Islamabad, (TDI): Pakistan and Denmark signed an MoU for huge investment and restructuring in Pakistan’s maritime sector, Ministry for Maritime Affairs said on Wednesday.
Maersk (Danish Shipping Company) is ready to invest almost 2 billion dollars in Pakistan’s maritime sector after signing an agreement, the ministry said.
The MoU was signed by Minister for Maritime Affairs Qaiser Ahmed Shaikh and Denmark’s Minister for Industry, Business and Financial Affairs Morten Bodskov.
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Denmark’s Ambassador to Pakistan Jacob Linulf presented the signed document of Danish Minister in the ceremony.
Finance Minister Mohammad Aurangzeb, Minister for Commerce Jam Kamal, Minister for Industries Rana Tanveer, Director General SIFC Maj Gen Asad-ur-Rehman, Additional Secretary Maritime Affairs Umar Zafar Sheikh and Secretary SIFC Jameel Qureshi were also present in the MOU signing ceremony.
On this occasion, Federal Minister Qaiser Ahmed Sheikh thanked Denmark on this remarkable breakthrough in maritime sector.
He said that as a result of this memorandum, now the ministry can integrate logistics hubs in all ports, establish deep water container terminal in Karachi, avail facilities of International Maritime Organization (IMO) and European Union (EU) in this connection.
Now, Pakistan Marine Academy could be assisted to upgrade curriculum and equipment, continuous technical and training assistance to Pakistani ports could be provided, he said.
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The minister also highlighted the importance of Maersk Company in Pakistan’s shipping industry.
He said that Maersk has the highest market share of 20% for containerized imports and exports in Pakistan.
Apart from that, the global market capital of this company is around 175 billion Danish Krone.
He further said that Ministry of Maritime Affairs and Denmark’s government were continuously working from last six months to reach at fruitful conclusion.
The Danish ambassador also thanked to government of Pakistan and Minister for Maritime Affairs on this progress.
Both sides are willing to strengthen ties for the growth of maritime sector.
