Karamay is to establish its first company in Gwadar, Pakistan in May, setting a new precedent for investing in this region.

Yufei, a local Karamay firm, specializes in the fishing industry and will inject new life into the port city by tapping the abundant resources of Gwadar.

The ties were made during a delegation’s visit to Gwadar led by Zou Xiehua, deputy secretary of Karamay municipal committee of the CPC from April 8 to 15.

This is the third trial organized by the Foreign and Overseas Chinese Affairs Office, and the Economic and Social Development and Research Center of the city in western Xinjiang Uygur autonomous region, with the aim of seeking new approaches and perspectives for investment.

Karamay sees it as a crucial link that will help it in its drive to become a global oil city.

Since the two cities established a sister-city relationship in 2015, remarkable achievements have been made, including through activities such as the Silk Road Economic Belt- Xinjiang Karamay Forum, and the China-Pakistan Economic Corridor (Karamay, Xinjiang) Forum.

The past few years have witnessed a growing friendship between the two countries. The next forum will take place in August.

“We will seize the opportunity to build trust with our foreign partners for the success of future trade deals,” said Cheng Xiansheng, director of Karamay’s Economic and Social Development and Research Center.

Gwadar, a warm-water, deep-sea port on the Arabian Sea, is a showpiece facility of the China-Pakistan Economic Corridor project, owing to its strategic location between South Asia, Central Asia and West Asia just outside the Straits of Hormuz.

Edited by James Skinner