ECONOMY

China opens new trade route to Gulf, Middle East via Pakistani port

A view of Gwadar port (right), and town area, about 700 kilometers west of Karachi, Pakistan. Gwadar Port is a deep-sea port developed jointly by the Pakistan and China at a cost of $248 million. (AP)

Pakistan’s top civil and military leaders traveled to the country’s southwest on Sunday to open a new international trade route by seeing off a Chinese ship that's exporting goods to the Middle East and Africa from the newly built Gwadar port.

The first convoy of Chinese trucks carrying goods for sale abroad has arrived in Pakistan amid tight security using a road linking Gwadar to China's northwestern Xinjiang region, the government said in a statement.

Prime Minister Nawaz Sharif said that Pakistan will provide best possible security to foreign investors to enable them to use the Chinese-funded port for international trade.

The Pakistani army has created a special force to guard the new trade routes and the port, which is located in insurgency-wracked Baluchistan province where an overnight blast at a shrine killed nearly 50 people.

The attack was claimed by the ISIS and Pakistani officials said it was aimed at harming the Chinese-funded projects in the southwest and elsewhere in the country. 

Economic corridor 

China is building a network of roads and power plants under a project known as China-Pakistan Economic Corridor that is expected to absorb $46 billion in Chinese investment in the coming decades.

Gwadar port is located on the Arabian Sea and it occupies a strategic location between South Asia, Central Asia and the Middle East. The port is also located at the mouth of the Gulf, just outside the Straits of Hormuz.

China is seeking convenient and reliable access to the Arabian Sea and the Indian Ocean. Chinese ships now use the Strait of Malacca, a narrow passage between the Malay Peninsula and Indonesia. The proposed new route would give China access to the Gulf region and the Middle East.

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Last Update: Sunday, 13 November 2016 KSA 20:08 - GMT 17:08
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China opens new trade route to Gulf, Middle East via Pakistani port
First convoy of Chinese trucks carrying goods for sale abroad has arrives at Gwadar
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