ISLAMABAD, Jul 30 (APP):MG JW Automobile Pakistan and Bangladesh’s RANCON Group signed a Memorandum of Understanding (MoU) on Thursday to boost vehicle exports and enhance automotive sector cooperation between the two countries. Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, witnessed the signing ceremony, which marks a step toward expanding Pakistan’s automotive exports in line with the government’s export-oriented economic vision. The agreement marks …
MG JW Automobile, Bangladesh’s RANCON sing MoU to boost vehicle exports
ISLAMABAD, Jul 30 (APP):MG JW Automobile Pakistan and Bangladesh’s RANCON Group signed a Memorandum of Understanding (MoU) on Thursday to boost vehicle exports and enhance automotive sector cooperation between the two countries.
Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, witnessed the signing ceremony, which marks a step toward expanding Pakistan’s automotive exports in line with the government’s export-oriented economic vision.
The agreement marks a significant milestone for Pakistan’s automotive industry and reflects the growing international confidence in the country’s manufacturing capabilities, said a press release issued by Ministry of Industry and Production.
It said, under the agreement, MG JW Automobile Pakistan will export 100 locally assembled vehicles to Bangladesh during the current year, while total exports are projected to reach 5,800 vehicles over the next four years.
Talking to the media after the ceremony, Haroon Akhtar Khan said the agreement would generate millions of dollars in foreign exchange for Pakistan and represents another important step towards achieving the Government’s export-led industrial growth agenda.
He said, Pakistan was pursuing policies that promote exports, strengthen local manufacturing, attract investment, and create a business-friendly environment for industries, adding the government was finalizing a comprehensive Auto Policy aimed at increasing vehicle exports, enhancing localization, and strengthening the country’s automotive manufacturing base.
The SAPM emphasized that Pakistan’s automotive sector has made remarkable progress in quality, localization, and production capacity, enabling locally manufactured vehicles to compete successfully in international markets.
He said the government would continue extending all possible support to industries that contribute to exports, employment generation, and technological advancement.
Speaking on the occasion, Muhammad Mostafizur Rashid Bhuiyan, Executive Director of RANCON Group, said the agreement would introduce healthy competition in Bangladesh’s automobile market while providing consumers with high-quality vehicles coming from Pakistan.
He noted that Pakistan’s automotive industry has achieved international manufacturing standards and possesses significant export potential.
Chief Executive Officer of MG JW Automobile Pakistan, Jianqiang Shao, welcomed the partnership and reaffirmed the company’s commitment to expanding Pakistan’s automotive exports to regional and international markets.
The ceremony was also attended by Amir Nazir, Chief Operating Officer of MG JW Automobile Pakistan, senior government officials, representatives of both companies, and members of the business community.
