An agreement regarding Gwadar port signed in Islamabad

Radio Pakistan

An agreement regarding Transfer of Concession Rights of Gwadar Port Operations to a Chinese company was signed in Islamabad. Speaking on the occasion‚ President Asif Ali Zardari expressed the confidence that the award of the contract will open new opportunities particularly for the people of Balochistan. He said it will give new impetus to Pakistan-China relations and take a step further our political cooperation into the realm of economic cooperation. The President said handing over of the operation of Gwadar Port to China is manifestation of our growing ties and also shows the trust Pakistan has in the Chinese ability to deliver on our infrastructure projects. He said development of a trade corridor linking Xinjiang to the Middle East through Gwadar Port will enhance trade and commerce not only between the two countries but also in the region. He said the port also has strategic importance for China as around sixty percent of China's crude oil comes from the Gulf countries that are close to Gwadar. Asif Ali Zardari recalled that both Shaheed Zulfikar Ali Bhutto and Shaheed Mohtarma Benazir Bhutto had a great vision for developing Gwadar Port and taking Pak-China relations to new heights. He said Gwadar is now a potential hub of trade and commerce in the region. It also holds the key to bring together the countries of Central Asia. Referring to the tragic bomb blast in Quetta‚ the President said we cannot be terrorized. In his speech on the occasion‚ Ambassador of China Liu Jian said the transfer of Gwadar Port to China will bring tangible benefits to the two countries and contribute to peace‚ stability and development of the region. He said Gwadar Port is part of greater framework of economic cooperation between Pakistan and China.