 NOC and TPAO ink exploration agreement as tensions rise in eastern Mediterranean Libya's National Oil Corporation (NOC) has signed a Memorandum of Understanding (MoU) with the Turkish Petroleum Corporation (TPAO), paving the way for offshore oil and gas exploration in Libyan waters. The agreement was formalised in Istanbul by NOC Chairman Masoud Suleiman and TPAO Director Ahmet Türkoğlu. According to a statement issued by the NOC, Turkish Petroleum will undertake extensive geological and geophysical studies across four offshore areas deemed to have strong exploration potential. As part of the MoU, a two-dimensional seismic survey will be conducted, covering an estimated 10,000 kilometres. The data collected will then be processed in detail, with the entire programme expected to be completed within nine months. The deal comes at a time of renewed maritime tensions between Libya and Greece. Just days earlier, Libya's Tripoli-based Government of National Unity (GNU) summoned the Greek ambassador, Nikolaos Garilidis, to protest what it described as Athens' 'unilateral actions' in contested maritime zones. The move followed an announcement by Greek Prime Minister Kyriakos Mitsotakis that naval vessels would be deployed to international waters off the Libyan coast. He described the operation as a 'precautionary measure' aimed at monitoring irregular migration, and claimed it would be carried out 'in coordination with Libyan authorities and other European forces'. 'Smugglers will not dictate who enters our country,' Mitsotakis stated. Both the GNU and Libya's rival eastern-based administration have issued strong objections to Greece's recent international tenders for hydrocarbon exploration south of Crete, arguing that parts of the designated areas fall within Libya's undelimited maritime jurisdiction and sovereign rights. The agreement between the NOC and TPAO is likely to add further complexity to already fraught regional maritime relations, particularly in the eastern Mediterranean, where longstanding disputes over energy rights and territorial waters persist. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
Libya Review
25-06-2025
- Business
- Libya Review
Libya's NOC Signs Offshore Exploration Deal with Turkey's TPAO
The National Oil Corporation of Libya (NOC) has signed a Memorandum of Understanding (MoU) with the Turkish Petroleum Corporation (TPAO) to launch geological and geophysical studies in four offshore areas, marking a new phase in energy cooperation between Libya and Turkey. The agreement was signed during a formal ceremony held in Istanbul on Monday, with NOC Chairman Eng. Masoud Suleiman representing Libya's state oil company, and General Manager Ahmet Türkoglu signing on behalf of TPAO. Under the MoU, TPAO will carry out comprehensive geological and geophysical evaluations in the designated offshore zones. The programme includes a two-dimensional seismic survey covering approximately 10,000 kilometres, with a firm timeline of no more than nine months for completing the data processing and analysis. According to NOC's official statement, this collaboration reflects the corporation's commitment to revitalising offshore exploration and attracting foreign expertise to enhance Libya's hydrocarbon output. The study aims to unlock the potential of Libya's underexplored offshore basins, which could significantly contribute to future production increases. Discussions during the signing also touched on technical cooperation, knowledge exchange, and the potential for further partnerships in upstream operations. The agreement comes at a time when Libya is seeking to stabilise and expand its oil and gas production capacity after years of political and infrastructural setbacks. TPAO has previously expressed interest in strengthening its presence in the Eastern Mediterranean and North African energy markets, and this MoU could serve as a strategic foothold for long-term Turkish involvement in Libya's energy sector. NOC confirmed that both parties are committed to transparent collaboration and timely execution of the agreed study phases, setting the stage for potential exploration and drilling in Libya's offshore frontiers.i Tags: libyanocoilOil ExplorationTPAOTurkey
Asharq Al-Awsat
25-06-2025
- Business
- Asharq Al-Awsat
Libya Signs Geological, Geophysical MoU with Türkiye on Offshore Areas, NOC Says
Libya's National Oil Company (NOC) had signed a memorandum of understanding with Turkish state oil company TPAO to conduct a geological and geophysical study of four offshore areas, NOC said on Wednesday, Reuters reported. "Discussions were also held regarding conducting a two-dimensional seismic survey (10,000 km long), and processing the data resulting from these surveys within a period not exceeding 9 months," Libya's state oil firm said in a statement. NOC said the agreement was signed in Istanbul by the two companies' executives. It provided no further details.
