Pakistan China Economic Corridor and Its Significance

Gwadar the next economic hub

Gwadar Port is a deep-sea port. It is one of the largest ports and is present in the Arabian Sea. It uses for the supply & import requirements. Likewise, in many harbors of Pakistan, the Gwadar port is the best for the economic hub. The Gwadar port is in at Gwadar in Baluchistan. The prediction about the Gwadar port is that it is the trump card in the economic field. The trade routes between the Asian States and the whole world have become easier.

This port is great for the interchange trans-shipment from the Gwadar port to other ports. This port also links with many other projects. One of the notable projects is the CPEC plan. The significant importance of the Gwadar port is the trade between Pakistan & China. There must see economic development in both Balochistan and all of Pakistan. The Gwadar port will ensure the great economic status in entire Pakistan.

In addition to it, China is investing in this port. China wants to make this port a central point for the trading of their products. As a result, the Gwadar port becomes a central point of trade of the complete world.

Trans-shipment:

The trans-shipment facility provides an advantage to the Pakistan and whole world. As compared to other ports, the transport of transit cargo from Gwadar is easier. The use of the Gwadar port has great importance. There is no requirement of using road infrastructure for transporting. All other countries need to spend less money on the transporting purpose. The economic condition of Pakistan becomes better when countries use this port.

Trade and Business:

Trade and business are meaningful ways of earning money. The trade between the countries becomes easier through the use of the port. The Gwadar port provides the easy way for the import & export all over the world. Gwadar is the “Meeting Point” between the seller and the buyer.

Manufacturing Industries:

The seaport with the transport facility increases the value of the port. Besides Gwadar port, there is no other shorter way of transport of mineral resources of Central Asia. The Asian countries will get great benefits if they use Gwadar port.

Gas/Oil refinery:

Gawadar Port is the best to use as an energy port. Many countries use the Gwadar port for the transportation of oil to other states. For instance, Iran utilizes this way to transport oil all over the world. Some other countries including India supply the “Liquid Natural Gas” from this port. Similarly, the Middle Eastern oil goes to China from this port.

The economic significance of Gwadar:

The Gwadar is the town of fisherman. The population is more than fifty thousand people. The coastal highway connects the Gwadar with Karachi. The master plan for the economic need was prepared and also the construction of roads completed. There is an Export Processing Zone (EPZ) of 46,000 acres. This land is for import and export use. It is great to say that the Gwadar is the next economic hub.