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Bank of China plans to open branch in Gwadar port, says Pak official

CPEC is billed as a 'game-changer' & manifestation of a strategic partnership between Pak & China

Press Trust of India  |  Islamabad 

As Gwadar develops in the background, the fisherfolk of Gwadar seem to have no space [image by: Zofeen T Ebrahim]
As Gwadar develops in the background, the fisherfolk of Gwadar seem to have no space [image by: Zofeen T Ebrahim]

One of China's biggest is planning to open a branch near Pakistan's strategic amid growing partnership between the two countries, a senior Pakistani official said.

The deep-water port has a strategic importance for the Belt and Road initiative, a part of which - the $50 billion China-Economic Corridor (CPEC) - connects Pakistan's southern region to China's western Xinjiang region through rail and roads.


The is billed as a 'game-changer' and manifestation of a strategic partnership between and

Authority Chairman Dostain Khan Jamaldini said in a meeting yesterday that The Bank of is planning to open a branch in Gwadar in

Dawn reported that Jamaldini said that with the Gwadar Deep Seaport becoming operational, several commercial have become interested in opening branches in the port city and the Bank of would start doing business from Gwadar shortly - starting with setting up a branch in the city.

"Business and will flourish in Gwadar with the opening of branches of different national and banks," he said, adding that for the time the Oversees and Port Holding had allowed the opening of two in Gwadar and one of them was the Bank of

The chairman claimed that work on the Gwadar Free Zone had started.

He said the construction work would be completed in the next couple of months.

Jamaldini added that the Pakistani and Chinese were working in three shifts to complete the construction of the Gwadar Free Zone as soon as possible.

He disclosed that in the first week of December, Prime Minister along with some Chinese ministers would inaugurate the first expo centre in the free zone.

More than 100 Chinese companies are scheduled to participate.

Gwadar has become a hub of business activities due to billion China-Economic Corridor (CPEC) project which connects western with

First Published: Fri, August 11 2017. 14:40 IST
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