Daily Times

The Ministry of Planning, Development and Special Initiatives on Friday announced the completion of the China Exhibition and Trading Center in a record time of six months at the Gwadar deep-sea port with the cost of $12 million.

The project was launched in November 2022 on the direction of Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal for promoting business and related activities at the Gwadar Port, a news release said.

Following the direction of the minister’s directives, the China Offshore Ports Handling Company (COPHCL) started construction of the project which has been completed on Friday.

Ahsan Iqbal has further directed to conduct the third International Expo Gwadar in the newly established EXPO center in June 2023, coinciding with the 10-year celebrations of the China-Pakistan Economic Corridor (CPEC) in July this year.

The Gwadar Ports hold immense significance as a key component of the CPEC and the broader Belt and Road Initiative (BRI).

Located strategically on the Arabian Sea, Gwadar serves as Pakistan’s premier deep-water port, offering a gateway to the Arabian Gulf, Middle East, and Central Asia.

The development under CPEC aims to transform Gwadar into a major trade and economic hub, facilitating regional connectivity and enhancing Pakistan’s maritime trade.

Gwadar’s potential as an energy and transport corridor, coupled with its strategic location, makes it a focal point for international investment and economic cooperation, driving economic growth and regional integration.