Under the China-Pakistan Economic Corridor, Pakistan and Turkmenistan are scheduled to ink a Memorandum of Understanding aimed at improving trade ties. Turkmenistan will be the first nation in Central Asia to get access to Gwadar Port, according to the specialized investment facilitation council’s backing.
Using the ports in both nations to expedite the flow of commodities is the goal of the partnership. In order to connect South and Central Asia, they are already working together on projects like the Tapi Pipeline, railroad tracks, and fiber connectivity.
To assess the draft agreement for the Gwadar and Turkmenbashi Ports, the government has established a committee. 50% of imports used by the public sector through Gwadar are also subject to approval by a Cabinet Committee.
Increased regional connectivity, job creation, and foreign investment are anticipated outcomes of Gwadar Port development.
A lot of work is being done to position Gwadar as a hub for international trade, promoting stability in the economy and improving commerce within the region.
