KARACHI: Planning Minister Ahsan Iqbal on Monday described Pakistan as a “natural maritime bridge” connecting the East and the West, while inaugurating the second edition of the Pakistan International Maritime Expo and Conference (PIMEC) at the Expo Centre Karachi.
The four-day event, organised under the patronage of the Pakistan Navy and supported by federal and provincial departments, is being attended by representatives from 45 countries and features over 150 local and 28 international exhibitors.
Highlighting Pakistan’s geostrategic position, Iqbal said the country sits at the convergence of South Asia, Central Asia, the Middle East, and Africa — offering it immense maritime potential. However, he lamented that the maritime sector contributes less than one per cent to the national GDP, compared to 4–7pc in several maritime nations.
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He pointed out that Pakistan’s 1,000km coastline and a 290,000sq km exclusive economic zone hold “vast offshore potential” in renewable energy, fisheries, and minerals. Linking this potential to the government’s Uraan Pakistan vision to transform the country into a $1 trillion economy by 2035, the minister underscored the 5Es framework — exports, e-Pakistan, equity and empowerment, environment and climate change, and energy and infrastructure.
“The world’s prosperity literally sails on the seas,” Iqbal said, quoting UNCTAD data that shows 80pc of global trade by volume and 70pc by value is carried by sea. He added that the global blue economy contributes $2.5 trillion annually to global GDP and sustains 350 million jobs worldwide.
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Representatives from countries including the United Kingdom, Saudi Arabia, China, Egypt, and Turkiye are among 133 international delegations attending the event. Experts believe that Pakistan’s maritime sector could generate over $100 billion annually if properly developed.