Gwadar pos­sesses an im­mense strate­gic lure

The Pak Banker - - NA­TIONAL -

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.

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