ISLAMABAD:
Federal Minister for Maritime Affairs Junaid Anwar Chaudhry has said that new maritime trade corridors will be launched to enhance trade with the East African Community (EAC).
The EAC comprising eight countries – Burundi, Democratic Republic of Congo, Kenya, Rwanda, Somalia, South Sudan, Tanzania and Uganda – is home to more than 500 million people and has a collective gross domestic product (GDP) of $345 billion.
In a statement on Saturday, Junaid Anwar Chaudhry highlighted that the establishment of new maritime corridors would serve as a catalyst for enhancing trade between Pakistan and the EAC member states, which were undergoing rapid economic growth and presented a substantial trade opportunity, particularly in agriculture, textiles, manufacturing and technology.
“Our goal is to provide Pakistan’s industrialists, exporters and investors with a direct and efficient route to tap into the lucrative East African market,” he said.
To ensure the successful implementation of this plan, an inter-ministerial consortium will be formed comprising relevant ministries and other stakeholders.
“These institutions will operate under a comprehensive coordinated framework to provide integrated support in areas such as trade, finance, diplomacy and technology,” the minister elaborated. “This collaborative effort will make it certain that Pakistani businesses have the necessary tools and support to succeed in the East African market.”
The minister said the first phase of the plan involved the establishment of a direct shipping line connecting the Karachi Port to Djibouti, a key gateway to East Africa. Djibouti serves as a critical logistics hub for the region, offering easy access to ports in neighbouring countries, including Somalia and Ethiopia.
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