In a significant breakthrough, exports have begun in the Gwadar Free Zone for the first time with a 20-year exemption from all kinds of taxes and customs charges.
The Gwadar Free Zone (GFZ), both north and south, has begun supplying trade goods and manufactured products to the Pakistani local market in addition to exports to other nations.
Both excellent initiatives, coordinated with the e-Custom (Web-based One Custom – WeBOC) system, are meant to assist Pakistan in recognizing its goal of becoming a high-performing export-oriented nation in the global trading environment.
Agvon, a company operating in the Gwadar North Free Zone that deals with the import and processing of fertilizers, said that it will sell 20,000 tons of potassium sulphate to markets in Pakistan and beyond.
The company is anticipated to commence its production facility by the start of next year. To this end, Agvon has already procured 10 acres of land and the manufacturing setup is underway.
In addition, another industrial entity operating in the Gwadar Free Zone, HK Sun Corporation, will export its shipment to the tariff area in Pakistan.
According to this module, Gwadar zone can import from abroad and export to tariff areas and abroad. A Gwadar Free Zone official has stated that additional modalities will be introduced in the week to come. This is according to a document from Pakistan Customs.
He stated that exporting from the zone to the tariff area and abroad, and vice versa, through WeBOC would provide impetus to the industrialization drive and amplify commercial activities in Gwadar and the region. “It will expedite logistic services as well.”