Islamabad: On October 2, 2024, Pakistan and Denmark solidified their commitment to enhance Pakistan’s maritime infrastructure with the signing of a memorandum of understanding (MOU) that promises a $2 billion investment from Denmark. The ceremony, held in Islamabad, marked a significant milestone in bilateral relations, particularly in economic and maritime cooperation.
According to Press Information Department, the MOU was signed by Pakistan’s Minister for Maritime Affairs, Qaiser Ahmed Shaikh, and Denmark’s Minister for Industry, Business and Financial Affairs, H.E Morten Bodskov. Denmark’s Ambassador to Pakistan, H.E Jacob Linulf, presented the signed document on behalf of the Danish minister at the ceremony.
The partnership, spearheaded by the Danish shipping giant Maersk, is set to channel substantial investment into Pakistan’s maritime sector. Plans include the development of integrated logistics hubs across all Pakistani ports, the establishment of a deep-water container terminal in Karachi, and the creation of ship recycling facilities compliant with International Maritime Organization (IMO) and European Union (EU) standards.
Minister Qaiser Ahmed Shaikh expressed gratitude to Denmark, emphasizing the profound impact of the agreement on Pakistan’s maritime capabilities. “This breakthrough is a testament to six months of dedicated efforts between our nations. It will significantly upgrade our maritime infrastructure and expand our shipping industry,” stated Sheikh.
The investment will also support the Pakistan Marine Academy in enhancing its curriculum and equipment, further boosting the country’s maritime education and training capabilities.
Danish Ambassador H.E Jakob Linulf reaffirmed Denmark’s commitment to fostering strong bilateral ties with Pakistan, focusing on sustainable development within the maritime sector. This agreement is expected to not only strengthen Pakistan’s maritime infrastructure but also boost its economic growth by enhancing its shipping and logistics industries.
The event was also attended by Pakistan’s Finance Minister Mohammad Aurangzeb, Minister for Commerce Jam Kamal, Minister for Industries Rana Tanveer, and other senior officials, highlighting the high level of integration and cooperation expected from this initiative.
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