ISLAMABAD: Pakistan and its territorial waters have been removed from the Listed Areas of the Lloyd’s Market Association’s Joint War Committee (JWC), a move expected to lower war-risk insurance premiums and shipping costs, Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said on Thursday.
The JWC’s Listed Areas identify high-risk maritime zones for insurers in the London insurance market, including members of the Lloyd’s Market Association (LMA) and the International Underwriting Association (IUA). Vessels operating in these areas are typically subject to additional war-risk insurance premiums.
Calling the decision a “historic achievement,” Chaudhry said it would enhance the competitiveness of Pakistani exports while boosting the confidence of international shipping companies, traders and investors.
New opportunities for regional trade
“The removal of Pakistan from the JWC Listed Areas will also make Karachi Port, Port Qasim and Gwadar Port more attractive to global shipping lines and investors, creating new opportunities for regional trade, cargo transit and transshipment,” he said in a statement.
The minister said the government formally raised the issue on March 13, 2026, after determining that Pakistan and its territorial waters had remained on the JWC’s Listed Areas for decades, resulting in higher war-risk insurance costs and additional surcharges on maritime trade.
پاکستان لائیڈز جوائنٹ وار کمیٹی کے لسٹڈ ایریاز سے نکل گیا
وزیر بحری امور کی قیادت میں قائم کمیٹی کی چار مہینوں کی کوششیں رنگ لے آئیں
وزیر اعظم کی ھدایت پر کمیٹی قائم کی گئی
پاکستان کی سمندری حدود کو لسٹڈ ایریاز سے نکالنا تاریخی کامیابی، جنید انوار چوہدری@MAnwarRaza pic.twitter.com/hOa2bcfDSZ— Media Talk (@mediatalk922) July 30, 2026
Following this, Prime Minister Shehbaz Sharif constituted a special committee, headed by Chaudhry, to engage with Lloyd’s officials. According to the minister, the committee presented the country’s case using technical evidence and factual data during a series of negotiations.
Chaudhry said the sustained engagement ultimately led to Islamabad’s removal from the list.
He said the decision would ease the financial burden on the country’s maritime trade, lower shipping costs and improve the competitiveness of the country’s exports in global markets.
The minister added that the development marked a significant step toward positioning Pakistan as a regional hub for logistics, transit and transshipment.
Pakistan’s Gwadar port signs pact with Chinese firm
Last week Pakistan’s Gwadar Port Authority (GPA) signed a Letter of Intent (LOI) with Shenzhen-based Optimise Integration Group Incorporated (OIG) to promote trade, investment and industrial cooperation.
The letter was signed during the visit of the Authority’s Chairman, Noor ul Haq Baloch, to China.
Also Read: Pakistan’s Gwadar Port Signs Pact With Chinese Firm
The agreement establishes a framework for collaboration between the two sides to explore opportunities. They would work in business development, bilateral trade and investment, supply chain integration and strategic partnerships, according to a statement issued by the Gwadar Port Authority.
Under the arrangement, GPA and OIG will work together to attract investment, support businesses, and enhance industrial capacity. The desired goals would be achieved through technical training and development of food processing and export-oriented industries around Gwadar Port.
Particular emphasis will be placed on modernising Gwadar’s seafood processing and export value chain. The project would encourage Chinese investment and expand trade between Islamabad and Beijing, the statement said.
