In line with the vision and directives of the Prime Minister of Pakistan to boost exports and trade, Pakistan Customs has facilitated the clearance of the first import cum export consignment by M/s HK Sun Corporation limited, which will be further processed at the Gwadar Free Zone established under China-Pakistan Economic Corridor (CPEC), following which items will be exported from Pakistan.
The first consignment consisting of metal scrap was processed and cleared by the Model Customs Collectorate, (A&F) West, Karachi, and the goods reached the Gwadar Free Zone regulated by the Model Customs Collectorate, Gwadar. More shipments of raw materials of the same company are underway to Pakistan, which will be further used in the manufacturing of goods to be exported.
M/s HK Sun Corporation is the first enterprise that has started manufacturing and processing activity in the free zone followed by other investors to contribute to the development of Pakistan’s first-ever free zone.
According to the concession agreement signed between the China Overseas Ports Holding Company (COPHC) and the Gwadar Port Authority (GPA), the development and operation of the Gwadar Free Zone are being performed by the COPHC. The planned development period is from 2015 to 2030, which is divided into four phases.
With the import of the current consignment, the Gwadar Free Zone has practically become operational leading to the development of other economic zones under the CPEC in Pakistan. The free zone will integrate and strengthen the linkage of industries between China and Pakistan. The free zone is positioned as Gwadar’s economic development engine aiming to transform the international trade logistics hub under the CPEC. The project will create employment opportunities for the local population and will catalyze the economic growth and development of the country.
The Federal Board of Revenue (FBR) is committed to achieving the vision of Prime Minister Imran Khan, and is taking such landmark steps to facilitate and provide support for the swift clearance of Free Zone Cargo to prevent the possibility of loss or hardships to the export industry. Such steps will boost exports and result in trade facilitation by ensuring the competitiveness of Pakistan’s exported goods in international markets.