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Significance of Gwadar- A brief Overview

Gwadar is a port city located on the southwestern coast of the Balochistan province of Pakistan. The city is located on the shore of Arabian Sea and is about 700Km away from Karachi. Located near the border of Iran the Gwadar city is located to the east of the Persian Gulf and right opposite to Oman.

A Quick History of Gwadar:

Form the history, the Gwadar was a small to medium size setting with the economy mainly based on the artisanal fishing. The strategic value of Gwadar was initially appreciated in 1954 when it was identified as a suitable deepwater seaport by the geological survey conducted by the United States of America. That survey was conducted on the request of Pakistan. At that time the Gwadar was under the possession of Oman.

Despite having the idea of the value of Gwadar, its actual potential remained unveiled up till 2001. By the year 2001, the initial construction of the Gwadar Port was initiated. With a net cost of $248 million, the first phase was inaugurated by General Pervez Musharraf.

After construction, the port remained under-utilized for a number of reasons including insufficient investment, security issues and the failure of the Pakistani Government to transfer land as per promised to the port of Singapore Authority (they were the port operators that time).

The CPEC Project:

By the year 2015, China showed its intention of developing Gwadar port city with an investment of $46 billion under the name of CPEC (China- Pakistan Economic Corridor). China aimed to develop a One Belt- One Road with the idea to facilitate the trading activities using this road. The Gwadar is majorly featured in the CPEC project. It is also foreseen as a link between the Maritime Silk Road and the One-Belt, One Road project.

Investments in Gwadar:

Almost $ 1.153 billion worth infrastructure is planned to be invested in the Gwadar city, apart from the major CPEC projects. The aim of this initiative is to link Western China with Northern Pakistan to this deepwater seaport. The Gwadar city will also be a site for storing transported floating liquefied natural gas that will be a part of the Iran-Pakistan Gas Pipeline Project.

Importance of Gwadar Port:

With the changing time, sea politics is getting complex with the massive involvement of economic prosperity and commercial activities, on a global level. The Gwadar port holds huge economic and strategic significance for Pakistan and is the third important seaport of Pakistan after the Karachi and Qasim Port.

Being located at the cross junction of the international shipping and the oil trading routes, the Gwadar port has become of massive global advantage for all the economies of the world, including Pakistan. This is the reason why Gwadar is considered to be acting as a trade hub in Pakistan. with its direct link to three major regions of the globe stated as; South Asia, Middle East, and Central Asia, the Gwadar port will be a new investment opportunity that will have a positive impact on therewith of Balochistan.

With Gwadar, Pakistan will be able to explore minerals, gas and oil resources and hydrocarbons, etc. the port is also attracting a massive amount of tourist and foreign investors and can be seen serving as a foreign reserve and free trade zone. All these features will surely help and play a role in the prosperity of Pakistan. It can also help to enhance the commercial and trade activities in the country.

Read also: 5 Reasons You Should Invest In Naval Anchorage Gwadar

At the same time, it is believed that the Gwadar will make Pakistan be a monitoring part of the Sea Line of Communications that comes from the Persian Gulf. With a strategic leveraging of investments and opportunities, the Gwadar will open up doors for new opportunities of the people of Pakistan and will help them in their economic growth and stability via Trans trading activities and foregone exchange reserves.

Gwadar is also believed to be boosting up the co-operation of Pakistan with other political establishments of the world in terms of energy and oil resources. At the same time the trade, hotel industry, and the state revenue sectors will have a positive impact. As the Gwadar is offering tax-free trade and investment opportunities, it is successfully attractive for foreign investors to open up and invest in pipeline projects and economic plans.

The Geo-Political Importance of Gwadar:

The Gwadar port has massive strategic importance and is increasing the importance and value of Pakistan in a global setting and specifically in the region. Through the Persian Gulf and the Indian Oceans and Southeast Asia, the Role of Pakistan is enhanced. With its close locality to the Strait of Hormuz, it will be a roadway to supply 13 million barrel oil on a daily basis.

Gateway to Central and Southwest Asia:

On its completion, the port is expected to open new vistas for development and cooperation in the region. The port is expected to offer facilities of transshipments, warehousing, coastal and transit trades, industrial as well as commercial facilities for international import-export trades. The above said are specifically referred to the Oman, UAE, Saudi Arabia, Iran, Iraq, China, Central Asian States, Qatar and other countries of the region.

