| Gwadar: Turkey and Saudi Arabia have shown keen interest in making massive investments in the Gwadar Free Zone to establish warehouses, news sources reported on January 23.
Read: Pak, China vows to develop Gwadar Free Zone
The warehouses will be used by the companies for the temporary storage of tyres, automotive parts and batteries. The stored material will also be shipped to the markets of Central Asia, South Asia and Middle East countries. Recently, a delegation from both countries met with the officials and showed their desire to establish their warehouses. The authorities assured the delegation of cost-effective and commercially productive facilities with tax holidays. The delegation was briefed about the facilities including modern inventory solutions such as FIFO, LIFO, FEFO and LEGO; Batch/Lot expiry control and ABC analysis.
Read: Pak, Turkey likely to sign Preferential Trade Agreement soon
It is important to note that Gwadar Free Zone is one of the flagship projects of the China-Pakistan-Economic-Corridor (CPEC). The project offers 10 spaces for industries and companies on long-term leases with special tax incentives. Once completed, the Gwadar Free Zone will be the largest port-related infrastructure in the country. |
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