Pakistan signs economic zone deal with China


Pakistan has signed a deal with China, allotting thousands of acres of land for Beijing to develop a massive special economic zone in the deep sea port of Gwadar. The Gwadar port is one of the key projects under the framework of the China-Pakistan Economic Corridor. In a press briefing, China’s Foreign Ministry Spokesman Hong Lei said the project is beneficial for both countries.

“China and Pakistan are friendly neighbours who have been conducting cooperation in various fields based on mutual respect, equality and mutual benefit. Giving Chinese companies management rights at the Gwadar port is a business practice within the China Pakistan economic cooperation and trade, and part of mutually beneficial and friendly cooperation between the two countries,” Hong said.