The Gwadar port is also believed to offer a cost-effective, safe, secure and uninterrupted supply of natural energy. This uninterrupted supply will help all these countries to sustain and smooth industrial development and growth. With its geostrategic position, Pakistan will bridge the transportation gaps and will offer the shortest possible route for energy transportation. At that same time, it will offer the shortest possible route to the warm waters of the Arabian Sea.

Developments at Gwadar Port:

With the partial technical and financial assistance of China, Pakistan has successfully completed the first phase of the deep-sea port in the Gwadar. The Gwadar port was initially inaugurated on the 20th of March 2007. A number of projects are already completed for about 50% and the rest of working is on the go. Phase 2 of Gwadar will include; a major cargo terminal; a ro-ro terminal, two oil terminals, and four container berths.

A- The Kara-Koram Highway:

Decided as to up-grade the KKH as the upgraded road is believed to be providing a short route to the sea and will be superficially beneficial for the product manufacturers from China. The KKH is also believed to be serving as an overland route for trading between India and China. It will also facilitate Pakistan and China in terms of trade and energy improvement, development of the railway links, oil and gas pipeline linkage and the fiber-optic connectivity along the highway under one project.

B- The railway System:

Along the KKH a railway line is developed and will be connecting China and Pakistan and is considered as a vital part of the energy and trade corridor. The aim of this railway web is to facilitate the trade activities as well as transport energy in case other means are not operational for any reason. This rail track will be linked to Gwadar as Gwadar will be carrying the oil-refining as well as storage facilities.

C- The Energy Pipelines:

The framework of the agreement on energy cooperation was initiated back in 2006. According to this agreement, an energy pipeline of 30-inch diameter will be installed from Khunjerab to Gwadar. This pipeline will pass through Awaran, Pir Muhammad, Khuzdar, Shikarpur, D. I. Khan, Kundian, Mianwali, Talagang, Pindi Ghraib, Fateh Jang, Haripur, Mansehra, Patan, Dasu, Chilas, Bunjil, Gilgit, Sust, and Khunjerab pass.

Benefits of Gwadar Port for Pakistan:

Top on the list is that with Gwadar, Pakistan can fulfill its energy needs and it can also secure benefits including; enhancement of trades with middle east and Cars; relations with the regional and neighbor countries will be improved; trades will be enhances; TAPI and IPI pipeline projects may lead to neutralized relations with India. Pakistan can also earn massive foreign exchange through transit fees and thus can improve its fore exchange reserves. With Gwadar port, the backward areas of Pakistan will improve gradually but significantly. There will be improvements in the literacy rate and the living conditions of backward areas of Pakistan and a lot of new jobs will come up due to foreign and local investments in the area. With the improvement in the overall economy, there would be an improvement in the hotel and tourism industry as well.

Read also: A Complete Guide For Overseas Pakistani To Invest In Pakistan Real Estate

It is amazing that a fishing village to yesterday is soon to become the hub of regional trade activities supplying Pakistan with the most needed support in all ways possible. The amazing significance of the Free Economic Trade Zone and the Gwadar Port is well known to the Government of Pakistan and is thus working on many different aspects of the idea to promote the value of Gwadar to international investors and to provide them will all what it takes to convince them of any kind of big or small industrial or residential investment. Expected is to have a brighter future as soon as the Gwadar Port is completely operational and playing in the field.

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A Complete Guide for Overseas Pakistani to Invest in Pakistan Real Estate

Investing in the real estate sector of Pakistan has always considered as a striking opportunity, the reason for such appreciation is the attractive returns and fast-changing and upward going trends. This situation is the same for the local as well as international investors. And this is the reason why both local and international real estate investors keep showing their interest in Pakistani property.

It is also noteworthy that real estate investment is something that offers a minimum level of risks. With the changing demographics and the inception of the idea of CPEC, the government of Pakistan is also looking forward to loosening the laws to encourage overseas Pakistani investors. The core purpose of this thought is to provoke them and boost their interest in investing in Pakistan, by facilitating them with the better and easy to deal with opportunities. The government of Pakistan and the private investors has made it easier for the property investors to invest in a property located in the major cities of Pakistan like Karachi, Lahore, and Islamabad.

