ISLAMABAD: Prime Minister Shehbaz Sharif is likely to undertake a two-day official visit to Turkey from May 31, 2022 during which different bilateral issues will come under discussion.
Official sources told Business Recorder, Prime Minister Office and Ministry of Foreign Affairs giving final touches to the agenda of meetings including issues being faced by Turkish companies in Pakistan.
The PM will hold meeting with Turkish President Recep Tayyip Erdogan to discuss bilateral issues including trade, investment and matters related to Pakistanis residing in Turkey and those who reach Turkey to enter Western Europe.
On May 17, 2022, Ministry of Foreign Affairs, wrote a letter to Ministry of Energy (Power Division), seeking update on the following issues faced by Turkish business, Zorlu Energy Group including tax determination by Nepra for Quaid-e-Azam Solar Park project and payment of outstanding amount stuck with CPPA-G on account of circular debt with respect to wind power plant in Jhimpir (Sindh).
Both countries are likely to hold 7th session of High Level Strategic Cooperation Council (HLSCC) soon aimed at finding new avenues of cooperation in defence, energy, trade and other sectors.
Both countries have very close bilateral relations and cooperate with each at different international fora.
The sources said that Ministry of Foreign Affairs has sought details of implementation on different pacts signed between the two countries.
Pakistan Mission has prepared lists of action points pertaining to signed documents (a total of 65 agreements/ MoUs / protocols) of the past six session of HLSCC from 2010-2020.
Pakistan and Turkey, however, have not signed Free Trade Agreement (FTA) due to wide differences and the issue is still unresolved, the sources said, adding that leadership will hopefully sort out existing differences.
The sources said that both sides will discuss progress on agreements concerning cooperation in the field of hydrocarbons - development of supply and trading opportunities for petroleum and petroleum products through long-term agreements by and between the nominated entities (PSO and Turkish Petroleum International Company - TIPC).
Both countries will continue and intensify cooperation for exploration and production activities within their blocks for mutual benefit and overall reciprocity. Review of farm-in and farm-out, opportunities in existing exploration licences of the parties under swap arrangements. Review opportunities in development and production fields. Preparation of joint applications for upcoming domestic and international bidding rounds for selective blocks.
The sources said OGDCL and PPL will support TAPO to be awarded as “strategic partner” by Directorate General of Petroleum Concessions in accordance with Pakistani legislations under the condition of convenience investment opportunities in Pakistan. Exploration and development of offshore blocks in Pakistan in joint venture with OGDCL and PPL will be discussed as well as joint work with OGDCL and PPL to formulate strategies for sharing expertise/ training in the field of petroleum engineering during its offshore operations. OGDCL will provide training pertaining to onshore petroleum engineering at their training institute.
Copyright Business Recorder, 2022
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