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Jan 31, 2013 | 05:46 GMT

Pakistan, Singapore, China: Gwadar Port Transfer Deal Approved

Pakistan's federal Cabinet on Jan. 30 approved a deal transferring control of Gwadar Port from Singapore to China, the Daily Times website reported. Information Minister Qamar Zaman Kaira said Port Singapore Authority International could not develop the Gwadar Port, and expressed the hope that its transfer to China would help boost Pakistan's deteriorating economy. Chinese firms have stepped up investments into South Asia in recent years.

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