Read also: History Of Gwadar: Past, Present, And Future

The investors now have reliable, attractive and developed real estate projects that can offer increased returns on investments depending on the volume of investment. Rather than relying on the suggestions of people, better is to take suggestions from the experts or the people who already have experience in investing in the real estate sector of Pakistan. You may get connected with the real estate agents for digging out the available opportunities but going for personal advice from any trusted person is also a must before making your final decision.

The Process of Buying Property in Pakistan:

Just like any other part of the world, investing in Pakistan demands proper documentation, identification and above all, some time. But in every case, it will turn out to be a massive profit for you’re by the end of the day. For overseas investors, the Government of Pakistan has settled some rules that are different than that of the rules and regulations for local real estate investors in Pakistan. At first, you need to register with the Overseas Pakistanis Foundation to be eligible to purchase a property in your name.

Finding the Right Agent:

If you do not have any direct reference or link in your relation, that has the experience to deal with the property buying and selling in Pakistan, you need to look for a person with the ability to deal with the process. Even in the case, you have any direct reference you can give you a piece of good advice, you need to have some professional assistance. For this reason, you need to find the right and authentic agent to help you in the process of finding a piece of land and dealing with the remaining process. Choose an agent after a rigorous screening. He will be responsible for offering your assistance from start till the end of the property buying process in Pakistan. You can do an online search for different agents who can help you in the process.

Documents for Property Buying and Selling In Pakistan:

As mentioned before you need to carry proper documentation to get a property registered in your name. Here is the list of necessary documents that will be demanded during the process;

– A copy of current passport

– Six recent passport size pictures

– A copy of National Identity Card for Overseas Pakistanis

– Copy of entry stamp for residing foreign country

– Copy on exit stamp from Pakistan

– Passport size photographs and list of your family members

All these documents need to be attested and while submitting you need to submit the down payment for the necessary processing for the property.

The Taxes:

It’s obvious, taxes are involved but being a Pakistani overseas investor you need to pay 4% of the withholding tax when you are dealing with a property related transaction. Other taxes that you may need to pay include Capital Gain Tax also known as the CGT, the registration fee and the stamp duty charges. If you are taking help of a property agent you will be assisted with all the charges and the possible expenditures you may have to deal with.

Finding the Best Housing Scheme in Pakistan:

You can find a number of online sources that can help you find the best schemes with the latest offers. As we have mentioned before that investment in Pakistan is an always growing trend for the Pakistani expatriates. Sooner or later the property will end up offering you a better return on investment. At the same time, real estate investment comes with a minimum level of risks and the activities are well supported by the government policies.

However, important is to make the right decision and perform detailed market research before buying any property. With the inception of the idea of CPEC, most of the real estate investors are focused on investing in Gwadar City and adjacent property offers. Apart from Gwadar, there are many other areas that can give you a better ROI in later years.

Property Investment in Lahore:

Lahore is one of the fastest developing cities of Pakistan and is facilitating the residents with all the necessary facilities. It is also a business and industrial hub with all the facilities which makes it a major attraction for the people from all over Pakistan. Alongside the Ring Road Lahore, there are many well-grown and growing Housing Societies that are a good idea for investment. At the same time, the sideline of Thokar Niaz Baig is offering a better approach to the city with the help of newly developed Metro Bus route and the upcoming Orange Train route to connect the business sections of the city with that of the adjacent residential areas.

Rawalpindi & Islamabad:

Islamabad remains flooded with the overseas investors and the market seems to have a brighter future in coming years. It is considered as a safe deal for foreign investors and thus comes with tough competition. Just like Lahore the city is expanding and offering new projects like the residential area near the New Islamabad International Airport making it a prime location for real estate investment. Same is the case with the other half of the twin city, Rawalpindi.

Karachi:

Another major industrial hub of Pakistan and directly associated with Gwadar Port City, Karachi is one of the major attraction for the international real estate investors. The sea is also a major attraction for investors. Clifton Karachi has a number of things to attract international investors with a comprehensive budget bracket. At the same time, there is Faizaia housing Scheme that is linked with the Motorway, making it another high-profile investment option. You can find apartments and bungalows in here, depending on your interest and preferences.

