Pakistan and China have signed a new agreement to boost cooperation in the shipping sector. The memorandum of understanding (MoU) was made between Pakistan National Shipping Corporation (PNSC) and China’s Shandong Xinxu Group.
Under this MoU, the Chinese company will invest capital and supply vessels to support Pakistan’s shipping sector. This partnership focuses on ship procurement, leasing, and management services to improve efficiency and capacity.
The agreement also includes collaboration in ship operations, marketing, and crew management. These joint efforts aim to modernize Pakistan’s shipping sector and strengthen its overall infrastructure.
Federal Minister for Maritime Affairs Junaid Anwaar called the deal a milestone for mutual growth. He said it would enhance regional trade, connectivity, and investment opportunities.
The cooperation will help Pakistan expand its maritime capabilities. It also creates a better environment for foreign investment in the shipping sector. The move comes as part of Pakistan’s plan to develop its ports and shipping services.
China’s involvement is expected to bring technical expertise and financial resources. This will help Pakistan upgrade its fleet and improve service standards in the shipping sector.
Both countries see this partnership as a way to increase trade and economic ties. With growing demand for efficient maritime services, the shipping sector is critical for Pakistan’s economic progress.
This MoU marks a positive step toward stronger Pakistan-China relations. It reflects the increasing importance of the shipping sector in regional trade and connectivity.
The agreement promises sustainable development for Pakistan’s shipping sector. It also opens doors for more collaboration in maritime affairs in the future.
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