From November 3 to 6, the Pakistan Ministry of Maritime Affairs, with the support of Badar Expo Solutions and the Pakistan Navy, will organize the Pakistan International Maritime Expo & Conference (PIMEC) in Karachi.
PIMEC is Pakistan’s leading maritime event that serves as a platform to utilize its enormous potential in the maritime sector. The event will connect global industry leaders, government representatives, entrepreneurs, and investors.
With the expansion of maritime trade in the 21st century and the development of many new economic opportunities presented by the rise of China and the global South, the blue economy has become ever more important in the economic growth of a country. In this respect, Pakistan’s geostrategic location in the heart of Asia, which makes it an important bridging point between East and West Asia, and the development of the China-Pakistan Economic Corridor (CPEC) have further increased the possibilities for progress and growth in Pakistan’s maritime sector in the last decade.
Moreover, Pakistan has considerable marine capabilities, including a 1,000-kilometer coastline, a 240,000-square-kilometer Exclusive Economic Zone (EEZ), and a 50,000-square-kilometer Extended Continental Shelf (CS). The region is located along one of the busiest and most important maritime commerce routes in the world.
Therefore, PIMEC has undertaken the task of fully utilizing the opportunities presented. The conference will revolve around six major business opportunities that include shipbuilding, renewable energy, offshore oil drilling, marine biotechnology, desalination, and fisheries. These opportunities reflect both the food and energy demands of Pakistan’s growing population and its commitment to United Nations’ sustainable development goals.
PIMEC – Filling the Gap Between Potential and Reality
Despite being presented with many economic opportunities, Pakistan’s maritime sector has been lagging behind for decades. This lag is clearly visible in the estimates of potential growth in many sectors of the maritime economy. These include;
- An annual $4 billion potential in the coastal tourism sector
- $2 billion more in the fisheries annually
- $20 million more in the mangrove industry annually
- A $10 billion more annual potential in the shipbreaking industry
Hence, to rectify the gap between potential and reality, PIMEC will offer;
- Exposure to maritime technologies
- Connections with regional and global industry leaders
- Presentations from thought leaders
- Commercial maritime solutions
- G2B (Government to Business) and B2B (Business to Business) Engagement
- Opportunity to meet naval leaders
- And lastly, investment and venture opportunities
The first PIMEC in 2023 was truly a revolution. It launched Pakistan’s vision for the blue economy. However, the 2nd edition is set to put Pakistan’s maritime opportunities sector on the global stage. At a time when Pakistan has regained geostrategic importance in the backdrop of Operation Sindhoor and great powers have expressed their intent to enhance their business interests in Pakistan, PIMEC will provide the platform for these leaders across the globe to access business and investment opportunities. Hence, the event will also enhance Pakistan’s geo-economic clout.
Muhammad Omer Rafiq
Muhammad Omer Rafiq is a student of politics with a passion for making sense of our tumultuous political world that always seems to be on the edge. He recently graduated in International Relations from Lahore Garrison University. He can be reached at muhammadomerrafiq@gmail.com