Read also: Real Estate Buying Mistakes Every Pakistani Should Know

Above all, whether it’s Islamabad, Lahore or Karachi, the Defense Housing Society and the Bharia Town have successfully established themselves as the incomparable and strong property brands. For most of international investors, the two places come as the foremost option for investing in real estate. The marketing and the quality of services and life are unmatchable. They have remained consistent in providing the same standards of living, security and all that is necessary to live an uninterrupted and hassle-free life which makes them the first choice for the real estate investors in Pakistan.

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5 Reasons You Should Invest in Naval Anchorage Gwadar

With all the prominence and fame of the CPEC, Pakistan is surely experiencing a high-level of economic development and growth. The real estate sector of Pakistan is the one that is blessed the most.

Among many prominent projects, the Gwadar Port is one of the most significant developments in the CPEC project. The Gwadar deep sea port is becoming the hub of international business and is thus successfully grabbing the attention of the international community and investors from all over the globe. This port is believed to be having a direct and prominent impact on the development of Pakistan on the whole and is expected to boost the economy of Pakistan visibly.

Considering the potential of the project the Pakistan Navy has come up with amazing development ideas among which the Naval Anchorage Gwadar is the most appreciated. The Naval Anchorage Gwadar is a housing society in Gwadar that is under the supervision of the Pakistan Navy Benevolent Association.

The Naval Anchorage has already executed and delivered a number of high-quality projects in Islamabad. The Naval Anchorage Gwadar was initiated back in 2017 and the USP of the scheme is that it is offering a competitive rate for residential plots and is becoming a new world of accommodation for those who are willing to be a part of the Gwadar and take benefits from all of its residential and commercial potential. The Naval Anchorage is believed to be a lucrative opportunity for the investors who are interested in Gwadar port city.

1- Location of Naval Anchorage Gwadar:

The Naval Anchorage Gwadar is located at the junction of the Coastal Highway and the Rakshan Avenue.  The Naval Anchorage Gwadar is located right at the zero point and is expected to cover about 450 acres of land. In the Naval Anchorage Gwadar, about 100 acres of land is solely dedicated to the greener including recreational parks and other green facilities.

2- Development Progress of Naval Anchorage Gwadar:

Approved by the Gwadar Development Authority and the NOC, the Naval Anchorage Gwadar is an authorized plan with a vast area under the agreement. Apart from 100 acres of the total lands that are dedicated to green plans, the Naval Anchorage Gwadar is planned as a gated community. The developers at the Naval Anchorage Gwadar are keeping their expectations realistic and thus are not promising anything that they are not able to or are not possible to be delivered. However, in any case, the project is a healthy investment opportunity because of the direct involvement of Pakistan Navy.

For the role of Navy, the investors can stay optimistic that whatever is promised will be delivered sooner or later but for sure. Not only the Navy can be a reason for investing in the Naval Anchorage Gwadar, but it is offering everything that can make the life of a person convenience including; high-class health care facilities; recreational facilities; schools, colleges; universities and many other planned amenities likes shopping malls etc.

3- Project features of the Naval Anchorage Gwadar

The salient features of the Naval Anchorage Gwadar include;

        More than 100 acres of green spaces only

        A residential project of more than 140 acres

        NOC and Gwadar Development Authority approved

        Airport located at the drive of 5 minutes

        Akra Dam is located at about 8 km away

        A gated and fully secure community

        World class healthcare facilities

        Self-sustaining amenities

        A network of schools, colleges and universities

        Secure and safe environment

        Gwadar port at about 20 minutes’ drive

        Jinnah Avenue at about 5 minutes’ drive

4- Plots at the Naval Anchorage Gwadar

At the Naval Anchorage Gwadar the plots are offered in the division of 5 Marla, 10 Marla, 1-Kanal, and in 2-Kanal residential plots.

