ISLAMABAD: Pakistan’s foreign office on Thursday urged both Iran and South Korea to exercise restraint and resolve their differences under international law.
The statement was issued after South Korea moved its forces near the Strait of Hormuz after Iran seized its oil tanker along with the crew on Monday.
“We have noted the development [in the Strait of Hormuz]. We urge all sides to exercise restraint,” the foreign office spokesman, Zahid Hafeez Chaudhri, said in a press briefing in Islamabad.
“All the differences pertaining to maritime affairs should be resolved as per international laws,” he added.
Iran’s Revolutionary Guard stormed the South Korean tanker earlier this week and forcefully took it to an Iranian port nearby.
The South Korean Navy sent its destroyer to the area amid escalating tensions. A South Korean delegation also left for Iran on Thursday to negotiate an early release of the oil tanker and its crew.
“A dangerous situation is developing in the area that must wisely be addressed in this early stage. Any disturbance in this part of the world, which contributes about 65 percent to the world oil trade, should be a matter of grave concern. The stakes are high for every country,” retired naval officer and maritime affairs expert, Rear Admiral Saleem Akhtar, told Arab News.
He added that the development was particularly challenging for Pakistan due to its close proximity to the Strait of Hormuz.
“Our 95 percent of the trade comes from this place,” he said. “If it escalates, it can be a very dangerous situation for Pakistan. It will affect our merchant ships and make trade far more expensive and difficult.”
Pakistan should use its close relations with Iran to deescalate the situation and mediate, Akhtar suggested.
Another maritime affairs expert, Vice Admiral Khan Hasham bin Saddique, said it was a good sign that South Korea had sent its delegation to Iran to diplomatically resolve the issue.
“The Strait of Hormuz is extremely important for the whole region. A diplomatic solution to the problem is good for everyone in the neighborhood and since peace in this area is vital to international trade,” he told Arab News.
Pakistan urges restraint from Iran after South Korea tanker seizure
https://arab.news/5wdh3
Pakistan urges restraint from Iran after South Korea tanker seizure
- Iran's Revolutionary Guard recently stormed a South Korean oil tanker and took it to a nearby port
- All differences pertaining to maritime affairs should be resolved as per international law, says the foreign ministry
Pakistan to promote mineral sector at Saudi forum this month with 13 companies
- Delegation will take part in the Future Minerals Forum in Riyadh from Jan. 13-15
- Petroleum minister will lead Pakistan, participate in a 90-minute country session
ISLAMABAD: Around 13 Pakistani state-owned and private companies will attend the Future Minerals Forum (FMF) in Saudi Arabia from Jan. 13 to 15, an official statement said on Friday, as the country seeks to ramp up global engagement to develop its mineral resources.
The FMF is an international conference and investment platform for the mining sector, hosted by mineral-rich countries to attract global investors, companies and governments.
Petroleum Minister Ali Pervaiz Malik confirmed Pakistan’s participation in a meeting with the Saudi envoy, Nawaf bin Said Al-Malki.
Pakistan hosts one of the world’s largest copper-gold zones. The Reko Diq mine in southwestern Balochistan, with an estimated 5.9 billion tons of ore, is partly owned by Barrick Gold, which calls it one of the world’s largest underdeveloped copper-gold deposits. Its development is expected to boost Pakistan’s struggling economy.
“Upon an invitation of the Government of the Kingdom of Saudi Arabia, the Federal Minister informed the Ambassador that Pakistan will fully participate in the upcoming Future Minerals Forum (FMF), scheduled to be held in Riyadh later this month,” Pakistan’s Press Information Department (PID) said in an official statement.
The Pakistani minister will lead his country’s delegation at the FMF and take part in a 90-minute country showcase session titled “Unleashing Potential: Accelerating Pakistan’s Mineral Revolution” along with local and foreign investors.
Pakistan will also establish a dedicated pavilion to highlight the vast potential of its rich geological landscape to the global mineral community.
The Saudi envoy welcomed Pakistan’s decision to participate in the forum and discussed enhancing bilateral cooperation in the minerals and energy sectors during the meeting.
According to the statement, he highlighted the potential for cooperation between Saudi Arabia and Pakistan in the minerals and energy sectors, expressing confidence that the FMF would provide a platform to expand collaboration.
Pakistan’s mineral sector, despite its rich reserves of salt, copper, gold and coal, contributes only 3.2 percent to the country’s GDP and just 0.1 percent to global mineral exports.
However, many countries, including the United States, have shown interest in Pakistan’s underdeveloped mineral sector, particularly in copper, gold and other critical resources.
In October, Pakistan dispatched its first-ever shipment of rare earth and critical minerals to the United States, according to a Chicago-based US public relations firm’s report.
