KARACHI – Pakistan has the potential to become a strategic trade hub connecting the East and West, Federal Minister for Planning Ahsan Iqbal stated during an event in Karachi. He highlighted that the country’s geographical location enables it to serve as a key commercial center for Central Asia, South Asia, and the Middle East.
Importance of Ports and Maritime Infrastructure
Addressing the audience, the minister emphasized the vital role of Pakistan’s ports, including Karachi Port and Port Qasim, in facilitating global trade. These commercial centers are being upgraded to meet international trade standards, ensuring efficiency and competitiveness in regional and global markets.
The event, organized by the Pakistan Navy, runs from November 3 to 6 and features 178 representatives from 45 countries, including major trade partners like Saudi Arabia, China, Turkey, the United Kingdom, and Egypt.
Maritime Economy and Employment Potential
Ahsan Iqbal stressed that over 80% of global trade occurs via sea routes, supporting employment for more than 350 million people worldwide. However, he noted with concern that Pakistan’s maritime sector currently contributes only 1% to the national economy, despite a coastline of over 1,000 kilometers and special economic zones covering 90,000 square kilometers.
Vision 2035 and Economic Goals
The minister outlined the government’s ambitious “Udaan Pakistan” plan, which aims to expand Pakistan’s economy to $10 trillion by 2035. He emphasized that strategic investment in ports, economic zones, and maritime trade is key to achieving this vision, positioning Pakistan as a regional and global economic leader.
