New direct shipping line to Europe will strengthen global trade
The weekly maritime service will commence its operations globally on February 5th with its first departure from Pakistan’s port city, Karachi.
Speaking as the chief guest Vice Admiral Faisal Abbasi HI (M), SI (M), Commander Karachi, Pakistan Navy at the launching ceremony on Wednesday, he said Pakistan is constantly seeking international partnerships to expand and strengthen its maritime activities.
The new service INX from Pakistan to Europe will ensure service will help timely and efficient delivery of Pakistani goods to the destined European ports and beyond.
The sea lines of communication (SLOCs) allow nations to stretch beyond their land borders, facilitating access to and exchange of raw materials and trade goods etc. Today, as much as 75% of international trade takes place over water and same is expected to continue growing in foreseeable future. With the most strategic location, the Country is at the crossroads of three geographical locations: the gateway to Central Asia, South West Asia and the Persian Gulf, the Vice Admiral Faisal Abbasi HI (M), SI (M) remarked.
Commander Karachi Faisal Abbasi added, “Our country has abundance of marine, fisheries, mineral and energy resources that can generate additional revenues. From the perspective of the potential of the Blue Economy, China-Pakistan Economic Corridor (CPEC) is estimated to expand the maritime capabilities of Pakistan manifolds.”
