BEIJING, June 6 (INP); A Memorandum of Understanding was signed for the development of sustainable and commercially viable aquaculture projects in Gwadar, China Economic Net (CEN) on Thursday.
The MoU, signed between China Overseas Ports Holding Company, Guangdong HaiWei Aquaculture Group, Gwadar Seafood Company, and HKH-CAS Pvt. Ltd, at a B2B matchmaking session of the “Pakistan China Business Conference” inaugurated by PM Shehbaz Sharif in Shenzhen.
It was aimed at to leverage the technological expertise, resources, and industry experience of the Chinese companies and the local knowledge and community connections of the Pakistani counterparts to support the growth of the aquaculture sector in Gwadar.
For this purpose, advanced aquaculture technologies, including hatchery management, farming techniques, and processing capabilities, are expected to be transferred from China based on feasibility assessments and site selection for aquaculture projects in Gwadar.
Contracting companies told CEN that investment will be made for the development of integrated aquaculture facilities and local personnel shall be trained in modern aquaculture practices.
While the aquatic sector contributes greatly to the livelihood of coastal residents in Pakistan, a lack of advanced facilities and knowledge support has been hindering them from fully leveraging this promising industry, which currently accounts for only less than one percent of GDP but has the potential to play a much bigger role in the national economy.
Apart from establishing sustainable and environmentally responsible aquaculture operations, the facilitation of market access and distribution channels for aquaculture products is also part of this joint endeavor.
Out of Pakistan’s total fishery exports, 60 percent are destined for China. Last year, China’s import of seafood from Pakistan surged by 13%, offering Pakistani exporters a vast market.
Under the China-Pakistan Free Trade Agreement, an increasing number of Pakistani aquatic product exporters enjoy zero tariffs.
Through technology transfer, knowledge sharing, and facilities investment, the aquaculture collaboration in the pipeline is expected to reduce local fishermen’s reliance on captured fish, which face constraints of primitive tools, uncertain weather, and absence of freezing equipment, and add value to the local industry through deep processing infrastructure.
INP/javed
