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Tue, Nov 05, 2024 | Jumada al-Awwal 3, 1446 | DXB
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Gwadar: A Linchpin For Prosperity And Connectivity In The Region
Once completed, the Gwadar Port would connect three regions, i.e. Central Asia, South Asia and Middle East. It would open new job opportunities and help in the development of Balochistan, and enable Pakistan to explore minerals, hydrocarbons, oil and gas resources of CARs
- By
- Ghulam Haider
Gwadar would develop trade links among regions such as South Asia, Africa, Central Asia, Gulf and Middle East. It would provide strategic leverage to Pakistan.Picutres Courtesy: Developing Pakistan
The Gwadar port holds great strategic and economic significance for Pakistan. It is third important deep-sea port of Pakistan after Karachi and Qasim ports. It is located at cross-junction of international sea shipping and oil trade routes and can act as an international trade hub for Pakistan.
A view of Gwadar Expo and Trade Centre.
With the momentum of development maintained, the overall investment in Gwadar could soar to a staggering $5 billion within a few years. Spanning 4,300 acres, the Gwadar airport surpasses the expanses of Karachi, Lahore, and Islamabad airports, signifying its significance. Envisioned to be operational by the close of 2023, this airport will be primed to accommodate 380 large aircraft and handle over a million passengers annually within three years of contract signing through a competitive bidding process.
Gwadar airport is expected to be operational by the close of 2023 and will be primed to accomodate 38- large aircraft.
Once completed, Gwadar Port would connect three regions, i.e. Central Asia, South Asia and Middle East. It would open new job opportunities and help in the development of Balochistan. Pakistan would be able to explore minerals, hydrocarbons, oil and gas resources of CARs.
Besides attracting foreign investment and tourism, it would provide foreign reserves and free trade zones and special economic zones that would help in the economic prosperity of Baluchistan and Pakistan. It would help to increase Pakistan’s trade and commercial activities particularly in Baluchistan province.
Gwadar would develop trade links among regions such as South Asia, Africa, Central Asia, Gulf and Middle East. It would provide strategic leverage to Pakistan. It will increase job opportunities for Pakistani people and help in economic development through transit trade fee and foreign exchange reserves. Gwadar will boost up cooperation of Pakistan with other countries in oil and energy sector.
Tourism, trade, hotel industry and state revenue will increase which will strengthen economy of the country. Gwadar offers tax-free investment and trade, thus attracting large number of foreign investors to open new development projects and economic plans.
Through Pakistan-China Economic Corridor (CPEC), China would benefit from the nearest Gwadar port. Kashgar is 4,500km while Gwadar is 2800 km from the Port of Shangai. The port would provide China an access to Afghanistan and Central Asian Republics. The Strait of Malacca can be blocked by India but Gwadar would provide an alternate sea route to the world’s second largest economic power in terms of gross domestic product.
Gwadar will take Pak-China relations to new heights as Chinese Premier on his bilateral visit to Pakistan referred to Gwadar as “Economic Corridor”. Similarly, Gwadar has the potential to serve as a regional hub and it would also provide better trade routes to the landlocked Caspian region.
A remarkable transformation is underway, signalling the evolution of the once-small Gwadar town into a bustling international port city. The streets are adorned with fresh carpeting, and a skyline of modern buildings is emerging across the landscape. The transformation is most evident in the metamorphosis of fishermen’s shanty dwellings and boatyards into contemporary residences, commercial centers, and healthcare facilities. These developments fuel hopes that Gwadar may emerge as a thriving business hub in a matter of years.
China’s involvement extends beyond infrastructure, as demonstrated by their investment in a research and development project focused on identifying plants and flowers that can thrive in Gwadar’s unique ecosystem. A vocational training center has become operational, empowering local residents with skills essential for the evolving job landscape. Moreover, the establishment of a substantial hospital, currently undergoing expansion, speaks to China’s commitment to fostering the region’s healthcare capabilities.
The culmination of these endeavours positions Gwadar to become a model city, offering its residents a quality of life that serves as a beacon of hope and inspiration. As a trailblazing example, Gwadar is poised to uplift other cities hosting CPEC projects, demonstrating the potential that lies within these transformative initiatives. Ultimately, the prime beneficiaries of CPEC’s potential should rightfully be the residents of Gwadar, who stand on the precipice of a promising future.
The government of Pakistan recognises that the Gwadar Port could be the key to achieving sustainable economic growth by giving the country more exposure to maritime trade. The investors have poised the port to become a significant commercial hub in the region with $62 billion worth of investments in its infrastructure
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