Xinjiang-based companies to make heavy investment in Gwadar

Beijing: As many ass five Chinese companies based in Karamay Xinjiang region have pledged to make heavy investment in Gwadar port for its rapid development, according to Karamay’s publicity department, reported China Daily on Tuesday.

Senior representatives of these companies recently paid five-day visit to Gwadar and entered into agreements with the Gwadar’s Development Authority.

According to the report, the five enterprises and Gwardar reached initial cooperation agreements in hotel construction and management, concrete supply, sale of building materials, agricultural planting technology services, and marine products trade. Gwardar, a superior deep-water port and Karamay city in Xinjiang Uygur autonomous region have been sister cities since April 21, 2015. Meanwhile, a Forum of Chinese Think-Tank at its recent meeting held in Karamay urged entrepreneurs from both the countries to undertake socio-economic projects for the implementation of China-Pakistan Economic Corridor (CPEC). It called for proactive cooperation for their mutual benefits. It was decided that the forum will act as an interactive platform for the business community and think-tank to share information, explore cooperation opportunities, and to actively launch mutually beneficial cooperation in such fields as infrastructure, information technology, electricity, energy, agriculture, aquaculture, e-commerce, education, vocational training and climate change.

It emphasised that the two countries should promote the smooth flow of new production factors such as science and technology, capital, management expertise and talent, and information, and implement international cooperation covering joint research and development (R&D), technology transfer, commercialisation of R&D results, standardisation and promoting innovation through exchange of ideas and experiences. The forum also called for close collaboration between the city of Karamay and Gowadar Port. Karamay is the only city in the world named after its oil fields, a city established in response to the needs of times. Gwadar Port is a city in the world named after its wind. The corporation of both the cities will make them the model of cities in various fields.