Pakistan, China sign 43-year lease for Gwadar Special Economic Zone

Beijing: Pakistan has rented 2,300 acres to China for developing the first special economic zone in the deep sea port of Gwadar, CCTV reported today.

China has provided financial and technical support in the construction of the Gwadar port since March, 2002 at Pakistan’s request. The infrastructure construction was completed in February. The SEZ and the port, is part of the China-Pakistan Economic Corridor that aims to connect Gwadar to China’s Xinjiang via a transportation network. It will improve economic cooperation between the two countries.

The Pakistani government has granted the SEZ priority access to resources and preferential tax policies for investors.

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