Global logistics giant shows interest in developing Pakistan’s first green transshipment terminal

Shipping containers are seen stacked on a ship at a sea port in Karachi on April 6, 2023. (AFP/File)
Short Url
Updated 26 April 2024
Follow

Global logistics giant shows interest in developing Pakistan’s first green transshipment terminal

  • APM Terminals sent a delegation to meet Pakistani officials and discuss the modernization of its ports
  • The integrated container logistics company also develops and operates ports in countries across the world

ISLAMABAD: A delegation from a leading logistics company, A.P. Moller-Maersk (APM) Terminals, expressed interest in developing the first transshipment terminal in Pakistan while holding a meeting with Prime Minister Shehbaz Sharif on Friday.

Maersk is an integrated container logistics company operating in 130 countries. APM Terminals has been developing and operating advanced ports and container terminals for over half a century and has 60 strategically located ports and container terminals around the globe and several more in development.

The company delegation arrived in Pakistan earlier this week to discuss the possibility of developing and modernizing the South Asian nation’s ports and held separate meetings with Finance Minister Muhammad Aurangzeb and Minister for Maritime Affairs Qaiser Ahmed Sheikh.

“The prime minister expressed interest in cooperation between Pakistan and Denmark in the fields of agriculture and environment-friendly energy projects,” Radio Pakistan reported after Sharif’s meeting with the delegation led by the company CEO Keith Svendsen.

“Svendsen expressed satisfaction on the investment and business friendly policies of Pakistan,” it added. “He showed interest in the first green transshipment terminal of Pakistan in Karachi.”

The construction of the project would allow large cargo ships to utilize the Karachi port, helping the country earn greater revenue.

Previously, the country’s finance minister told the delegation Pakistan was keen to explore future projects and investments with APM, especially in the maritime sector.

“The government is fully committed to facilitate an environment conducive to business and investments,” he told them.

Svendsen and his delegation also met the maritime affairs minister on Thursday and discussed investment prospects in Pakistan’s ports and terminals sector.

“The delegation head highlighted Moller-Maersk’s prominent global position and its robust relationship with Pakistan, which reflects a market share of approximately 20 percent in containerized import-export activities,” Radio Pakistan said.

“Recognizing the immense growth potential, Keith Svendsen proposed investments to enhance integrated supply chain solutions, including the upgrading of ports and logistics infrastructure. The delegation pledged support for the advancement of maritime affairs in Pakistan and for nurturing a skilled workforce in this sector.”

On Monday, Pakistani and United Arab Emirates (UAE) officials performed the groundbreaking of a $175 million Bulk and General Cargo terminal as part of a new 25-year concession agreement signed between AD Ports Group and Karachi Port Trust (KPT) in Feb. 2024 to outsource operations of the terminal.

Under the terms of the agreement, Karachi Gateway Terminal Multipurpose Limited (KGTML), a joint venture between AD Ports Group, as a majority shareholder, and Kaheel Terminals, a UAE-based company, will develop, operate and manage the Bulk and General Cargo Terminal, berths 11 to 17 at Karachi Port’s East Wharf.


Pakistan says Qatar to elevate economic partnership to ‘higher strategic level’

Updated 5 sec ago
Follow

Pakistan says Qatar to elevate economic partnership to ‘higher strategic level’

  • Qatari emir accepts invitation to visit Pakistan later this year, Sharif’s office says
  • Doha talks also addressed rising tensions between Pakistan and Afghanistan

ISLAMABAD: Pakistan said on Tuesday Qatar had agreed to elevate bilateral economic cooperation to a “higher strategic level” during talks between Prime Minister Shehbaz Sharif and Qatari Emir Sheikh Tamim bin Hamad Al Thani in Doha, according to a statement from the Prime Minister’s Office.

The meeting with Qatar’s head of state marked the highest-level engagement of Sharif’s visit and comes as Islamabad seeks to attract Gulf investment to support economic stabilization under a $7 billion International Monetary Fund (IMF) program while coordinating with regional partners on rising security tensions.

Qatar is a key economic partner for Pakistan, hosting nearly 300,000 Pakistani workers and previously announcing plans to invest $3 billion in sectors including transport, aviation, energy, health, media and technology. The two countries also maintain defense cooperation and structured political and business dialogues.

“His Highness Sheikh Tamim bin Hamad Al Thani reiterated Qatar’s commitment to a deepening economic partnership to a higher strategic level,” Sharif’s office said in the statement.

According to the statement, the two leaders reviewed the entire spectrum of bilateral relations and reaffirmed their commitment to strengthening longstanding ties.

The Qatari emir also accepted Sharif’s invitation to visit Pakistan later this year, the Prime Minister’s Office said.

Earlier during the visit, Sharif held talks with Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, where discussions focused on expanding cooperation in trade and investment, energy, defense, manpower and labor, and culture.

“They reaffirmed the strong brotherly relations between Pakistan and Qatar and expressed satisfaction at the growing momentum in political, economic and institutional ties,” Sharif’s office said.

“Discussions focused on enhancing cooperation in the fields of trade and investment, energy, defense, manpower and labor and culture, with both sides stressing the importance of their task force to accelerate cooperation in all these areas.”

Sharif also met Qatar’s State Minister for Trade Dr. Ahmed bin Mohammed Al-Sayed and a delegation of the Qatar Businessmen Association (QBA), where he highlighted Pakistan’s investment-friendly reforms and invited Qatari investors to explore opportunities in infrastructure, logistics, energy, agriculture, technology and export-oriented manufacturing, according to the prime minister’s office.

The business outreach reflects Islamabad’s broader push to convert political goodwill with Gulf partners into tangible investment inflows as it works to sustain macroeconomic stability and growth.

TENSIONS WITH AFGHANISTAN 

The Doha talks also addressed rising tensions between Pakistan and Afghanistan following cross-border military exchanges in recent days.

Pakistan last week carried out airstrikes inside Afghanistan against what it described as Tehreek-e-Taliban Pakistan (TTP) targets, after blaming recent militant attacks in Islamabad, Bajaur and Bannu on fighters operating from Afghan territory, which Kabul denies. Afghan Taliban authorities said the strikes killed civilians and described them as a violation of Afghanistan’s sovereignty.

The issue also came up during a separate meeting between Sharif and Qatar’s Deputy Prime Minister Sheikh Saoud Al-Thani.

“Regional developments were also discussed, in particular the situation in Iran and Afghanistan,” Sharif’s office said in a statement. “Both sides emphasized the importance of dialogue, de-escalation and collective efforts to promote peace and stability in the region.”

Similar cross-border strikes last year triggered weeklong clashes before Qatar and Turkiye helped mediate a tenuous ceasefire between Islamabad and Kabul.