This port is not only for Pakistan but also all regional states. Business | 2021-12-31 09:15:01 Pakistan, China vow to tap full potential of Gwadar port, free zone. A short summary of this paper. Pakistan is trying to connect the Gwadar Port with Central Asian, Iran, Russia, and Eurasian States through Afghanistan. China and Pakistan agreed to build the China-Pakistan Economic Corridor (CPEC) to connect the Pakistani port with Kashgar city in China's Xinjiang Uygur Autonomous Region. This research work will conceptualizes the Gwadar facility as a hub port that . The new tax exemptions that the Pakistani government has rolled out in subsequent meetings have made the motives clear. The Gwadar Free Zone can bring in substantial investment opportunities. Gwadar port has largely developed a trade route for China's landlocked western region. 43-50). including USD 4 million Gwadar Smart Port City Master Plan. Pakistan's Gwadar port has very strategic significance. Gwadar port has benefits not only for Pakistan but for the region at large. Pakistan Prime Minister Shehbaz Sharif on Saturday hit out at the previous government led by ousted premier Imran Khan for "miserably" failing the people of Gwadar, a day after he visited the port city in Balochistan and inaugurated a six-lane expressway built under the USD 60 billion China-Pakistan Economic Corridor. By Aqib Rauf Abbasi | Published May 31, 2022 | 10:51 pm. The port is located just outside the Strait of Hormuz, which handles 20% of the global oil trade. However, only three schemes have been declared completed by the CPEC Authority, including USD 4 million Gwadar Smart Port City Master Plan. Pak. saima perveen WUS. A Chinese worker stands near trucks carrying goods during the opening of a trade project at Pakistan's Gwadar Port on Nov. 13, 2016. . Journal of Int'L Affairs, Vol 4, Issue 4 (2021) Future Prospects of Pakistan China Relations 379 CPEC is an assignment that interfaces the decisively basic city of Gawadar in Pakistan's The geo-strategic position of Paki stan will play a vital role in the . This port provides an opportunity for Pakistan to control the global energy corridor and if need be, interdict tankers in the Persian Gulf. the economic plan for Gwadar needs to be reassessed in . It is the clear-cut example of 'Shifting of Pakistan's Foreign Policy towards geo-economic from geo-strategy. BEIJING: Pakistan's strategic Gwadar Port, being developed by China under a $50 billion initiative, will have a unique place in Beijing's ambitious plan to link itself to the Middle Eastern market and expand its economic influence in the region, according to a top Chinese diplomat. The expansion of Gwadar port will also provide Pakistan an opportunity to strengthen its regional relationships. Gwadar port makes Pakistan a more strategically significant state in the region. The findings revealed that the Gwadar port will be a keystone in the economic revival of Pakistan as well as Baluchistan. Either you are looking not economic benefits of gwadar port to pakistan, but some other Pakistan breaking news, then just use search form to find news related to economic benefits of gwadar port to pakistan. . After decades of dismay, Pakistan has a long way to go in promoting predictable economic performance, with the GDP growth target of 5.1 per cent for the 2003-2004 fiscal year being greater than 5.8. 5 Kausor Takreem, Chinese Trade through Gwadar Port: Benefits to Pakistan (PhD dissertation, Area Study Centre, University of Peshawar, 2013), 219. Iran also unveiled its own plans for setting up the world largest refinery there with a production capacity of 400000 barrels per day . As an important early harvest project under the China-Pakistan Economic Corridor (CPEC), the 19.49-km expressway was officially started in 2017 by the China Communications Construction Company, with an aim to meet the urgent need of the locals in Gwadar and promote the sustainable development of the area. Gwadar will attract investors from around the world . Gwadar Port - CPEC | Documentary | - Benefits of Pak China Economic Corridor | PAKISTAN | 2021|Today, In this Short documentary, we will describe the Histori. ISLAMABAD - China has once again backed Pakistan amid an economic crisis and rising inflation. Debt-ridden Pakistan expects to tide over its current dire financial state and simultaneously develop stronger strategic ties with the Chinese that offer greater resilience against India. The Gwadar port alone is benefiting from $62bn worth of investments in infrastructure projects across Pakistan. (Source: Mehtab . Plans for a corridor stretching from the Chinese border to Pakistan's deepwater ports on the Arabian Sea date back to the 1950s, and motivated construction of the Karakoram Highway beginning in 1959. The CPEC is the flagship project of China's ambitious USD 60 billion Belt and Road Initiative (BRI) and it links China . Image. Miftah Ismail has said that the development of Gwadar Port and Gwadar Free Zone area has huge protentional as a part of the China Pakistan . "We see Gwadar as the harbinger of immense possibilities . Chinese interest in Pakistan's deep-water harbor at Gwadar had been rekindled by in 2002 China began construction at Gwadar port which was completed in 2006. Daily wage rates for labourers in Gwadar are much higher than in other parts of Pakistan. Pakistan's Gwadar port under the China's project 'Belt and Road Initiative' is going to be one of the top trade hubs in the region, linking the West Asian nations to (Commonwealth of Independent States) CIS countries. . To deliver oil and gas through the medium in