The Gwadar Port Authority (GPA) and a Chinese company agreed to boost investments at the port, the maritime affairs ministry said on Tuesday.<\/p>\n\n\n\n
Pakistan recently increased efforts on the commercialisation<\/a> of the Gwadar Port, which was built more than a decade ago but remains a non-starter. In January, the government sought<\/a> the private sector\u2019s support in routing their cargoes through the port, seeking detailed proposals to enhance trade.<\/p>\n\n\n\n \u201cChina\u2019s Xinning Enterprise have signed a Letter of Intent (LoI) with Gwadar Port Authority to stimulate major industrial and commercial investments at Gwadar Port and its Free Zone, underscoring Gwadar\u2019s growing role as a key regional hub for trade and economic activity,\u201d the maritime affairs ministry said in a press release today.<\/p>\n\n\n\n <\/a>The ministry said that the LoI, which outlines plans for diverse ventures, was signed between Xinning Enterprise\u2019s Yi Jiang and maritime affairs ministry\u2019s additional secretary Umer Zaffar Shaikh, while GPA Chairman Noorul Haq Baloch attended the event online.<\/p>\n\n\n\n \u201cThese ventures include developing Gwadar Port as a regional transhipment centre, launching new industrial projects, optimising existing facilities within the Gwadar Free Zone, and relocating industries,\u201d the press release read.<\/p>\n\n\n\n It further said that the Chinese business delegation met with Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry to discuss ways to boost the performance of the Gwadar Port.<\/p>\n\n\n\n While lauding the partnership as a \u201csignificant milestone in strengthening Gwadar\u2019s strategic importance\u201d, Chaudhry highlighted Xinning Enterprise\u2019s potential to \u201cboost the port\u2019s capacity, attract foreign investment, and contribute to the broader economic development of the region\u201d.<\/p>\n\n\n\n \u201cBoth parties committed to adhering to Pakistan\u2019s legal and regulatory framework governing Gwadar\u2019s port and Free Zone operations,\u201d the ministry stated, \u201cThey also pledged continued good-faith discussions to identify investment opportunities, finalise operational details, and establish mechanisms for cooperation.\u201d<\/p>\n\n\n\n Chaudhry also reiterated \u201cthe government\u2019s commitment to transforming Gwadar into a global maritime gateway and industrial powerhouse\u201d and said that such collaborations will accelerate Pakistan\u2019s maritime and economic ambitions, the ministry added.<\/p>\n\n\n\n On July 1, the Ministry of Maritime Affairs announced<\/a> an ambitious plan to expand Gwadar Port\u2019s operational capacity by introducing additional shipp\u00ading lines and launching a ferry service connecting Pak\u00adistan with Gulf Cooperation Council countries. Subsequently, five private companies proposed<\/a> routes for the ferry service.<\/p>\n\n\n\n The move is expected to provide an affordable, direct maritime link for passengers and cargo, particularly benefiting expatriate communities and cross-border traders.<\/p>\n\n\n\n