Turkmenistan has secured access to Gwadar Port through the China-Pakistan Economic Corridor (CPEC) with the collaboration of the Special Investment Facilitation Council (SIFC).
Under the CPEC framework, a memorandum of understanding (MoU) is expected to be signed between Pakistan and Turkmenistan to enhance economic and trade ties. Following this agreement, Turkmenistan will become the first Central Asian country to gain access to Gwadar Port under the CPEC agreement.
The objective of this agreement is to establish regional and international cooperation for the movement of goods and containers by utilizing the potential capacities of both countries’ ports. Pakistan and Turkmenistan are already collaborating on various joint projects, including the TAPI pipeline, railway tracks, and fiber connectivity, aimed at linking South Asia with Central Asia.
To review the draft agreement between Gwadar and Turkmenbashi ports under CPEC, the government has formed a committee.
Notably, under CPEC, a cabinet committee has also been established to approve 50% of public sector imports through Gwadar Port. The development of Gwadar Port will enhance regional connectivity, create job opportunities, and attract foreign investment by stimulating economic growth.
High-level government efforts are underway, with the support of the SIFC, to promote Gwadar as a global trade center. The implementation of CPEC projects is expected to foster economic stability and prosperity, as well as enhance economic and trade links with other countries in the region.
