Key points
- Initial cargo to include minerals, seafood, and cement
- Gwadar positioned as regional Gulf-Central Asia trade hub
- The port is central to China-Pakistan Economic Corridor (CPEC)
ISLAMABAD: The Pakistani government is actively collaborating with private shipping lines to launch transshipment operations between Gwadar and the Gulf region, according to a report by state media on Friday.
This development was disclosed during a high-level meeting of the Cabinet Committee on the Operationalisation of Gwadar Port, chaired by Planning Minister Ahsan Iqbal, according to Arab News.
Maritime authorities briefed attendees that the initial categories of cargo would include minerals, dates, seafood, and cement—focusing on industries such as mining, fisheries, and processing.
Gwadar’s strategic location
Minister Iqbal highlighted Gwadar’s strategic location as the shortest trade route to the Gulf and Central Asia, underlining its potential to serve as a regional transshipment hub, Radio Pakistan reported.
“He stressed the importance of showcasing Gwadar Port at international roadshows as a pivotal trade hub connecting the Gulf and Central Asia,” the report stated. “He instructed stakeholders to promote the port’s cost-effective trade routes and highlight the incentives available to international businesses.”
Situated along the Arabian Sea, Gwadar is a central component of the China-Pakistan Economic Corridor (CPEC), through which China has invested tens of billions of dollars in large-scale transport, energy, and infrastructure projects across Pakistan.
Recovering from macroeconomic crisis
As Pakistan gradually recovers from a macroeconomic crisis under a $7 billion deal with the International Monetary Fund (IMF), it is seeking to leverage its strategic location to enhance regional transit trade and attract foreign investment as part of a long-term economic recovery strategy.
In an effort to improve trade efficiency and reduce congestion, Pakistan also aims to cut container dwell times at its ports by up to 70 per cent. Last month, the government reduced port charges for exporters by 50 per cent at the country’s second-largest facility, Port Qasim.