a short time, Bangladesh can easily enter into the markets of Central Asian, West Asian, Eurasian markets using Gwadar Port and China-run 'China-Pakistan Economic Corridor'. As a flagship project of the "Belt and Road " initiative, China-Pakistan Economic Corridor (CPEC) covers 3000 miles of roads, railways and pipelines, aiming to form a comprehensive network of trade, industry, natural resources and energy, and transportation from Kashgar City of China's Xinjiang Uygur Autonomous Region to Pakistan's Gwadar Port. It is strategically located at the mouth of the Persian Gulf, just adjacent to the Strait of Hormuz, the key shipping route in and out of the Persian Gulf. 319. Consequently, the increased trade and commerce activities, particularly in Baluchistan province, would usher in an era of economic prosperity of Pakistan. The deepwater port was developed by China invested heavily in Gwadar to develop an economic corridor linking . It is estimated that CPEC would generate transit revenue of US$ 70 billion per annum through Gwadar port. Introduction Pakistan is one of the most strategically significant countries in the region. It executes 95 percent of its trade through blue, via its ports. In November 2017, it was estimated that about 20,000 Chinese nationals were employed as technicians and supervisors in CPEC projects. of Gwadar and it is finally turning into reality- something which entails immense economic benefits as it has the potential to make the country a hub of trade activities in the region. The Port is placed on the shores of the Arabian Sea in Balochistan. The potential of Gwadar and surrounding areas could not be realized in the past due to lack of knowledge about the benefits History Background. Pieces of lands have already been earmarked/acquired for the purpose: Gwadar port free zone: 2,281 acres Gwadar port is a center of attraction for the China Pakistan Economic Corridor project ( CPEC) which Beijing foresees as a key link to compelling China to be the world power. By Aqib Rauf Abbasi | Published May 31, 2022 | 10:51 pm. Chinese firms are enjoying the lion's share of benefits from the China-Pakistan Economic Corridor (CPEC) and its ill effect is directly affecting the local people of Pakistan. plete operationalisation of strategically located deep sea port. A recent statement by the Chairman of the CPEC Authority claims that, once completed, the Gwadar Port and Gwadar Free Zone projects would generate $10 billion worth of economic activity per year. An international airport is being developed at a cost of $230 million, under aegis of the Pakistan Defence Forces, at Gurandani, 26 km north east of the old Gwadar city. (Ge, 2015)1. Financing in the China-Pakistan Economic Corridor project, China not only takes into account its possess short- term economic benefits, but more significantly, cares about the long-term strategic need of Pakistani economic development (Li and Sun, 2015)2 . Project Description: At present following area has been allocated as a free zone of Gwadar. 37 Full PDFs related to this paper. Gwadar is situated on the south-western coast of the Balochistan province of Pakistan. The Gwadar port is situated on the Arabian Sea in Gwadar Pakistan, controlled by the Maritime Secretary of Pakistan and the operational control of China Overseas Port Holding Company. economic benefits of gwadar port to pakistan. Economic analysts predict that Gwadar, is rapidly turning into the main hub of international trade with everlasting business and commercial activities . Chinese . ISLAMABAD - China has once again backed Pakistan amid an economic crisis and rising inflation. The Military Estates Officer bought 6,600 acres for the airport at an estimated cost of Rs 1.05 billion. Gwadar will boost up the cooperation of Pakistan with other countries in oil and energy sector. Pakistan purchased Gwadar Importance for US$3 million and it . The port is a main feature in the China-Pakistan Economic Corridor (CPEC) plan, and is set to be the link between the Belt and Road Initiative and the Maritime . Using Gwadar port, Sri Lanka and Bangladesh can easily access into the markets of Central Asian states, Western part of China, Pakistan, even Afghanistan and Western Asian states. Miftah Ismail has said that the development of Gwadar Port and Gwadar Free Zone area has huge protentional as a part of the China Pakistan . Gwadar is a deepwater port in the Arabian Sea and a part of the Pakistani province of Balochistan. . It is known as a gateway to the oil-rich Middle . It has been stated by the author that Turkmenistan, Tajikistan and Uzbekistan will use Gwadar Port because they have close geographical proximity with Pakistan. It is known as a gateway to the oil-rich Middle . Gwadar or the "Gate of Wind" in Balochi is an incredibly important part of Pakistan's history and economy. May 31, 2022 . The increasing importance of Gwadar and the international economic clout around the port makes it an excellent starting ground for STU. China's 'String of Pearls Strategy 5.Gwadar , China's and GCC 5.1Strait of Malacca factor 6. | Find, read and cite all the research . As an important early harvest project under the China-Pakistan Economic Corridor (CPEC), the 19.49-km expressway was officially started in 2017 by the China Communications Construction Company, with an aim to meet the urgent need of the locals in Gwadar and promote the sustainable development of the area. It is an initiative towards the era of industrialization by establishing special economic zones. China-Pakistan Economic Corridor (CPEC) is an important corridor that will connect the