Islamabad: Pakistan and Turkmenistan are set to sign a landmark Memorandum of Understanding (MoU), granting Turkmenistan access to Gwadar Port under the China-Pakistan Economic Corridor (CPEC). This update was featured in a news report on September 25.
As per given details, this agreement, facilitated by the Special Investment Facilitation Council (SIFC), will make Turkmenistan the first Central Asian country to gain strategic access to Gwadar via CPEC.
The primary goal of this MoU is to enhance regional and international trade cooperation by enabling the movement of goods and containers through both nations’ ports. This development aligns with ongoing projects between Pakistan and Turkmenistan, such as the TAPI pipeline, railway connectivity, and fiber optic links, aimed at strengthening ties between South and Central Asia.
In preparation for the signing, the Pakistani government has established a committee to review the draft agreement between Gwadar Port and Turkmenistan’s Turkmenbashi Port under the CPEC framework. Additionally, a cabinet committee has been formed to approve routing 50% of public sector imports through Gwadar.
The expansion of Gwadar Port is expected to generate new jobs, stimulate economic growth, and attract foreign investment, positioning Gwadar as a vital global trade hub. High-level government initiatives, backed by SIFC, are underway to promote Gwadar’s strategic importance on the global stage.
CPEC projects, including this MoU, are poised to boost economic stability and foster stronger trade relations with neighboring countries, contributing to the region’s overall prosperity and connectivity.
