Exploring opportunities: Seminar highlights Gwadar’s potential

Chinese company, LCCI discuss port city’s strategic location

LAHORE: Laying stress on the importance of Gwadar to the economic progress of Pakistan, participants of a seminar said the country could reap numerous benefits from the strategically-located port, which would give it access to landlocked countries in the region.

At the ‘Gwadar - a deep sea port exploring global opportunities’ seminar, held at the Lahore Chamber of Commerce and Industry (LCCI), China Overseas Ports Holding Company (COPHC) Chairman Zhang Baozhong said the port is the product of long-term China-Pakistan cooperation.

“Gwadar terminal has done a lot of effective and fruitful work,” said Zhang. “In May last year, the terminal started a commercial containerised service which has been continuously catering to seafood shipments for Indonesia, China and other Far East countries. “Gwadar has enormous potential for any kind of business activity.”

Commenting on Pakistan’s economic performance, he said there has been a significant improvement in recent years which reflects the strong commitment and a series of serious efforts made by the government.

The chairman appreciated the efforts of the government and the armed forces for the fast pace in the completion of highways supporting China-Pakistan Economic Corridor (CPEC) and providing a secure path for economic development.

Consul General of China Yu Boren said that global trade is facing challenges and CPEC is a cooperation platform with a focus on long-term development of bilateral cooperation in various fields.

“We are focused on four major areas of Gwadar Port - energy, transport, infrastructure and industrial parks,” said Yu. “In addition, cooperation in agriculture, science and technology, finance, education, cultural and media exchanges is under way.”

Published in The Express Tribune, March 2^nd, 2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.