Pakistan signs agreement with Denmark to restructure maritime sector

Celina Ali

ISLAMABAD: Pakistan’s Minister for Maritime Affairs Qaiser Ahmed Shaikh on Wednesday signed an agreement with Denmark’s Industry, Business and Financial Affairs Minister Morten Bodskov which would allow the South Asian country to restructure its maritime sector and provide technical trainings to its ports.

With access to the Arabian Sea, Pakistan’s sea ports in the coastal city of Karachi are vital for international trade, help facilitate international trade and provide jobs for thousands of people in the country.

Pakistan has been keen on restructuring and upgrading its ports. In August, state media reported that Danish shipping firm Maersk will invest $2 billion in Pakistan’s port and transport infrastructure over the next two years.

“After this MOU, Maersk (Danish Shipping Company) is ready to invest almost two billion dollars in Pakistan’s maritime sector,” said an official statement.

Shaikh said the agreement would help Pakistan integrate logistics hubs in all ports, establish a deep-water container terminal in Karachi, create an International Maritime Organization (IMO) and European Union (EU)-compliant ship recycling facilities.

He also said the memorandum of understanding between the two countries will help Pakistan Marine Academy upgrade its curriculum and equipment and provide continuous technical and training assistance to Pakistani ports.

Shaikh noted that Maersk has the highest market share of 20 percent for containerized imports and exports in Pakistan. Apart from that, the global market capital of this company is around 175 billion Danish Krone, he said.

“The Danish Ambassador to Pakistan Jakob Linulf also thanked the Government of Pakistan and Minister for Maritime Affairs on this progress,” the statement said. “Both sides were willing to strengthen ties for the growth of maritime sector.”