Gwadar possesses an immense strategic lure
Gwadar possesses an immense strategic lure and could emerge as a key shipping point. It was stated by Mr. Zhang Bao ZhongChairman, China Overseas Ports Holding Company while addressing in MoU ceremony arranged by Pak-China Joint Chamber of Commerce and Industry.
The memorandum of Understanding was signed between North South Transport Network (NSTN) Pvt limited Pakistan and Gwadar International Terminal Limited (GITL) Thursday at PCJCCI premises. The MoU was signed by Mr. Muhammad Anwar CEO NSTN and Capt. Xiaolong Dai CEO GITL in presence of Mr. Shoukat Meraj, Director, North South Transport Network (Pvt.) Ltd, Mr. S.M Naveed, Senior Vice President PCJCCI chaired the session.
The MOU has been inked In order to complement and fortify the common interests and objectives amongst the parties with respect to co-operation in the development of Gwadar port. According to the MoU, GITL intends to provide land for warehousing and storage of goods/containers to NSTN; basis to anticipate the initial throughout monthly volume of 200-250 containers or 50006000 tons of cargo and up to 2000 tons or 25,000 - 30,000 tons of cargo.
During the MoU signing session the reputed dignitaries discussed various significant aspects regarding Gwadar Port. Mr. S.M Naveed SVP PCJCCI informed that currently, the transport and logistics sector (trucking, freight forwarding and warehousing) contribute around 0.38% to the GDP, and approximately USD 650 million to the national income.
He said that by attracting 5% of china's international cargo volume, the three transport and logistics subsectors could earn USD 6 billion annually, creating 9,000 new enterprises and 400,000 new jobs in the country.
Mr. Zhang Bao Zhong, added to this by saying that Gwadar is the jewel in Pakistan's economy.
He said that Gwadar possesses an immense strategic lure and could emerge as a key shipping point, bringing Pakistan the much needed income.
If it is combined with the surrounding areas through communications infrastructure, it can become a new Asian trade nucleus, he added.
Capt. Xiaolong Dai CEO GITL in this regard stated that Gwadar up till now is a deserted area and China, this year is determined to speed up the development process so as to involve more and more people to trigger the economic circle in Gwadar.
He said that MoU signed for the development of Logistics sector at Gwadar including storage and warehouses will prove to be a catalyst to economic activity in the city.