Pakistan’s Minister for Maritime Affairs, Qaiser Ahmed Shaikh, signed a significant agreement with Denmark’s Minister for Industry, Business, and Financial Affairs, Morten Bodskov, on Wednesday to overhaul Pakistan’s maritime sector. The agreement will also provide technical training to ports across the country, according to state media.
Pakistan’s seaports, primarily in Karachi, play a crucial role in international trade and provide employment to thousands. The country is eager to modernize and enhance its port infrastructure, and the new agreement marks a critical step toward this goal.
In August, it was reported that Danish shipping giant Maersk would invest $2 billion in Pakistan’s port and transport infrastructure over the next two years. The newly signed memorandum of understanding (MoU) reinforces this commitment.
“After this MoU, Maersk is set to invest almost $2 billion in Pakistan’s maritime sector,” the state-run Associated Press of Pakistan (APP) reported.
The agreement will enable the integration of logistics hubs at all ports, the establishment of a deep-water container terminal in Karachi, and the development of ship recycling facilities compliant with International Maritime Organization (IMO) and European Union (EU) standards. It will also help modernize the Pakistan Marine Academy by upgrading its curriculum and equipment while ensuring continuous technical training.
Shaikh highlighted that Maersk holds a 20 percent market share for containerized imports and exports in Pakistan, and the company’s global market capital stands at around 175 billion Danish Krone.
Danish Ambassador to Pakistan, Jakob Linulf, expressed gratitude to the Government of Pakistan and the Minister for Maritime Affairs for this progress. Both sides are keen to strengthen their partnership to support the growth of Pakistan’s maritime sector.
