Posted on April 17, 2018 at 03:00 PM
In the digitalised and globalized world of today, seaborne trade activities are more pivotal to modern politics and economic welfare of countries. Gwadar port is directly connected with Central Asian states, Europe and Africa. The Gwadar port is under construction and is owned by (GPA) Pakistan Government's Gwadar Port Authority and (COPHC) China Overseas Port Holding Company is operating the port and it will run it for 40 Years. For Pakistan and China, Gwadar Port is strategically important is directly connected with Arabia or the Persian Gulf and close to the Strait of Hormuz, through which 40% of the world oil passes. Gwadar port is the gateway to the oil-rich Middle East central and South Asia. Gwadar port is set to enhance the regional connectivity and become the hub of international business activities in the future. Gwadar port has the great potential and to compete and replace Dubai port charm and influence.
The main reason to compare Dubai and Gwadar ports is that both seaports are defined as trade centres and located at the cross junction of international shipping and oil trade routes. Both seaports offer direct access to the Indian ocean where 70% of world petroleum trade. So Gwadar port is the nearest stop for sea traffic rather than Dubai port or Iranian Chabahar port.
According to the expert's views, Gwadar port has the more benefit for all the Gulf Countries especially Dubai. It will increase more trade traffic covering Pakistan and Dubai ports and increase the capacity of economic welfare rather than destroying the economy. China is more interested and aggressive in its diplomatic efforts to reach out and increase the import-export to the Arab Countries. Another major advantage for China that CPEC route will make it easier and convenient to reach Gulf Countries by minimizing the transit distance from 12,000 Km to 3,000 Km. In such situation, Pakistan will have the win-win scenario on its hands as Pakistan and Gwadar port acts as the essential linkage between regional trade activities. In order to reach the Dubai port level, the Pakistan and China government have focused to develop the mega city in which mega oil city and Special Economic Zones(SEZ's) are under construction which offers free taxation and totally commercial activities under the supervision of GPA and COPHC.Special Economic Zones are the golden opportunity for Pakistan to strengthen its trade prospects with three major continents: Aisa, Europe and Africa.
During the last two decades, China is interested in strengthening its relations with Asian Countries especially the Middle East. So, Pakistan is the central point of the Chinese dialogue strategy to link the regional countries in a strong sphere of trade and Commerce. Apart from this, China is the main business partner of many Gulf countries. Currently, Sino-UAE bilateral trade stands at around $55billion. It is analyzed that CPEC will increase the trade twofold.
One of the main aspects of why Gwadar is held in such high esteem by experts is due to its real estate development in Gwadar. Gwadar city is like a blank sphere which is being filled by national and international investors in Pakistan by initiating residential and commercial projects.
Either Dubai Port enjoy more benefits at present rather than Gwadar port, but CPEC and Gwadar port security is handed over to Pakistan Army and Navy. Along the CPEC route, the Special task force will monitor the security as well CCTV cameras will be installed along the CPEC route for surveillance.
Either Gwadar port will replace Dubai port as the hotbed of international trade activities. But the heavy investment of China in Pakistan has increased the importance of Gwadar port and it cannot be downplayed since the port can reach the status of a central gate to the strait of Hormuz. Gwadar port provides better trade routes for landlocked Caspian region countries. Gwadar port also allows Pakistan to exercise more control of its seaways and trade routes. All in one, Gwadar port has the potential to become the city of progress and future as Pakistan and the Chinese government commits itself to this project of limitless opportunities and gigantic proportion. It will be a global business and trade hub.