Islamabad, November 11, 2024 – The Ministry of Maritime Affairs has assured Maersk officials of its full support in facilitating the company’s operations and addressing any challenges that may arise, as Pakistan prepares for a landmark $2 billion investment from the Danish shipping giant.
The investment aims to expand Maersk’s presence in Pakistan’s maritime sector, with discussions advancing toward a final agreement.
A.P. Møller – Mærsk A/S, commonly known as Maersk, is set to make a significant move in Pakistan’s shipping and logistics industry, with an initial investment of $2 billion, as confirmed by Federal Minister for Maritime Affairs, Qaiser Ahmed Sheikh, earlier this year. In August, Minister Sheikh highlighted the importance of the deal, and in October, Denmark’s Ambassador to Pakistan, Jakob Linulf, along with Minister Sheikh, signed a Memorandum of Understanding (MoU) regarding the investment.
Speaking at a key meeting on Monday, Minister Sheikh reassured Maersk officials of the Ministry’s unwavering support in facilitating the company’s entry into Pakistan’s market. “We are fully prepared to work with Maersk Line to ensure a smooth and efficient process for their investment,” Sheikh stated. He also confirmed that the agreement with Maersk is expected to be finalized in the coming days, following the visit of Denmark’s Foreign Minister on November 12, 2024.
The Minister further emphasized that the terms and conditions of the partnership were being finalized, and Monday’s meeting had been crucial in establishing a mutual understanding between both parties ahead of a formal agreement. “This collaboration is expected to not only bring substantial investment into our maritime infrastructure but also set the stage for more foreign investments in Pakistan,” Sheikh added.
According to the Ministry of Maritime Affairs, Maersk officials expressed complete confidence in the Government of Pakistan and the Ministry of Maritime Affairs. They expressed satisfaction with the ongoing discussions and voiced optimism about the upcoming investment breakthrough.
The announcement of Maersk’s $2 billion investment comes as Pakistan and Denmark also held their fourth round of bilateral-political consultations in Islamabad. The two sides conducted a comprehensive review of their bilateral cooperation, including trade, investment, climate change, and renewable energy. They also discussed ways to further enhance cooperation, especially in green technologies, under the Green Framework Engagement Agreement signed in September 2022.
As Pakistan looks forward to the finalization of Maersk’s investment, the collaboration is expected to significantly boost the country’s maritime sector, generate new opportunities for growth, and contribute to strengthening Pakistan’s position in global shipping.
