Foreign Minister Shah Mahmood Qureshi stated that the China-Pakistan Economic Corridor and the development of the Gwadar port are ‘game-changing’ projects. In an address at Karachi’s 9th International Maritime Conference, the Foreign Minister delineated the importance of the Gwadar port and its significance in enhancing the ‘geo-economic significance of Pakistan.’
“The Gwadar Port, which occupies a strategic location overlooking the Strait of Hormuz and the North Arabian Sea, has the potential to develop into a full-fledged regional hub and a trans-shipment port,” he said.
“It places Pakistan at a point of convergence, linking active sea-lanes to landlocked Central Asian Republics for shipment of oil, coal and agricultural products,” the Minister added.
The port has also played a crucial role in the provision of new vistas for businesses. Shah Mahmood Qureshi emphasized on the development of coastal real estate for attracting both local and foreign investment.
“Recognizing its importance, our Government has enhanced focus on the development of maritime sector as a priority area. We have taken a number of initiatives to transform Pakistan’s ports into regional transshipment hubs, including by up-gradation of port infrastructure,” he said.