Gwadar, Balochistan – the city even some Pakistanis had not heard of before, is finally taking center stage after the booming agreement of the Pak-China corridor.
It is currently under development as a free trade port. After a 248 million USD agreement in 2007 with China, the Gwadar port was handed to China in 2013 – with the initial investment of about 750 million USD.
Gwadar has the potential to acquire the status of a center piece as a gate to Strait of Hurmoz – it can compete with the UAE ports by improving the exiting links to the Caspian, thus, providing a better trade route to the land locked Caspian Region.
In short, Gwadar could be the next Dubai, very, very soon! Here’s how we think Gwadar would like in 20 years if everything goes according to plan..
Pakistan’s trade within South Asia will multiply by 22 ship-hangers – creating increase in import and export through Gwadar
Once the new port is up and running, ships form all over the world will find resort in Gwadar whilst trading anywhere through the Arabian Sea – strategic depth
Gwadar Port will accelerate economic development and investments, both foreign and local. This, in time, will spur industrial development and port traffic and overall increase in Pakistan’s economy
Gwadar port extends Pakistan’s importance from Persian Gulf – Indian Ocean – South-East Asia – Far East. Close to Strait of Hormuz: through which more than 17 million barrels of oil passes in a day!
We think it’s safe to say – if the Pak-China Corridor (which emphasizes on Gwadar port’s development) goes through, Pakistan can turn into the United Arab Emirates or Singapore within 20 years!
So here’s to hoping the deal goes through without trouble and Pakistan does achieve its inevitably destiny – that too, just because of its geopolitical/demographic location.