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i NEWS PAK-CHINA

Turkish, Saudi investors visit Gwadar Free ZoneBreaking

January 19, 2023

In a major development, Turkey and Saudi Arabia are mulling significant investments in the Gwadar Free Zone (North) with a magnitude of incentives as well as conducive business and trade activities in 2023. GPA official told Gwadar Pro that a representative of Turkish multinational corporation Nysan is visiting Gwadar Port on 18th January (Wednesday) with an objective to seek commerce & trade opportunities and potentials of establishing a warehouse in the Free Zone. Nysan Industrial Technology Group is a leading brand from Turkey operating globally. The Nysan Group deals in tyres, lead acid batteries, auto spare parts, CNC robotic machinery, lubricants and filters.  Gwadar port which serves the primary purpose of transhipment offers lucrative prospects to potential investors.

Another group consisting of senior office bearers of the Pakistan-Saudi Business Chamber, Lahore chamber and Pakistan Transport Council are also visiting on Wednesday. Their main purpose of the visit is to explore the sound viability of joint ventures in a wide range of businesses including petrochemical. GPA official said that Gwadar has many charms as it offers enormous business opportunities for both local and foreign Potential Investors. “The key industries suited Gwadar include port-centred service industries such as fishery, petrochemical industry, tourism, trade logistics and port-centred processing and manufacturing industries such as assembling of oil storage, refining, transport equipment, ship breaking, food & building materials processing, home appliances manufacturing electronics and Information industry,” he added.

Recently many foreign diplomats visited Gwadar including German ambassador in Pakistan Alfred Grannas, Karachi German Consulate Consul General Dr Rüdiger Lotz.  Meanwhile British Deputy High Commissioner and Director Trade for Pakistan Sarah Mooney also paid a 2-day visit to Gwadar. She also interacted with traders and members of the Gwadar Chamber of Commerce and Industry, praising Gwadar's development model. Last year in September a team of Canada’s Barrick Gold Corporation, headed by Michael Peter Nelson, arrived in Gwadar and showed an interest in making investments in the import and export of different minerals in the port city.

Credit: Independent News Pakistan-INP