Gwadar became part of Pakistan on 8th September, 1958. After survey of United States Geological Survey on coastline of Gwadar Port, Pakistan identified this place can be a port. So this place was purchased from Oman for 30 Lac US dollars ($3 millions).
This port was identified as deep sea port and much beneficial in terms of trade as Ship can connect with port directly.
- Karachi to Gwadar : 460 Km towards East
- Iran to Gwadar: 75 Km towards West
- Gwadar to Iran: 380 Km Northeast
Importance of Location
Gwadar Port is located in Balochistan and it is warm-water and deep sea port on Arabian Sea. This port is extremely important due to its location as Trading and Oil Shipping lanes are very close to it, if named specifically Strait of Hormuz. This place is like a choke between Iran and UAE on Gulf Sea. World’s 35 % of Oil trade uses this way, thus making it much significant for world’s strategic trade now and in future.
Contract with China
Pakistan and China are neighboring countries and great friends. Both of the countries have relation of mutual trust. China always supported Pakistan and Pakistan always stood by China. This port was initially given on contract to Singapore Company (PSA Port of Singapore for 40 years but later Pakistan felt that this port can help China better. As if China takes over the Gwadar Port it can serve as hub of oil pipeline for China. China and Pakistan energy needs can be fulfilled easily.
The contract is being signed between Pakistan and China. This Gwadar Port agreement will make two countries more stable and closer friends. China is using other ports as well for trade but this port has its supreme importance over other ports. The direct and quick influence of China in world trade will be more effective. Both countries will be prosperous and this city will be turned in to one of the world’s best cities.
Development of Gwadar Port
Gwadar Port was constructed by Chinese company at a cost of $248 million. Pakistan Government developed the Gwadar port and its development was done under Gwadar Port Authority, Government of Pakistan. Port was inaugurated by Pervaiz Musharraf, President of Pakistan on 20th March 2007. It was phase-I completion and this port was suggested as duty-free and tax free trade zone.
Phase-II is still in progress and more than $1 billion will be spent on its development to meet the international standards. Much progress has been done already and land of Gwadar is being acquired by different businesses. Gwadar will be gold mine of Pakistan in near future. Its importance in terms of its location, economic strategies and influence of Arab on culture will promote a progressive picture of Pakistan to the world.