GWADAR AND HAINAN FORGE STRONGER BONDS AS FREE TRADE ZONE PARTNERS

Hainan Province and China Overseas Port Holding Company Limited inked an online memorandum of understanding (MoU) on December 16th, which officially includes the Gwadar Free Zone in Pakistan as part of the Global Free Trade Zone (Port) Partnership Initiative.

"Gwadar Free Zone is located adjacent to Gwadar Port, which is Pakistan's third largest port and a vital deep-water port in South Asia. Its policy advantages and functional orientation are consistent with the Hainan Free Trade Port.” Dai Zhen, Director of Hainan Province's Foreign Affairs Office stated at the signing ceremony. “We aspire for both sides to fully leverage their strengths to deepen economic and trade cooperation, and jointly benefit the people of both regions."

Since the launch of the Global Free Trade Zone (Port) Partnership Initiative earlier this year in March, the Hainan Free Trade Port has established robust connections with management institutions of prominent overseas free trade zones and ports. So far, 11 overseas free trade zones and ports have joined this initiative.

Yu Bo, Chairman of China Overseas Port Holding Company Limited, which is responsible for the construction and operation of Gwadar Port, conveyed his enthusiasm for further collaboration. "Our aim is to establish deep cooperation in trade, logistics, industrial services, and talent exchange with Hainan Free Trade Port and other stakeholders of the Global Free Trade Zone (Port) Partnership Initiative.”

Located in the centre of the CPEC pilot region, Gwadar, Marina Enclave Gwadar is an upcoming gated community that will provide a luxurious and convenient environment for its residents. Those looking to make a safe investment in Gwadar may do so by purchasing one of the more than 700 residential or commercial plots available in this magnificent project. The investors may book a plot via an interest-free payment plan, with monthly instalments beginning at £80.