Moazzam Ghurki, President of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), emphasized that the well-being of coastal communities relies on maritime stability and regional peace, as they are crucial for the success of the blue economy.
Speaking at a recent think tank session hosted at the PCJCCI Secretariat, Ghurki underlined the significance of global peace over confrontation. He praised Pakistan’s efforts in developing a sustainable blue economy that prioritizes ocean ecosystem preservation and ensures improved livelihoods.
Ghurki expressed contentment with Pakistan’s progress toward a sustainable blue economy, particularly its focus on food security related to oceans. He stressed that to foster the blue economy, the world must put an end to irresponsible ocean exploitation.
He also highlighted Pakistan’s growing importance as a geo-economic hub, thanks to initiatives like the Belt and Road Initiative and the China-Pakistan Economic Corridor (CPEC) project.
Fang Yulong, Senior Vice President of PCJCCI, pointed out that Pakistan offers the most efficient route for Central Asian states and China to import and export goods via the Gwadar port. He also mentioned the vast oil and gas reserves in Pakistan’s Indus Delta region, which were explored in a joint expedition by Pakistan Navy’s Hydrographical Department and China Geological Survey in 2019. The survey revealed promising prospects for Pakistan’s Exclusive Economic Zones, which contain significant oil and gas reservoirs. A third survey is anticipated this year, potentially paving the way for hydrocarbon extraction.