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

Sindh Assembly passes resolution for constitutional benches

The Sindh Assembly on Monday passed resolution for the formation of the constitutional benches in…

24 seconds ago
  • Pakistan

Gilani for relentless efforts, innovative approach to achieve SDGs

Acting President Syed Yousuf Raza Gilani on Monday highlighting the country's multiple initiatives to achieve…

29 seconds ago
  • Pakistan

Balochistan CM expresses concerns over surge in polio cases

Balochistan Chief Minister Mir Sarfraz Bugti on Monday expressed concerns over the recent surge in…

1 min ago
  • Pakistan

Court grants bail to Azam Swati in eight cases

In a significant ruling, an Anti-Terrorism Court has granted bail to Pakistan Tehreek-e-Insaf (PTI) leader…

1 min ago
  • Pakistan

Pollution serial killer in Pakistan’: Sherry Rehman

Chairperson Senate Standing Committee on Climate Change and Environmental Coordination, Senator Sherry Rehman on Monday…

4 mins ago
  • Pakistan

Intizar Panjotha case a matter of shame for institution, people: IHC

The Islamabad High Court (IHC) has directed the Kohsar police station to investigate the case…

4 mins ago