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 . The port is located just outside the Strait of Hormuz, which handles 20% of the global oil trade. Before this, it was an overseas possession of Oman from 1783 to 1958. 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. This research work will conceptualizes the Gwadar facility as a hub port that . 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. 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. Pakistan, Afghanistan and Central Asian states would also benefit. The port is to be developed into a full-scale commercial port as per the contract. Economic analysts predict that Gwadar, is rapidly turning into the main hub of international trade with everlasting business and commercial activities . Sri Lanka can use Gwadar Port for warehousing to facilitate trade with Afghanistan, Central Asian Republics and Middle East. The other two schemes are the Physical Infrastructure of Gwadar Port . 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. 1. Gwadar will boost up the cooperation of Pakistan with other countries in oil and energy sector. June 1, 2020. -. There are big plans for Pakistan's southern coastal city of Gwadar. Total trade is $ 400 million, with exports over $ 300 million whereas imports are less $ 100 million. Gwadar port has benefits not only for Pakistan but for the region at large. There are a number of advantages of Gwadar port including strategic, geographic and economic advantages. A short summary of this paper. The Gwadar port and the highways connecting it to Afghanistan reduce the distances of Pakistan-Central Asia traffic by about 500 km. Gwadar Port - CPEC | Documentary | - Benefits of Pak China Economic Corridor | PAKISTAN | 2021|Today, In this Short documentary, we will describe the Histori. PDF | Pakistan is located at the center of the Indian Ocean, making it a coastal state. Pak. The warm-water, deep-sea port, located at the mouth of the Persian Gulf in Gwadar in southwest Pakistan has already been put into operation. News desk. It is estimated that CPEC would generate transit revenue of US$ 70 billion per annum through Gwadar 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. China-Pakistan Economic Corridor (CPEC) is an important corridor that will connect the private sectors of both the countries by bringing unprecedented investment. As an important early harvest project under the China-Pakistan Economic Corridor (CPEC), the 19.49-km . Project Description: At present following area has been allocated as a free zone of Gwadar. . plete operationalisation of strategically located deep sea port. A Chinese worker stands near trucks carrying goods during the opening of a trade project at Pakistan's Gwadar Port on Nov. 13, 2016. . 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. China and Pakistan are working together to establish 'Gwadar port' into a regional hub. Nov 17, 2021. The Port is placed on the shores of the Arabian Sea in Balochistan. The new tax exemptions that the Pakistani government has rolled out in subsequent meetings have made the motives clear. 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. China, and emphasize that through Gwadar port Pakistan can offer itself as a gate way and hub of trade for the region as it is located at the edge of Persian Gulf, Middle East and is very close to the main sea routes. Development of Port and Free Zone; Project Objective: This project will aim at creating a backup port industry for Gwadar Port. Conclusion 7 . Pakistan's foreign exchange reserves fell below $10 billion this week, threatening to turn into a full-blown economic crisis unless policy makers secure a loan from the International Monetary Fund which is now expected soon as the government has almost accepted all demands of the IMF. economic tube of the region. 43-50). This will help in improving the lifestyles of countless Pakistanis as they enjoy higher disposable incomes, spending money on other goods and services to strengthen the overall economy of the country. (Source: Mehtab . 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). 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. STRATEGIC AND ECONOMIC TRADE ROUTES: The Gwadar port is important for Pakistan and also for China from economic point of view. It is the clear-cut example of 'Shifting of Pakistan's Foreign Policy towards geo-economic from geo-strategy. Gwadar will attract investors from around the world The Gwadar Port is also a point of confluence between the Chinese Maritime Silk Road and the BRI. Image. (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 . 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. This is the third deep-sea port in Pakistan and will provide huge economic and strategic benefits to the country. By Aqib Rauf Abbasi | Published May 31, 2022 | 10:51 pm. 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. . It is located in Pakistan's largest and most populous Balochistan region and is strategically situated at the mouth of the Persian Gulf. 'China Pakistan Economic Corridor' (CPEC) has been formed around Gwadar. 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. However, only three schemes have been declared completed by the CPEC Authority, including USD 4 million Gwadar Smart Port City Master Plan. The Military Estates Officer bought 6,600 acres for the airport at an estimated cost of Rs 1.05 billion. 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. 5 Kausor Takreem, Chinese Trade through Gwadar Port: Benefits to Pakistan (PhD dissertation, Area Study Centre, University of Peshawar, 2013), 219. China expects huge economic and strategic benefits from CPEC. The Gwadar port 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. 