5- Market Value of Naval Anchorage Gwadar

The Naval Anchorage Gwadar is surely an amazing investment opportunity. But the prices of the plots in here have fallen exclusively in the recent times. A few months back the prices fell for almost half of on what they initially started off. This case is more prominent for the cash files while the instalment files are not the same attitude. According to the financial specialists suggest buying less expensive plots or the one that are offering moderate rates at the Naval Anchorage Gwadar.

An Overview of the Investment Opportunities at the Naval Anchorage Gwadar:

Because of the direct mix of the components, the Naval Anchorage Gwadar is believed to be a long haul of investment. In this way, if one makes a long haul inspection the Naval Anchorage Gwadar can confidently take as the right place for investment in or around Gwadar. At the same time, the Naval Anchorage Gwadar can fill in as a takeoff for your investment venture and will give you the response same as that of the Gwadar Port itself.

According to the experts, those who have monetary allowances to pay everything it is better to put their resources into the cash files and this suggestion is purely based on the extensive measures for the distinction in the prices at the Naval Anchorage Gwadar.

With the realistic expectations, the Naval Anchorage Gwadar has effectively included the easy to deal with paying more for the instalments for cash files at the Naval Anchorage Gwadar. For all the said reasons the lodging plan looks hopeful and come with the guarantee of the facilities that include medical services, and all other amenities and necessities for life.

For those investors who are looking to secure their investments, secure their future and make some benefits out of the invested amount in coming future, the Naval Anchorage Gwadar is surely a good option. Backed by the Pakistan Navy the project surely comes with a number of benefits and security to the investment. The Naval Anchorage Gwadar has huge potential and benefits for the investors’ and the new infrastructure projects can be developed in Gwadar in the coming future. With the fast-paced development of the CPEC and the Gwadar Port City, today is the right time to make a decision and take the first step towards securing your own property at the most prominent location like Naval Anchorage Gwadar.

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CPEC a result of China’s Reform and Opening-Up policy

BEIJING: Pakistan is among the top countries taking benefit from China’s reforms and opening-up policy that is meant to benefit the world at large, promoting President Xi Jinping’s vision of shared destiny.

According to a Chinese media outlet, the Belt and Road’s initiative and China Pakistan Economic Corridor (CPEC) is the result of this policy that has changed the global economic landscape and value chain, and this may be just “the beginning of an unfolding historic trajectory” as China vows to further open up its economy.

The Chinese Ambassador in Islamabad Yao Jing said here recently while addressing China’s 69th Anniversary of the Founding that reform and opening up has been an unprecedented success, combining correct policies and relentless hard work.

The policy has unleashed the incredible market potential in China and enabled its transformation into a critical global manufacturing base and a large consumer market for other economies.

2018 is the 40th anniversary of China’s reform and opening up, and it is also a crucial year for securing a decisive victory in building a moderately prosperous society in all respects and for continuing to implement the 13th Five-Year Plan.

Under the leadership of the Central Committee of the Communist Party (CPC) of China with Xi Jinping at the core, and with the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, they are integrating personal and family dreams into national dreams, striving to realise the great rejuvenation of the Chinese nation and contributing more wisdom and strength to safeguarding world peace and development.

The development of China provides opportunities for the world and the region. As President Xi Jinping said, “a prosperous and stable world provides China with opportunities, and China’s development also offers an opportunity for the world as a whole. Whether we will succeed in our pursuit of peaceful development to a large extent hinges on whether we can turn opportunities in the rest of the world into China’s opportunities and China’s opportunities into those for the rest of the world.”

For achieving this goal, China adheres to the principles of peaceful development, cooperation for a win-win outcome.

This year, China successfully hosted the Boao Forum for Asia Annual Conference, the Shanghai Cooperation Organisation Summit in Qingdao and the Forum on China-Africa Cooperation Summit. In this November, China also hosted the first China International Import Expo in Shanghai.

The five major events hosted by China show China’s new prospects of deepened reform and expanded opening-up, reiterate the concepts of mutual trust and benefit, equal-footed consultation, respect for diversity of civilizations and pursuit of common development, jointly advancing the Belt and Road Initiative (BRI) to realise its high-quality development.

These prospects, concepts and actions of China’s diplomacy have been broadly welcomed and supported by countries around the world.

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Donations underway in China for the families of martyred policemen of the Chinese Consulate attack

The relations between both the countries are not only between the governments level, but it is people to people friendship which has developed over the years.

