Gwadar Free Zone agreement with Xinjiang Pilot Free Trade Zone

Gwadar Free Zone agreement with Xinjiang Pilot Free Trade Zone aims to strengthen partnership and development.

In a strategic initiative, the Gwadar Free Zone (GFZ) signed an economic agreement with the Xinjiang Pilot Free Trade Zone (XPFTZ) on August 16 to foster interactive development in logistics, trade, and commerce under the China-Pakistan Economic Corridor (CPEC). An official from the Gwadar Port Authority confirmed that the agreement has been sent to the XPFTZ administration for necessary actions.

The China Industry Overseas Development Association is also involved in accelerating the coordinated development between the two regions. The agreement aims to promote economic growth in both trade zones, enhancing cooperation in energy, textiles, agriculture, trade, and logistics. A joint working group will be established to oversee coordination and implementation, with regular communication mechanisms among all parties.

The Gwadar Free Zone consists of the Gwadar South Free Zone, covering 60 acres, and the Gwadar North Free Zone, spanning 2,221 acres. The Xinjiang Pilot Free Trade Zone includes parts of Urumqi, Kashgar, and Khorgos, covering 179.66 square kilometers.

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