In a major development, Gwadar port started its first-ever direct export to China on May 24, as five containers carrying pharmaceutical raw materials left the Gwadar Free Zone for the Chinese port city of Tianjin, Hangeng Trading Company told Gwadar Pro.
The shipment will reach China within 30 days. Describing it as a major breakthrough, the company’s CEO Andy Liao said, “Starting from June, we will increase the volume of import and export goods. It’s a huge achievement and historical moment for Gwadar.”
Gwadar Port leads the high-quality development of China-Pakistan Economic Corridor, an important pilot project of the China-proposed Belt and Road Initiative and one of the main platforms for deepening bilateral cooperation.
“The direct exports will play a role in increasing remittances to Pakistan and improve Pakistan’s economy,” he said. “More investors and companies will come to Pakistan after seeing easy export facilities between Pakistan and China. Our special thanks go to Customs and Terminal Corporation for their 5-star service,” Liao added.
According to the company’s trading manager Abdul Razzaq, 30 local workers from Gwadar were employed for the processing of pharmaceutical raw materials.
He said that celebrations are going on in the Gwadar Free Zone and among all the stakeholders on this historical achievement.
Liao hoped and appealed that the State Bank of Pakistan can use Gwadar as a pilot park for RMB settlement as it will attract more investors to invest in Gwadar and also exports can bring foreign exchange, which is helpful for Pakistan’s economic development.