The response from people of China  on terrorist attack on Chinese consulate   was some of the best  examples  of  true friendship.

While Pakistani policemen laid down their lives to save Chinese staff members at the Karachi consulate, the people of China were not oblivious to the sacrifices and the losses incurred  by their Pakistani friends.

As soon as the terrorist attack was over, the government confirmed that two policemen and a security guard lost their lives in the line of duty, while all 21 members of the Staff at the Chinese consulate were  safe and sound, people in China took to social media platforms to thank the government and security agencies of Pakistan for their swift response that saved lives of their countrymen.

Their reaction was not confined to paying homage to the martyrs only and they went on to  make appeals for donations for the Pakistani men martyred in the attack.

Lijian Zhao, a senior Chinese diplomat in Islamabad, on Saturday took to Twitter and shared the screenshots of activities on Chinese social media which he said showed appeals for donations.

He also posted the pictures of the two policemen who lost their lives.

“China & Pakistan are iron brothers. This is a people to people friendship. Besides awards from govts, Chinese people volunteered to make donations for families of 2 Sindh policemen & 1 security guard who sacrificed lives for protection of Chinese Consulate General in Karachi.” he said in his Twitter post.

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Enemies trying to hamper the progress of CPEC: FM

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi Friday said that some anti-Pakistan forces wanted to sabotage China Pakistan Economic Corridor (CPEC) project and vowed that perpetrators of Chinese Consulate attack in Karachi would be brought to justice.

Talking to a private television channel, he said the Chinese government had appreciated the timely action of Karachi police and expressed sympathies with the bereaved families of martyred police.

To a question, the foreign minister said Prime Minister Imran Khan wanted to attend the National Assembly sessions but the opposition behavior in the House had been very aggressive.

Qureshi said the Opposition instead of Shahbaz Shaif should nominate someone else for Chairmanship of Public Accounts Committee. He said the Prime Minister would not compromise with corrupt people and added that the Prime Minster would take the nation into confidence on November 29.

He said the tense atmosphere created by the Opposition in the Parliament was in nobody’s interest. He said that it was a long desire of the Opposition to dislodge the PTI government, but added that the treasury benches should have patience.

He said the government had no objection over a Charter of Economy as it wanted to have consensus on it and resolve economic problems of the country. He added that the government wanted to bring a long-term policy for economic turnaround of the country.

Terming the Prime Minster’s visit to China very encouraging and successful, the foreign minster said, the Chinese leadership had given a clear message to Pakistani leadership during this visit.

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Minister for Planning condemns attack on Chinese Consulate

ISLAMABAD: Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar Friday condemned attack outside Chinese Consulate in Karachi and termed it a conspiracy against China Pakistan Economic Corridor (CPEC).

He said such cowardice act cannot sabotage Pak-China relations and progress of CPEC projects.

“This act by detractors fueled by malafide intentions will rather further strengthen our resolve to broaden the scope of cooperation under CPEC,” he said and added that all out efforts would be made to ensure security of Chinese friends who are actively engaged in development of Pakistan.

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Pakistan-China friendship higher than Himalayas, attack on Chinese consulate a bid to sabotage CPEC: PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan on Friday saw terrorist attack on Chinese consulate in Karachi an attempt to sabotage China Pakistan Economic Corridor (CPEC).

According to state TV, The prime minister expressed resolved to bring the criminal minds behind the attack to justice.

“China  and Pakistan share a friendship higher than the Himalayas and deeper than the deepest seas,” he was quoted as saying by PTV.

The attack on Chinese consulate in Karachi’s Clifton area left three terrorists dead and two policemen martyred earlier in the day.

Earlier, Foreign Minister Shah Mehmood Qureshi told the National Assembly that all Chinese staff members remained safe in the attack.

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Romania exploring the prospects of CPEC

ISLAMABAD, Pakistan: The Romanian Ambassador to Pakistan Nicolae GOIA has said that his Country is the fastest growing economy in Europe and there is a great potential for improving Pakistan-Romania bilateral trade.

