ISLAMABAD: The Ministry of Planning, Development, and Special Initiatives announced the completion of the China Exhibition and Trading Center (CETC) on Friday, in a record time of 6 months at the Gwadar deep-sea port with the cost of 12 million dollars.
The project was initiated in November 2022 on the direction of the planning minister Ahsan Iqbal to promote business and related activities at the Gwadar Port.
China Offshore Ports Handling Company’s construction project
Following the direction of the minister’s directives, the China Offshore Ports Handling Company commenced construction of the project completed on Friday. Iqbal has further directed to conduct the 3rd International Expo Gwadar in the newly established EXPO centre in June 2023, coinciding with the 10-year celebrations of the China-Pakistan Economic Corridor (CPEC) in July this year.
The Gwadar Ports are a key component of the CPEC and the broader Belt and Road Initiative (BRI).
Gwadar is Pakistan’s premier deep-water port located strategically on the Arabian Sea, offering a gateway to the Arabian Gulf, Middle East, and Central Asia. The development under CPEC aims to transform Gwadar into a major trade and economic hub, facilitating regional connectivity and enhancing Pakistan’s maritime trade.
Gwadar’s potential as an energy and transport corridor and its strategic location makes it a focal point for international investment and economic cooperation, driving economic growth and regional integration. –APP
