International Day of Maritime Trade is observed every year to highlight the significance of the Shipping Industry, Maritime Safety & Security and Marine Environment Protection. As we are aware that the global economy is dependent on the maritime industry as most of the products are shipped through it. International Maritime trade binds the global economy together, linking nations together with sea lanes of communication, trade & supply chain. As per the United Nations Conference on Trade and Development (UNCTAD), over 80% of the volume of international trade in goods is carried by sea and the percentage is even higher for the developing countries. For most economies, including Pakistan, shipping is the beating heart of the country, aiding the realization of economic potential, inducing growth, creation of employment, and establishing global connectivity for trading goods, creating wealth through exports of competitively advantaged commodities. Increasing traditional and non-traditional maritime challenges as well as rising pollution levels, climate change is affecting freedom of navigation and marine environment. Owing to their magnitude and diversity, it is a collective responsibility of all maritime nations to contribute and collaborate in countering maritime challenges besides adopting international regulations and best practices for promoting an environment conducive to a sustainable shipping industry. The UN has projected moderately stable growth within this sector, with maritime trade to expand at an annual rate of 2.4% between 2022 and 2026. As it has been highlighted by United Nations Sustainable Development Goals Program, a sustainable blue economy; restores, protects and maintains marine ecosystems. It is based on clean technologies, renewable energy and circular material flows to secure economic and social stability over time. New technologies for greener shipping' is the World Maritime theme for 2022, reflecting the need to support a green transition of the maritime sector into a sustainable future, while leaving no one behind. The theme provides an opportunity to focus on the importance of a sustainable maritime sector and the need to build back better and greener in a post-pandemic world. Pakistan actively supports a greener transition of the shipping sector into a sustainable future, and showcases maritime innovation, research and development, and the demonstration and deployment of new technologies. On this Day, Pakistan pledges to be a prominent player and key stakeholder in global maritime trade by maintaining a diversified and efficient merchant shipping fleet and other marine assets compliant with international regimes on pollution control and environment protection. We also render full support towards the development of the maritime sector in general and the shipping industry in particular. We also reaffirm our commitment and resolve for eradicating marine pollution for a cleaner and green environment. I look forward to sincere efforts by all stakeholders to achieve sustainable development for capacity building in Pakistan’s maritime sector besides protecting marine ecosystems. EMBARGOED: NOT TO BE PUBLISHED/BROADCAST/TELECAST BEFORE 29-09-2022
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