In his address at a Conference on “Pakistan-Romania Friendship and Centennial Celebrations of Romania” organized by the Center for Global & Strategic Studies (CGSS) in collaboration with the Romanian Embassy in Islamabad on Thursday to celebrate the 100 years of unity of Romania, Nicolae GOIA said that Pakistan and Romania have been enjoying historical friendship and traditional cooperation in many fields for the past many years but there is a need to enhance trade volume between both Countries.

The ambassador said that the economic and trade relations between Pakistan and Romania have been growing for the last decades and Pakistan is an important trading partner of Romania.

“Our main priority is to increase and diversify the commercial exchanges between Romania and Pakistan, in a balanced manner for exports and imports,” he said.

The Romanian ambassador said that besides the bilateral cooperation through mutual investments, we are also interested to find options of working together on the third markets where, Romania and Pakistan might conjugate their resources and energies in the most constructive way.

Nicolae GOIA said that Romania and Pakistan do have common areas of interest both geographically and thematically. He said that the common interest of developing sectors as IT and communications, civil constructions and infrastructure, agriculture etc.

Earlier in his Opening Remarks at the Conference, the President CGSS Major General (retd) Syed Khalid Amir Jaffery said that both Pakistan and Romania are looking to expand economic cooperation as well as to enhance their import and export ties.

Major General (retd) Syed Khalid Amir Jaffery said that both the Countries have agreed to expand their bilateral defense cooperation, and currently they have different agreements in defense production and relevant areas.

The president CGSS said that the participation of Romania in the China Pakistan Economic Corridor (CPEC) can also bring Pakistan and Romania close together by creating business and trade opportunities.

Syed Khalid Amir Jaffery said that Romania is exploring the prospects of benefitting from the CPEC project. He said that Pakistan needs to project CPEC by inviting Romanian companies to invest and participate in the CPEC.

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Five new berths to be added to Gwadar deep sea-port

BEIJING: The Gwadar deep-sea port development will gain further momentum as work on its expansion plan is set to start from January, director general, Planning and Development, Gwadar Port Authority, Munir Ahmed Jan said on Tuesday.

Under the expansion plan, five new berths would be added to the existing three berths for handling bigger ships, he said while talking to APP.

Munir, who recently visited the Chinese capital to attend the China Pakistan Economic Corridor (CPEC) Media Forum, said the first phase of the port, an important component of the China-Pakistan Economic Corridor, has already been completed.

“Now, we have entered the second phase, which will ensure 16 meters depth to facilitate bigger ships,” he said.

The existing port has three 14-meter deep berths to handle ships and is the deepest port in Pakistan. In future, the depth of the port would be increased to 20 meters, making it the port deepest in the region, he added.

Development and expansion of the port have been leased to China for 40 years. “The pilot phase of the free economic zone has already been completed.”

In the initial stage of the project, $48 million were invested by five Chinese and three Pakistani companies. “The main coverage area of the free economic zone will be 923 acres, and work on it is likely to start in the next phase.”

About Eastern Bay Express, he said the work started in October this year and would be completed in 30 months. “It will be an express access way linking the Gwadar Port to the Coastal Highway,” he added.

The development work of the port is ahead of the timeline as far as the construction of different projects of the port is concerned.

The Gwadar Port development and allied facilities would generate employment opportunities for locals after resolving power and water issues.

The work on Pakistan China Vocational and Technical Institution would start soon to meet the demand of the skilled workers for the port and free zone.

The land has been acquired for the purpose, while the design and feasibility study have also been completed.

The construction work was expected to begin by the end of this year, the port DG informed.

He said Gwadar port master plan would be launched in December, as it has been completed.

The DG was confident that it would enhance business and trade activities.

Munir Jan said at the micro level, Gwadar was witnessing a number of activities. A lot of local and foreign visitors come and stay here.

“The national flag carrier, PIA has a daily flight and hotels have 100 percent room occupancy and are running a good business.”

About the new Gwadar airport construction, he said it would be completed with the Chinese grant. All the initial work including design and the feasibility study has already been finalised and the groundbreaking was likely to be performed in January, he added.

One of the largest planes, A-380 could land at the airport which would be completed in 36 months.

This year, two important events, including an expo and Asian Parliament Association Assembly were organised in the Convention Centre to seek further investment.

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