Ahsan Iqbal formally inaugurates PIMEC 2025
The global Blue Economy today contributes more than $2.5 trillion annually to world GDP
Independent News Bureau
KARACHI: Federal Minister for Planning, Development and Special Initiatives Prof. Ahsan Iqbal on Monday formally inaugurated a four-day Pakistan International Maritime Expo and Conference (PIMEC) 2025 here at Expo Centre.
The inaugural ceremony was attended by Minister of Transport and Logistic Services of Kingdom of Saudi Arabia His Excellency Engineer Saleh bin Nasser Aljasser, Governors of Sindh Kamran Khan Tessori and Balochistan Jaffar Khan Mandokhel, Sindh Chief Minister Syed Murad Ali Shah, Chief of the Naval Staff Admiral Naveed Ashraf NI (M), and others.
Addressing the ceremony, the Federal Minister for Planning, Development and Special Initiatives Prof. Ahsan Iqbal said that Pakistan was blessed with a 1,050 kilometer coastline, exclusive rconomic zone of nearly 290,000 square kilometers and vast offshore potential in renewable energy, fisheries, and mineral resources.
He said that the maritime sector despite these advantages currently contributes less than 1 percent to GDP, compared to 4–7 percent in many maritime nations. This gap represented untapped opportunity and a strategic imperative for national development.
While terming Pakistan as a natural maritime bridge between the East and the West and said that Pakistan had a unique geography position, where South Asia, Central Asia, the Middle East, and Africa converge.
Iqbal said that according to UNCTAD 2024, over 80 percent of global trade by volume and 70 percent by value is carried out by sea.
He said, ‘the global Blue Economy today contributes more than $2.5 trillion annually to world GDP, and sustains over 350 million jobs across shipping, ports, fisheries, energy, coastal tourism, and emerging marine industries.’
He was of view that if Blue Economy were a nation, it would be the seventh largest economy in the world.
The Planning Minister said that oceans had re-emerged as the highways of global commerce, energy, and communication and nations that harness them wisely were shaping the future of economic power.
Ahsan Iqbal said that Pakistan International Maritime Expo and Conference was not just an event it was a movement to reimagine Pakistan’s economic destiny from the land to the sea.
He said that PIMEC provided a powerful platform for partnerships among government, industry, academia, and the international community.
He stressed to forge collaborations
through this forum in shipbuilding and logistics, marine biotechnology and aquaculture, digital port management and artificial intelligence, renewable offshore energy and coastal tourism and services.
He said that Pakistan welcomed international partners to join hands in investment, innovation, and capacity building.
‘Together, we can transform the Indian Ocean region into a hub of sustainable trade, growth, and peace, he added.’
The Minister said’ This prestigious event is not only a showcase of Pakistan’s maritime potential but also a global platform for partnership, innovation, and shared prosperity.’
Addressing the participants, he further said that your presence in Karachi was a testament to our growing recognition as a key player in the emerging Blue Economy of the 21st century.
The Federal Minister also commended Pakistan Navy and Ministry of Maritime Affairs for organizing the remarkable event that places Pakistan at the crossroads of global maritime dialogue and opportunity.
Speaking on URAAN Pakistan initiative, Iqbal said we embark on the journey to a $1 trillion economy by 2035 and Blue Economy would be one of anchors of export-led growth under the visionary leadership of the Prime Minister of Pakistan.
The Minister said that under URAAN Pakistan 5Es framework included Exports, E-Pakistan, Equity & Empowerment, Environment (including Food & Water Security), and Energy & Infrastructure.
He further said that eight key drivers of export-led growth had been identified, which would propel Pakistan toward its goal of $100 billion in annual exports by 2035.
Iqbal said that Pakistan was undertaking a series of strategic initiatives including modernization of Karachi, Port Qasim, and Gwadar Ports into smart, green, and efficient logistics hubs.
On the occasion, Minister of Transport and Logistic Services of Kingdom of Saudi Arabia His Excellency Engineer Saleh bin Nasser Aljasser said, ‘I am deeply honoured to be here in Pakistan.’
He said that PIMEC was an important international event. He said that Saudi Arabia and Pakistan had brotherly and deep relations.
Earlier, Commander Karachi Vice Admiral Muhammad Faisal Abbasi thanked federal and Sindh governments for PIMEC arrangements.
Later, Federal Minister for Planning, Development and Special Initiatives Prof. Ahsan Iqbal presented souvenirs and visited stalls along with Minister of Transport and Logistic Services of Kingdom of Saudi Arabia His Excellency Engineer Saleh bin Nasser Aljasser.
