An International Maritime Symposium with the theme of "Impact of Belt and Road Initiative on Geo-Economics of Indian Ocean Region" is underway in Islamabad, reported by Radio Pakistan

Prime Minister Shahid Khaqan Abbasi is chief guest on the occasion.

In his welcome address, Chief of Naval Staff Admiral Zafar Mahmood Abbasi said despite numerous challenges, Pakistan Navy has formulated a robust strategy to safeguard national maritime interests.

The Naval Chief said the Prime Minister has approved setting up of a modern shipyard at Gwadar which would contribute significantly to Pakistan's economy. 

He said the Government is fully alive to Pakistan Navy's needs and providing essential support in meeting the emerging security imperatives.

The Ministry of Ports and Shipping has been renamed as Ministry of Maritime Affairs to broaden its scope.

Admiral Zafar Mahmood Abbasi expressed the confidence that BRI and CPEC would help realize the goal of shared prosperity of the region.