PM says Kashgar-Gwadar corridor to open trade avenues

Prime Minister Friday said that the Gwadar-Kashgar corridor will generate employment opportunities and bring prosperity to the country.

Speaking at a meeting at the Prime Minister’s Office to discuss the Kashgar to Gwadar Economic Corridor he said that the project would open up new areas for economic activity and generate employment.

He said about three billion people of the region will benefit from this project, adding the corridor will provide China an easy access to the Middle East and Europe‚ which will also benefit Pakistan.

“The project will help save time‚ cost and freight charges‚ as it is the shortest route between China‚ the Middle East and European countries through Gwadar port.” 

He said A Chinese delegation is arriving in Islamabad on Monday to review the proposed economic corridor project.

The Prime Minister said special economic zones will be established along the economic corridor. He said Chinese companies have shown their willingness to set up industries in the economic zones.

The Prime Minister said that Gwadar port has the potential to become a free port, adding that a special status like the Hong Kong can be awarded to Gwadar.

Referring to the Economic Corridor, the Prime Minister said both sides were taking keen interest in the project as not only China but the entire region would benefit from this mega project.

He recalled his earlier meetings which discussed the Trade Corridor from Kashgar to Khunjerab and Gwadar and in principal, approved the proposed alignment of Pak-China Trade Corridor, with the directions to further evaluate the proposal in terms of time and cost efficiency.

Nawaz Sharif recalled his Chinese visit where the Chinese side expressed concerns about security situation in Pakistan, adding Pakistan had to tender apologies for the killings of Chinese nationals in terror-related incidents.

“How long will we tender apologies? We need to rectify the wrongdoing,” the Prime Minister said.

He said the Gwadar Port would help reduce the time needed for transportation of Chinese exports from 16 to 4 days, besides reducing the cost considerably.

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Posted by Tahir Khan on Aug 23 2013. Filed under Latest News, National, Pakistan. 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.