Gwadar Port has emerged as a crucial player in global trade and geopolitics, particularly in the New Great Game unfolding in Central Asia. Initially envisioned as a trade and transit hub, it now serves as a strategic asset for China, securing energy supply routes through CPEC and expanding its influence in the Indian Ocean. India perceives Gwadar as a threat to its regional dominance and counters it by investing in Iran’s Chabahar Port to strengthen connectivity with Central Asia. The United States also opposes China’s growing presence in the region, raising concerns over strategic dominance. Meanwhile, Central Asian states view Gwadar as a key trade corridor providing access to warm waters. However, regional tensions, security challenges, and competing interests hinder their full potential. This study explores Gwadar’s economic and strategic significance, the evolving power dynamics surrounding it, and policy recommendations for Pakistan to establish Gwadar as a major global trade and economic hub.