Pakistan formally hands over Gwadar Port operation to China

An agreement was signed in Islamabad on Monday about the Transfer of Concession Rights of Pakistan’s Gwadar Port Operations to a Chinese company.

Speaking on the occasion‚ President Asif Ali Zardari expressed the confidence that the award of the contract will open new opportunities particularly for the people of Balochistan.

“It will give new impetus to Pakistan-China relations and take a step further our political cooperation into the realm of economic cooperation,” he said after the agreement was inked.

The President said handing over of the operation of Gwadar Port to China is manifestation of our growing ties and also shows the trust Pakistan has in the Chinese ability to deliver on our infrastructure projects.

He said development of a trade corridor linking Xinjiang to the Middle East through Gwadar Port will enhance trade and commerce not only between the two countries but also in the region.

He said the port also has strategic importance for China as around sixty percent of China’s crude oil comes from the Gulf countries that are close to Gwadar.

He said Gwadar is now a potential hub of trade and commerce in the region. It also holds the key to bring together the countries of Central Asia.

Referring to the tragic bomb blast in Quetta, the President said “we cannot be terrorized by such coward attacks.”

In his speech on the occasion‚ Ambassador of China Liu Jian said the transfer of Gwadar Port to China will bring tangible benefits to the two countries and contribute to peace‚ stability and development of the region.

He said Gwadar Port is part of greater framework of economic cooperation between Pakistan and China.

The President said it is an auspicious development in Pak-China relations as well as for the people of Pakistan particularly Balochistan and it will open an era of “new opportunities”.

The President said Gawadar will soon be a hub of trade and commerce in the region and it holds the key to bring together the countries of Central Asia and lending a new impetus to Pak-China relations.

President Zardari also highlighted the strategic significance of the port for China and Central Asian Republics and its potential of integrating the economies of the countries in the region.

He said the Chinese provinces of Xinjiang and Tibet are closer to Pakistani ports as compared to the ports in China adding that the development of a trade corridor linking Xinjiang to the Middle East via Gwadar Port held “huge promise”.

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Posted by Tahir Khan on Feb 18 2013. Filed under Latest News, National, Pakistan, Politics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.