Chinese companies sign agreement for aquaculture project in Gwadar adding to its strategic importance and Pakistan’s cooperation with China under CPEC.
A Chinese state-owned construction and port management firm has entered into an agreement with an aquaculture company to develop deep-sea aquaculture facilities in Pakistan’s Baluchistan province.
China Overseas Port Holding Company Limited, which oversees the construction and operation of Gwadar port in southern Pakistan, has signed this agreement with Sanya Yazhou Bay Agriculture and Aquaculture Development Co.
The agreement outlines a commitment from both companies for extensive future cooperation in deep-sea aquaculture. According to a statement from Sanya’s municipal government in Hainan, the deal also includes the joint development of an economic zone linking Gwadar Port with Yazhou Central Fishing Port in Hainan Province.
Connection between Gwadar port and Hainan Island
Consequently, this agreement is part of a larger effort to strengthen commercial links between Gwadar port and Hainan island. Hainan is being promoted by the Chinese central government as a free trade port, offering tax-free trade and duty-free shopping.
Yu Bo, chairman of China Overseas Port Holding Company Limited, expressed the company’s desire to collaborate with Hainan Free Trade Port in various sectors including trade, logistics, industrial services, and talent exchange.
Sanya Yazhou Bay Agriculture and Aquaculture Development Co. specializes in importing and producing aquaculture seedlings in southern China, as well as operating its own seafood production facilities.
Gwadar port is a key project within the China-Pakistan Economic Corridor, designed to link China with Pakistan. Eventually, this connection via road is intended to provide China with a strategic trade route through the Arabian Sea and the Indian Ocean.
Despite its strategic importance, Gwadar port has seen limited use, with commercial activities in Baluchistan being hindered by political unrest. The region has recently experienced protests and violence, including an incident earlier this year where eight men attempting to enter the Gwadar Port Authority complex were killed by security forces.
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