private sectors of both the countries by bringing unprecedented investment. January 12, 2022. Although the seaport of Gwadar is in . Special Economic Zones would create huge opportunities of employment. The development of the Gwadar port holds out for the regional countries immense economic returns. There are big plans for Pakistan's southern coastal city of Gwadar. The construction of the Gwadar port is an important component of Pakistan's overall initiative to facilitate . ISLAMABAD: Chinese Ambassador Nong Rong has said that Gwadar Port, as the pilot project of the China-Pakistan Economic Corridor (CPEC), has now become a shining pearl for the region and would Gwadar-Kashgar Economic Corridor: Challenges and Imperatives for Pakistan and China. the vital role Gwadar Port could play in regional economic integration of South and Central Asia. Geographically significant Gwadar Port development will be a blessing for the economic development of Pakistan when the FDI has sharply fallen, poverty has increased to 41 per cent, economic losses due to war on terror' are as huge as $35 billion and the industrial sector is operating at 50 per cent of its potential due to the energy crises. Plans for a corridor stretching from the Chinese border to Pakistan's deepwater ports on the Arabian Sea date back to the 1950s, and motivated construction of the Karakoram Highway beginning in 1959. Gwadar port makes Pakistan a more strategically significant state in the region. CPEC can be used by other countries. All-weather allies Pakistan and China have agreed to use the full potential of the strategic Gwadar Port in Balochistan province, a major project under the CPEC that provides the Communist-giant an opening to the Arabian Sea. Full PDF Package Download Full PDF Package. To sum up, Gwadar Port has become a milestone in China-Pakistan friendship and has the potential for becoming the future economic and energy regional hub (Anwar 2010). There are a number of advantages of Gwadar port including strategic, geographic and economic advantages. 'China Pakistan Economic Corridor' (CPEC) has been formed around Gwadar. (Lim, 2017, pp. Since poverty is one of the main causes of the rise of militancy in Baluchistan, these economic benefits and the creation of jobs will minimize violence, and will eventually help in curbing the insurgency. Pakistan's exports to Sri Lanka have doubled. History Background. economic benefits of gwadar port to pakistan After Gwadar port was handed over to china a huge investment injected subsequently. The port is the showpiece of the China-Pakistan Economic Corridor project, which Beijing sees as a crucial link that will help it in its drive to become a world power. For instance, it said economic connectivity and integration with the landlocked Central Asian countries could provide the CAREC participating countries with efficient and effective access to global markets through the strategically located Gwadar port. Total trade is $ 400 million, with exports over $ 300 million whereas imports are less $ 100 million. By Pathik Hassan. Conclusion 7 . 7. Uncategorized No Comments economic benefits of gwadar port to pakistan . Pakistan, Afghanistan and Central Asian states would also benefit. Download Download PDF. Gwadar is a port city on the southwestern coast of Balochistan, Pakistan's largest city Karachi connects with Gwadar through 650 KM long Makran Coastal Highway. . News desk. Importance of Gwadar, Pakistan. Gwadar first came under Pakistani rule in 1958 after realizing its immense strategic importance. It is estimated that CPEC would generate transit revenue of US$ 70 billion per annum through Gwadar port. As an important early harvest project under the China-Pakistan Economic Corridor (CPEC), the 19.49-km . Gwadar Port (Photo: Wikipedia) As one of the vital components of the China-Pakistan Economic Corridor (CPEC) framework, the Gwadar Port is suited to act as a gateway for the region owing to its location, Pakistani Foreign Minister Shah Mahmood Qureshi said Tuesday. Nov 17, 2021. GWADAR, Pakistan, June 6 (Xinhua) -- The inauguration ceremony of the China-aided Eastbay Expressway of Gwadar port was held on Friday in Gwadar city of Pakistan's southwest Balochistan province. The port is to be developed into a full-scale commercial port as per the contract. Analysis of Economic Survey of Pakistan FY2021 showed that Gwadar Port is about 630 km away from Karachi and 120 km from the Iranian border. The Corridor connects three economic regions . Taking benefit of the country's strategic location and deep-rooted friendship with China, Pakistan can materialize the dream of economic prosperity and development, the prime minister said while addressing a groundbreaking ceremony of several projects at the country's southwest Gwadar port, including the start of the construction of the . (Ge, 2015)1. Financing in the China-Pakistan Economic Corridor project, China not only takes into account its possess short- term economic benefits, but more significantly, cares about the long-term strategic need of Pakistani economic development (Li and Sun, 2015)2 . Pakistan is building a port at the south-western city of Gwadar on the mouth of the oil rich Persian Gulf. This study was earlier conducted in socio-economic prospects of STU for households within the demographic location of district Abbottabad, Pakistan [22] the results were 65% in favor of STU. Islamabad [Pakistan], June 3 (ANI): Chinese firms are enjoying the lion's share of benefits from the China-Pakistan Economic Corridor (CPEC) and its ill effect is directly affecting the local people of Pakistan.