Pakistan and China commit to developing the Gwadar Free Zone. CPEC partners Pakistan and China have vowed to make significant contributions to the construction of the Gwadar Free Zone and port city, according to the most recent news. Both parties also agreed to begin construction on Gwadar Free Zone Phase-II, which will cover a total area of 2,221 acres.
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Meetings on Gwadar and socio-economic development were convened by Chinese and Pakistani authorities as part of two Joint Working Groups (JWG) on Gwadar and socio-economic development. The meetings were attended by members of the executive council from all sides of the political spectrum. One of the discussions focused on the significance of the Marketing and Investment Plan for the Free Zone, as well as the strategy for putting it into effect.
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According to the specifics, the plan for the Gwadar Free Zone would be presented to the Cabinet Committee on the China Pakistan Economic Corridor on March 20. (CPEC). Specifically, it was stated that this plan will address issues about project investment as well as the streamlining of the current investment policy.
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As a result, both sides expressed satisfaction with the steady progress made on various projects, which included completion of the Gwadar Port and its inclusion in the Afghan Transit Trade Route, completion of the Pak-China Technical and Vocational Institute, significant progress on the Eastbay Expressway, and the beginning of construction on the New Gwadar International Airport and the Pak-China Friendship Hospital.
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