In a major development, exports have been set in motion for the first time in the Gwadar Free Zone in the backdrop of exemption from all sorts of taxes and customs duties for a period of 20 years.
Along with exports to foreign countries, the Gwadar Free Zone (GFZ) – both south and north – has also kick-started supply of trade articles and manufacturing items to the local market
of Pakistan.
Both phenomenal steps, aligned with the e-Custom (Web-based One Custom – WeBOC) system, are aimed at helping Pakistan realise its dream to become a high-performing export-oriented country in the international trading landscape.
Agvon, an enterprise incorporated into the Gwadar North Free Zone that deals in fertiliser import and processing, said it would sell 20,000 tons of potassium sulphate to Pakistani and international markets.
The company is expected to start its production facility by the start of next year. For this purpose, Agvon has already acquired 10 acres of land and the manufacturing setup is under construction.
Moreover, another industrial concern operating in the Gwadar Free Zone, HK Sun Corporation, will export its consignment to the tariff area in Pakistan.
“As per this module, functionalities pertaining to import and export from Gwadar that have been introduced include import from abroad to the Gwadar Zone through transshipment via both Karachi and Gwadar Ports, export to the tariff area and abroad from the zone,” a Gwadar Free Zone
official said.
“Additional modalities are expected to be introduced in the coming week, as stated by a document of Pakistan Customs.”
He said that export from the zone to the tariff area and abroad and vice versa through WeBOC would provide impetus to the industrialisation drive and enhance commercial activities in Gwadar and the region. “It will accelerate logistic services as well.”
THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET
Published in The Express Tribune, July 28th, 2022.
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