KARACHI: The second day of the Pakistan International Maritime Expo and Conference (PIMEC) is underway at the Karachi Expo Centre, attracting participation from delegations representing 44 countries.

According to organizers, a total of 176 exhibitors, including 28 international and 150 local companies, are showcasing their products and innovations at the event.

A two-day Maritime Conference has also begun as part of PIMEC, where global experts in maritime affairs will present research papers and discuss key developments in the sector.

Among the international participants, Iran’s pavilion has become a major attraction for visitors, while Türkiye has also set up its own display at the exhibition.

The primary objective of hosting PIMEC is to promote the Blue Economy and encourage growth in maritime trade and industry in Pakistan.

The two-day Maritime Conference formally commenced as part of the ongoing Pakistan International Maritime Expo and Conference (PIMEC) at the Karachi Expo Centre. Global experts in maritime affairs are presenting research papers and sharing insights on the growth potential of the maritime sector.

Federal Minister for Finance Muhammad Aurangzeb, addressing the conference via Zoom from Islamabad, congratulated the Pakistan Navy and the Ministry of Maritime Affairs for successfully organizing the international event.

Aurangzeb said it was encouraging to see the international maritime conference being held in Pakistan, adding that the Blue Economy could prove to be a game changer for the country’s economic future.

He acknowledged that Pakistan’s economy had temporarily weakened due to recent floods, but noted that “leading global financial institutions are now recognizing Pakistan’s improving economic trajectory.”

The finance minister emphasized that one of the key goals of the maritime conference was to attract foreign investment and highlight the potential of the Blue Economy in strengthening Pakistan’s economy.

“Through the Blue Economy, Pakistan can achieve its future economic targets,” he said, stressing the need to increase exports and ensure affordable energy for sustainable growth.

Aurangzeb assured participants that the government is committed to resolving policy-related challenges associated with the Blue Economy.

Highlighting Pakistan’s recent economic progress, he said that over the past two and a half years, the government has taken concrete steps toward stability, resulting in a sharp decline in inflation and a reduction in policy rates.

He added that three global credit rating agencies have commended Pakistan’s recent economic measures and that strong coordination among ministries is contributing to continued improvement.

Aurangzeb reaffirmed that the Finance Ministry would extend full cooperation to ensure economic stability, noting that Pakistan also enjoys support from friendly countries in promoting trade and investment.

The finance minister expressed confidence that the Blue Economy could revolutionize Pakistan’s economic landscape, pointing to the vast potential in fisheries and aquaculture. He also said that steps are being taken to modernize Karachi, Gwadar, and Port Qasim, further enhancing Pakistan’s maritime capabilities.

Vice Chief of Naval Staff, Vice Admiral Raja Rab Nawaz, visited various stalls at the exhibition and reviewed a range of modern naval and defense equipment on display.

During the visit, he was given a detailed briefing on Pakistan-made defense technologies and warfare systems, highlighting the country’s progress in indigenous defense production.