Full potential of Gwadar Port will be tapped say China-Pak
Beijing, Jan 01: All-weather allies Pakistan and China have agreed to use the full potential of the strategic Gwadar Port in Balochistan province, a major project under the CPEC that provides the Communist-giant an opening to the Arabian Sea.
The CPEC is the flagship project of China's ambitious USD 60 billion Belt and Road Initiative (BRI) and it links China's Xinjiang province with Pakistan's Gwadar port in Balochistan province.
The decision was taken during a meeting between Pakistani and Chinese officials on Thursday via video link, according to a statement by China-Pakistan Economic Corridor (CPEC) Authority, PTI reported.
The two sides resolved to redouble the efforts to tap the full potential of Gwadar port and free zone as well as to make sure that the local population of Gwadar and surrounding areas fully benefit from these projects by utilising the massive opportunities being created in various sectors, according to the statement.
The sixth session of the Joint Working Group on Gwadar reviewed the implementation of China-Pakistan Economic Corridor (CPEC) projects in Gwadar and also deliberated upon the future course of action with regard to development of Gwadar city, port and the free zone, it said.
The two sides reviewed the progress made on various projects, including full operationalisation of the Gwadar port and its inclusion in the Afghan Transit Trade route and vowed to redouble efforts to tap the full potential of the Gwadar Port.
The meeting also noted the completion of the project Gwadar Free Zone Phase-1, and start of work on the bigger Phase-II, covering an area of 2,221 acres.
The meeting emphasised on the need for finalisation of the marketing and investment plan for Free Zone along with its implementation strategy. The meeting was informed that the Plan would soon be submitted for consideration of the Cabinet Committee on CPEC.
The Pakistan side assured the Chinese investors, who made presentations during the meeting on their planned investments in Low Carbon Recycling Park, within the Gwadar Free Zone, of full support and cooperation for their ventures.
The meeting also took note of various operational issues faced by the projects during the course of the year, several of which were resolved through intervention of relevant authorities. Both sides resolved to address any remaining issues on priority.
The meeting was also informed that the Pakistan government was actively implementing various projects, in close collaboration with the provincial government to ensure provision of all the necessary facilities in Gwadar.