MG JW Automobile Pakistan has signed a Memorandum of Understanding with Bangladesh’s RANCON Group. The agreement aims to expand vehicle exports and strengthen automotive cooperation. Officials announced the partnership during a signing ceremony in Islamabad.
Pakistan Targets Growth In Auto Exports
Under the agreement, MG JW Automobile will export 100 locally assembled vehicles to Bangladesh this year. The company expects total exports to reach 5,800 vehicles over the next four years.
The MoU was signed in the presence of Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan. He described the agreement as an important milestone for Pakistan’s automotive industry.
Moreover, Khan said the partnership would increase foreign exchange earnings. He added that it would also promote local manufacturing and support the government’s export-led industrial growth strategy.
New Auto Policy Focuses On Expansion
Haroon Akhtar Khan said Pakistan is preparing a new Auto Policy. The policy will encourage vehicle exports and increase localisation across the industry. It also aims to attract investment and strengthen the country’s manufacturing base.
Meanwhile, RANCON Group Executive Director Muhammad Mostafizur Rashid Bhuiyan welcomed the agreement. He said the partnership would increase competition in Bangladesh’s automobile market. Furthermore, he noted that consumers would gain access to quality vehicles assembled in Pakistan.
MG JW Automobile Chief Executive Officer Jianqiang Shao also reaffirmed the company’s export ambitions. He said the company remains committed to expanding vehicle exports from Pakistan to regional and international markets.