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 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. It has been stated by the author that Turkmenistan, Tajikistan and Uzbekistan will use Gwadar Port because they have close geographical proximity with Pakistan. economic benefits of gwadar port to pakistan. Iran also unveiled its own plans for setting up the world largest refinery there with a production capacity of 400000 barrels per day . ISLAMABAD - China has once again backed Pakistan amid an economic crisis and rising inflation. By Aqib Rauf Abbasi | Published May 31, 2022 | 10:51 pm. 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. Pieces of lands have already been earmarked/acquired for the purpose: Gwadar port free zone: 2,281 acres . Importance of Gwadar, Pakistan. Keywords: Balochistan, Gwadar Port, CPEC, energy, geo-strategic, challenges. The Gwadar port and the highways connecting it to Afghanistan reduce the distances of Pakistan-Central Asia traffic by about 500 km. Gwadar will increase job opportunities for Pakistani people and help in economic development through transit trade fees and foreign exchange reserves. ISLAMABAD - China has once again backed Pakistan amid an economic crisis and rising inflation. The findings revealed that the Gwadar port will be a keystone in the economic revival of Pakistan as well as Baluchistan. It is known as a gateway to the oil-rich Middle . . 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. 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. 2.Benefits of Gwadar Port to Pakistan and China 2.1 Gwadar as the shortest route for GCC oil to China 3.Gwader's economic and political impact on GCC 3.1 Geographic proximity of Gwadar 3.2 The 'Strait of Hormuz' Factor 4. Gwadar first came under Pakistani rule in 1958 after realizing its immense strategic importance. 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. the vital role Gwadar Port could play in regional economic integration of South and Central Asia. 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. economic benefits of gwadar port to pakistan The potential of Gwadar and surrounding areas could not be realized in the past due to lack of knowledge about the benefits Pakistan's Gwadar port has brought a new dream for the region. 7. 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. ISLAMABAD: Pakistan and China resolved on Thursday to redouble efforts to tap full potential of the Gwadar port and free zone and to ensure that the local population fully benefits from the projects launched in various sectors. Special Economic Zones would create huge opportunities of employment. The Gwadar port alone is benefiting from $62bn worth of investments in infrastructure projects across Pakistan. 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'. It provides a direct and shortest route to China, Afghanistan, and Central Asia. History Background. Due to Pakistan's geographical location and geographical strategy, it would take Pakistan to a higher level of geo-economic development. It is an initiative towards the era of industrialization by establishing special economic zones. Pakistan purchased Gwadar Importance for US$3 million and it . including USD 4 million Gwadar Smart Port City Master Plan. January 12, 2022. 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. It will change the fate of the country by decreasing poverty and generating employment for the educated and skilled young people by providing them with the opportunity to seek jobs in their home country. In November 2017, it was estimated that about 20,000 Chinese nationals were employed as technicians and supervisors in CPEC projects. Gwadar port makes Pakistan a more strategically significant state in the region. Introduction Pakistan is one of the most strategically significant countries in the region. The construction of the Gwadar port is an important component of Pakistan's overall initiative to facilitate . CPEC can be used by other countries. 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. Pakistan's exports to Sri Lanka have doubled. Pang said the construction of the . Gwadar is situated on the south-western coast of the Balochistan province of 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. the economic plan for Gwadar needs to be reassessed in . Daily wage rates for labourers in Gwadar are much higher than in other parts of Pakistan. Uncategorized No Comments economic benefits of gwadar port to pakistan . Gwadar-Kashgar Economic Corridor: Challenges and Imperatives for Pakistan and China. The port can give Chinese strategy significant donor leverage, linkage, control, or even influence in the Middle East, South Asia, and the Indian Ocean (Rakisits 2015 ). 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. 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. It is known as a gateway to the oil-rich Middle . Gwadar port makes Pakistan a more strategically significant state in the region. 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. Without bringing the people of Gwadar and surrounding areas out of the extreme poverty, China-Pakistan Economic Corridor (CPEC) - the multibillion-dollar project dubbed as the game changer for . (Lim, 2017, pp. This port provides an opportunity for Pakistan to control the global energy corridor and if need be, interdict tankers in the Persian Gulf. (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 . 37 Full PDFs related to this paper. Pakistan and China are making a considerable effort - and pledging close to USD 700 million in investment - to transform what was once a sleepy fishing town into a vibrant trade hub, complete with a seaport, airport, major road connections and a trade zone.