Pakistan and China signed six agreements on Monday for the development of Gwadar port as Islamabad formally inaugurated an economic free zone in Balochistan province that will be a key part of a multi-billion dollar transit corridor. Two agreements declared Pakistan’s Gwadar and China’s Tianjin as sister ports, and Gwadar and Piung as sister cities. Another agreement was for cooperation between Pakistan State Oil, Gwadar International Terminals Limited and Gwadar port. The Securities and Exchange Commission of Pakistan and China’s Free Trade Zone Company and Gwadar port and HATA Trade City inked two agreements on cooperation. Abbasi also inaugurated the Gwadar Free Zone, with state media describing it as “another milestone” in efforts to transform the China-Pakistan Economic Corridor into reality.

Source: Hindustan Times January 29, 2018 14:15 UTC