BEIJING: Pakistan and China have entered a new phase of maritime cooperation with the signing of a memorandum of understanding (MoU) between Pakistan National Shipping Corporation (PNSC) and China’s Shandong Xinxu Group.
Under the agreement, the Chinese company will provide capital investment and vessels to PNSC, facilitating collaboration in ship procurement, leasing, and management services. The deal also covers cooperation in ship operations, marketing, and crew management.
Federal Minister for Maritime Affairs Junaid Anwaar described the agreement as a milestone for mutual growth, stating that it would enhance regional trade, connectivity, and investment. He added that the initiative will strengthen Pakistan’s shipping industry and create a favorable environment for foreign investment in the maritime sector.
