The Navy is going to hold its first-ever Pakistan International Maritime Expo and Conference (PIMEC) alongside its multinational maritime exercise – AMAN – next year.
According to details, Pakistan Navy will soft launch the expo today. PIMEC will be held in collaboration with the Ministry of Maritime Affairs (MoMA).
With PIMEC, Pakistan Navy aims to provide the national maritime industry an opportunity to showcase its products on a single platform.
The conference/expo also envisions boosting the domestic maritime defense industry through bilateral ventures with major regional and international maritime defense manufacturers.
The maritime industry is central to Pakistan’s economy as more than 90% of the country’s trade takes place by the sea. Pakistan has a coastline of more than 1,000 km and an Exclusive Economic Zone (EEZ) of 290,000 sq km.
However, Pakistan’s maritime industry contributes only $450 million in revenue to the national economy, which is far less than its potential of more than $100 billion.
