GWADAR: Pakistan’s Gwadar Port Authority (GPA) and Chinese company Xinning Enterprise have signed a key agreement. The goal is to boost industrial and commercial investment at Gwadar Port. The Ministry of Maritime Affairs confirmed the deal.
Gwadar lies along the Arabian Sea. It is the centerpiece of the China-Pakistan Economic Corridor (CPEC). China has invested heavily in Pakistan’s infrastructure, energy, and transport sectors.
Gwadar’s location offers the shortest trade route to the Gulf and Central Asia. It has the potential to become a major transshipment hub. The agreement, a Letter of Intent (LoI), marks an important step. It aims to turn Gwadar into a strong economic center.
The plan includes new industrial projects. It also involves upgrading current facilities in the free zone. Some industries will be relocated to expand the port’s capacity.
The Maritime Affairs Minister called the agreement a “milestone.” He said it will strengthen Gwadar’s role in regional trade. He praised Xinning Enterprise for its role in attracting investment and boosting port activity.
The Minister also reaffirmed the government’s commitment. He said Pakistan will turn Gwadar into a global maritime gateway. He stressed the importance of working with experienced international companies. These partnerships, he said, are crucial for economic growth.
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Pakistan is working to recover its economy with help from a $7 billion IMF package. It aims to use Gwadar’s strategic position to boost trade and attract investment. This agreement supports that goal. It helps Pakistan pursue sustainable growth and make Gwadar a key trade hub in the region and beyond.
