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Chinese Company Quits Gwadar Free Zone Ahead of PM Shehbaz Sharif's China Visit
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Business·03.05.2026Résumé IA

Chinese Company Quits Gwadar Free Zone Ahead of PM Shehbaz Sharif's China Visit

A Chinese company operating in Pakistan's Gwadar Free Zone has shut down operations, citing an unworkable business climate and mounting financial losses, just ahead of Prime Minister Shehbaz Sharif's expected visit to China for an investment forum. Hangeng Trade Company announced the closure on International Labour Day, stating that despite meeting international export standards, its shipments remained stuck, pushing the business into sustained losses. The company had attempted to resolve issues with authorities for three months without success. Meanwhile, Iran submitted a new peace proposal to Pakistan on April 30 aimed at ending the West Asia conflict with the US, following Washington's amendments to a draft plan. The US announced new sanctions on Iran's financial and energy networks on May 1.

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