Pakistan, Turkmenistan to sign MoU for Gwadar port access under CPEC

Author: inp

Pakistan and Turkmenistan are set to sign a Memorandum of Understanding (MoU) that would grant Turkmenistan access to Gwadar Port under the China-Pakistan Economic Corridor (CPEC) framework. This agreement, facilitated by the Special Investment Facilitation Council (SIFC), would make Turkmenistan the first Central Asian country to gain such access through CPEC.

The primary objective of this accord is to establish regional and international cooperation for the movement of goods and containers, leveraging the potential capabilities of both nations’ ports. This development aligns with ongoing collaborative projects between Pakistan and Turkmenistan, including the TAPI pipeline, railway track, and fiber connectivity initiatives, aimed at linking South and Central Asia.

In preparation for this agreement, the Pakistani government has formed a committee to review the draft agreement between Gwadar and Turkmenbashi ports under CPEC. Additionally, a separate cabinet committee has been established to approve 50% of public sector imports through Gwadar Port.

The development of Gwadar Port is expected to generate employment opportunities, stimulate economic growth, and attract foreign investment by enhancing regional connectivity. High-level governmental efforts, supported by SIFC, are underway to promote Gwadar as a global trade hub.

The implementation of CPEC projects is anticipated to foster economic stability and prosperity while strengthening economic and trade relations with other countries in the region.

Share
Leave a Comment

Recent Posts

  • Pakistan

Gandapur, Bushra Bibi Resurface at KP Assembly Speaker’s Residence Amid Political Turmoil

Former Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur and Bushra Bibi, wife of PTI founder…

10 hours ago
  • Top Stories

Trump’s team signs formal transition agreement with Biden administration

US President-elect Donald Trump's transition team has officially signed a memorandum of understanding with the…

10 hours ago
  • Pakistan

Pak-US relations have huge potential to grow: US experts

Relations between Pakistan and the U.S. have the potential to grow and scale up in…

10 hours ago
  • Pakistan

Imran calls for ‘fight till the end’ as govt rules out talks

Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan has lauded his party's supporters in Islamabad and D-Chowk,…

20 hours ago
  • Pakistan

Pakistan, Belarus to fast-track bilateral deals, sign several MOUs

Pakistan and Belarus on Tuesday agreed on the early realization of bilateral accords to enhance…

20 hours ago
  • Pakistan

Kurram clashes death toll rises to 99 as truce falters

The death toll from the recent violence that has plagued the Khyber Pakhtunkhwa's Kurram district…

20 hours ago