Islamabad invites South Korea to join UAE, Saudi Arabia in investing in Pakistani ports

ISLAMABAD: Pakistan’s Minister for Maritime Affairs Qaiser Ahmed Shaikh invited South Korea to join Saudi Arabia, the United Arab Emirates, Denmark and Malaysia in investing in the country’s key port infrastructure, state-run media reported recently. 
Pakistan aims to bolster its maritime sector and enhance regional trade connectivity by modernizing its key port facilities, including the deep water Gwadar Port, and improving its infrastructure to increase cargo handling capacity and streamline trade routes.
Shaikh met South Korea’s Ambassador to Pakistan Park Ki Jun on Sunday to discuss Pakistan’s growing efforts to attract foreign investment in strategic sectors, with a focus on modernizing the country’s ports and boosting economic ties with leading Asian economies.
“Minister for Maritime Affairs Qaiser Ahmed Shaikh has invited the Korean government and investors to explore opportunities in Pakistan’s port and shipping industry,” the state broadcaster said. 
The minister highlighted that Saudi Arabia, UAE, Denmark and Malaysia had already made “significant investments” in Pakistani ports and hoped Korean investors would do the same. 
Shaikh said bilateral cooperation with South Korea could be strengthened in renewable energy, solar, wind, hydropower, urban planning and transportation sectors.
Lauding the educational exchange program between both countries, Shaikh reiterated Pakistan’s commitment to enhance its partnership with South Korea in key economic sectors, saying that Islamabad is aiming for a mutually beneficial relationship.
With access to the Arabian Sea, Pakistan’s seaports in the coastal city of Karachi are vital for international trade and provide jobs for thousands of people in the country. 
Pakistan has been working on restructuring and upgrading its ports. In August, Danish shipping firm Maersk expressed intent to invest $2 billion in Pakistan’s port and transport infrastructure over the next two years. 
This initiative is seen as a pivotal step toward boosting the country’s economic growth, strengthening trade links across Asia, and enhancing its geopolitical influence in the region.
Pakistani ministries of maritime, aviation and railways last week signed four agreements with the Abu Dhabi (AD) Ports Group to enhance collaboration in customs, rail, airport infrastructure and maritime shipping and logistics sectors. 
AD Ports Group, a leading maritime and logistics provider in the Middle East, signed an agreement in July this year to invest $250 million in Pakistan in 10 years as it plans to build an advanced port facility in the country’s seaside metropolis of Karachi.