Pakistan’s automotive export ambitions received a boost as MG JW Automobile Pakistan signed an agreement with Bangladesh’s RANCON Group to expand vehicle exports and deepen cooperation in the auto sector.
The two companies signed a Memorandum of Understanding (MoU) in Islamabad, under which MG JW Automobile will initially ship 100 locally assembled vehicles to Bangladesh during the current year.
The partnership targets exports of up to 5,800 vehicles over the next four years, marking one of the major export initiatives for Pakistan’s locally assembled automotive industry.
Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, who attended the signing ceremony, said the agreement supports Pakistan’s goal of increasing exports, strengthening domestic manufacturing, and attracting industrial investment.
He added that the government is working on a new Auto Policy aimed at boosting vehicle exports, improving localization, and expanding Pakistan’s manufacturing capabilities.
RANCON Group Executive Director Muhammad Mostafizur Rashid Bhuiyan said Pakistani vehicles could bring greater competition and more choices to Bangladesh’s automobile market.
MG JW Automobile CEO Jianqiang Shao said the company plans to further expand exports from Pakistan to regional and global markets as the country’s auto sector develops.
