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China to establish Special Economic Zone in Gwadar

China to establish Special Economic Zone in Gwadar

GWADAR: A 20-member delegation from China offered a 3-day visit to Gwadar for the existing and future initiatives for promotion of sea-route economic activities through Gwadar Deep Sea Port vis-a-vis Gwadar Port Master Plan, enabling it for serving as a shortest route for Central Asia, South Asia and Middle East, especially linking vital silk route with China.

The visit was jointly sponsored by Industrial and Commercial Bank of China (ICBC) and Habib Bank Limited (HBL), which were working on a concept of development of Special Economic Zone (SEZ) in Gwadar. The said visit was in line with a series of policy initiatives under China-Pakistan Economic Corridor (CPEC) and bilateral and multilateral understandings between different Chinese and Pakistani public-sector, as well as private sector companies and organisations.

While visiting Gwadar Port Authority (GPA) the chairman GPA called upon the Chinese delegation to make use of the facilities and special incentives including tax exemptions offered by the government of Pakistan and Balochistan government. He said the Sino-Pak relationship was spanning over six decades of time-tested, government-to-government and people-to-people interactions. He said the natural location of Gwadar Deep Sea Port makes it an ideal port for shipping activities due to its easy access and natural depth. He said the port was already being handled by a Chinese company, which testifies the commitment of the Chinese government for developing the area with the government of Pakistan.

In his keynote address the head of the delegation the Mayor of Handan (Hebei Province), Mr. Gao Heping eulogized the Sino-Pak relationship and said the Gwadar Port could play as a regional hub for inter-state trade activities.