Turkey, Pakistan, Saudi Arabia Sign NATO-Like Defense Pact

Turkish Foreign Minister Hakan Fidan announced a new "Mecca Joint Defence Agreement" between Turkey, Pakistan, and Saudi Arabia, stating an armed attack against one would be considered an attack on all. Fidan emphasized the pact, which took over two years to finalize, is not targeting Iran but aims to bolster the allies' security and is open to expansion, with Egypt as a potential candidate. This significant regional alliance, likened to NATO's Article 5, could influence investor perceptions of geopolitical stability. Such developments may impact safe-haven demand for gold or sentiment towards the Pakistani Rupee.

بحوالہ / Source: www.brecorder.com