Malaysian delegation expressed its interest to assist develop projects like ferry service operation, creation of dedicated terminals at Pakistani ports and establishment of industry in the Gwadar port free zone.
Both countries agreed that a joint working group on maritime cooperation of Pakistan and Malaysia may be established.
These decisions were reached at a meeting held between a excessive level delegation headed by former prime Minister of Malaysia, Abdullah Ahmad Badawi, and Pakistan’s Minister for Port and shipping Mir Hasil Khan Bizenjo. The visiting delegation included leading industrialists and businessmen. The meeting discussed potential avenues of investment and explored possibilities of joint ventures in Pakistan’s shipping area.
The visiting delegation was briefed by Bizenjo about ongoing tasks being completed by the ministry and the future plans for improvement of the maritime zone.
Minister for Ports and shipping emphasized on the importance of the China Pakistan economic corridor (CPEC) and Gwadar Port, stating that the port held a central place in CPEC and could be a transshipment hub in the future. He said the government had announced incentives, including income tax and customs duty exemptions for the Gwadar free zone area. Participants of the meeting have been briefed that the ministry had taken an initiative to allow the public and private area to begin the ferry service to facilitate tourists and pilgrims to Iran and the Middle East. This would stimulate economic growth through the tourism industry.
It also discussed that modern dedicated terminals for liquefied natural gas (LNG), coal and clinker and containers have been completed at Karachi Port and Port Qasim.
The delegation was also apprised that Pakistan had announced complete tax exemptions for import
and registration of ships.