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Apr 11, 2017
CPEC

Pakistan’s flourishing shipping industry

Ever since the start of industrial activities at Gwadar port, it has been the hub of trade and shipping. It has played its vital part in the economic developments of the country lately. If we look at the history, Gwadar was ignored and kept backward for so many years. But now, those days are over. Everyone has seen the worth of this port. Both inbound and outbound trade has flourished. Making use of this port has tons of benefits to the industry and trade between Pakistan and china. Now Sending Cargo to Pakistan has become easier than before. Both countries have joined hands for a $55 billion worth China-Pakistan Economic Corridor.

Gwadar port has a central role in this project as most of the shipments will be carried out through this port. CPEC itself is huge leap forward connecting both countries. Many economic projects including power generation, infrastructure including roads and railways, ports and manufacturing industries.

A Bright Future

The increase in shipping business will benefit the industry in many ways. With the trade flourishing and prospering, more ships will be needed in the future to meet the amplified needs. As a result of which more ships will be built putting more activity in ship building industry. It will open opportunities for employment. It is also sure to generate profit from this business.

Benefit of Location

Gwadar Port has a benefit because of its prime location. It is situated approximately 530km from Karachi and 120km from Pakistan’s border with Iran. This port also provides an outlet to China for shipping goods. The successful completion of this project is hoped to gain attention of other developed countries of this region and urge them to invest money here. Long story short, owing to its central position Gwadar is going to change the fate of Pakistan.

CPEC – a Game Changer

The world has its eyes on this mega project since its launch. Many countries have showed keen interest due to its profiting future and regional connectivity. China is the main stakeholder who is to benefit from this project. A 2000km corridor will let China trade its goods to the world through Pakistan. The route starting at Gwadar lets China follow the shortest path to access Middle East, Africa and to most countries in the West. Shipping analysts say that shorter route can be meaningfully translated into manifold increase in supply. This will render more profitable business for suppliers by quicker supply of goods and ability to fulfill increased demand. Providing China with this route is in Pakistan’s interest as well. This project is going to have a remarkable positive impact on the overall economy of the country by opening new gates for investment and employment.

This project has helped in strengthening the bond between Pakistan and china. China has always stood for Pakistan through thick and thin and massive investment in this project is a proof of this. After the completion of CPEC, this project will also be attractive for Singapore, Iran and other countries for exporting goods and investing in Pakistan.

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