Islamabad, Oct 2 (Alliance News): Minister for Maritime Affairs Qaiser Ahmed Shaikh signed a memorandum of understanding (MoU) with Denmark’s Minister for Industry, Business and Financial Affairs, Morten Bodskov, on Wednesday, paving the way for significant investment in Pakistan’s maritime sector.
During a ceremony attended by key officials, including Finance Minister Mohammad Aurangzeb and Commerce Minister Jam Kamal, the signed MoU heralds an investment of nearly $2 billion from Maersk, a prominent Danish shipping company, into Pakistan’s maritime infrastructure.
The event was marked by the presentation of the signed document by Denmark’s Ambassador to Pakistan, Jacob Linulf.
Minister Qaiser Ahmed Shaikh expressed gratitude to the Government of Denmark for this breakthrough, stating that the MoU would enable the establishment of integrated logistics hubs at all ports, the development of a deep-water container terminal in Karachi, and the creation of International Maritime Organization (IMO) and European Union (EU)-compliant ship recycling facilities in Gaddani.
The agreement also includes provisions for upgrading the curriculum and equipment at the Pakistan Marine Academy, as well as continuous technical and training assistance for Pakistani ports.
Highlighting Maersk’s significant market presence, the minister noted that the company holds a 20% market share in containerized imports and exports in Pakistan, with a global market capitalization of approximately 175 billion Danish Krone.
He added that the Ministry of Maritime Affairs and the Danish Government had been working collaboratively for the past six months to finalize this agreement.
Danish Ambassador Jacob Linulf also expressed appreciation to the Pakistani Government and Minister Shaikh for their efforts, emphasizing both countries’ commitment to strengthening ties for the advancement of the maritime sector.
