ISLAMABAD: The Pakistan Customs cleared the first import-cum-export consignment for Gwadar Free Zone, consisting of metal scrap, the Federal Board of Revenue (FBR) announced in a statement issued here on Wednesday.
The consignment which is by the HK Sun Corporation Ltd. would be further processed in the Gwadar Free Zone, established under China-Pakistan Economic Corridor (CPEC) and later on items would be exported from Pakistan, the statement said.
The HK Sun Corporation is the first enterprise that has started manufacturing and processing activity in the free zone. More shipments of raw material of the same company are underway to Pakistan which will be further used in the manufacturing of goods, which would be exported.
Other investors will also contribute to the development of the country’s first ever free zone.
“With the import of the current consignment, the Gwadar Free Zone has practically become operational, leading to the development of other economic zones under CPEC in Pakistan,” the FBR statement said.
“The free zone would integrate and strengthen the linkage of industries between China and Pakistan. The free zone is positioned as economic development engine of Gwadar aiming to transform international trade logistics hub under CPEC.”