Karachi, February 3, 2024 – In a significant move to bolster maritime and logistical ties, Karachi Port Trust (KPT) and Abu Dhabi Ports Group, UAE, have officially signed a commercial agreement.
The signing ceremony, attended by Caretaker Prime Minister Anwaar-ul-Haq Kakar, marked the collaboration between the two entities in outsourcing the operations of the Bulk and General Cargo Terminal at seven (7) Berths of East Wharf Karachi Port.
The agreement holds strategic importance as it aims to fortify bilateral relations in the marine and logistics sectors between Pakistan and the United Arab Emirates (UAE). Shahid Ashraf Tarar, Federal Minister for Communication, Railways, and Maritime Affairs, joined by other high-ranking officials from the Pakistani side, and Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and H.E. Hamad Obaid Ibrahim Salem Al-Zaabi, Ambassador of the UAE to Pakistan, accompanied by other dignitaries from the UAE, were present at the signing ceremony.
Caretaker Prime Minister Anwaar-ul-Haq Kakar expressed his satisfaction with the burgeoning exchanges, interactions, and cooperation between businesses in Pakistan and the UAE. The collaborative effort signifies a step forward in enhancing economic and trade ties between the two nations.
The commercial agreement specifically focuses on the outsourcing of operations at the Bulk and General Cargo Terminal, which encompasses seven berths at the East Wharf of Karachi Port. This move is expected to optimize the efficiency of port operations, bringing in expertise and technological advancements from the UAE to enhance the capabilities of Karachi Port.
Shahid Ashraf Tarar, Federal Minister for Communication, Railways, and Maritime Affairs, emphasized the mutual benefits that would arise from this agreement. He highlighted the potential for improved trade flows, streamlined logistics, and enhanced operational efficiency at Karachi Port, contributing to the economic development of both nations.
Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, expressed optimism about the agreement’s positive impact on the economic ties between Pakistan and the UAE. He stressed the importance of such collaborations in fostering economic growth and regional development.
H.E. Hamad Obaid Ibrahim Salem Al-Zaabi, Ambassador of the UAE to Pakistan, reiterated the commitment of both nations to fostering stronger ties in various sectors, emphasizing the significance of maritime cooperation in promoting trade and economic development.
The commercial agreement is a testament to the commitment of both Karachi Port Trust and Abu Dhabi Ports Group to harnessing their respective strengths and capabilities for mutual benefit. As the outsourcing of operations takes effect, it is anticipated that Karachi Port will witness improved efficiency, technological advancements, and increased trade volumes, contributing to the economic prosperity of both Pakistan and the UAE.
