Maritime stability and regional peace are essential for the prosperity of the blue economy, Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Moazzam Ghurki observed, as it provides livelihood to coastal residents.
Speaking at a think tank session at the PCJCCI Secretariat, Ghurki stressed “our future depends on world peace rather than confrontation. Pakistan is taking effective steps for the blue economy to ensure improved livelihoods while preserving the ocean ecosystem.”
He expressed satisfaction that Pakistan is moving towards a sustainable blue economy by giving importance to ocean-related food security. For the blue economy to thrive, he said, the world had to put an end to the irresponsible exploitation of the oceans.
“Pakistan is turning into a geo-economic hub with the Belt and Road Initiative and the China-Pakistan Economic Corridor (CPEC) project,” he said.
Sharing his views, PCJCCI Senior Vice President Fang Yulong pointed out that Pakistan provided the shortest route for Central Asian states and China to import and export goods through Gwadar.
Reading Pakistan-China Partnership: Bridging Nations, Building Communities
“Pakistan’s Indus Delta region offers vast oil and gas reserves. A joint mission to explore hydrocarbon resources was carried out by the Hydrographic Department of the Pakistan Navy and the Geological Survey of China in 2019 and the survey revealed a “highly promising” picture of Pakistan’s Exclusive Economic Zones with the presence of huge reservoirs of oil and natural gas. of gas,” he said.
Fang added that a third survey is expected this year, which is likely to pave the way for drilling and subsequent hydrocarbon extraction.
PCJCCI vice president Hamza Khalid said the high seas have gained renewed focus because of their vast reservoirs of food, minerals and hydrocarbons.
Published in The Express Tribune, November 8u2023.
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