MG JW Automobile Pakistan to export 100 vehicles this year as new partnership targets 5,800 units over four years.
ISLAMABAD: MG JW Automobile Pakistan and Bangladesh’s RANCON Group have signed a Memorandum of Understanding (MoU) to strengthen bilateral automotive cooperation and boost Pakistan’s vehicle exports, marking a significant step in the country’s efforts to expand its export-oriented manufacturing sector.
The agreement was signed on Thursday in the presence of Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan, who described the partnership as an important milestone for Pakistan’s automotive industry and its export-led economic strategy.
According to a statement issued by the Ministry of Industries and Production, MG JW Automobile Pakistan will export 100 locally assembled vehicles to Bangladesh during the current year, with total exports projected to reach 5,800 vehicles over the next four years.
The ministry said the agreement reflects growing international confidence in Pakistan’s automotive manufacturing capabilities and is expected to contribute significantly to the country’s foreign exchange earnings.
Speaking after the signing ceremony, Haroon Akhtar Khan said the agreement would generate millions of dollars in foreign exchange and support the government’s broader agenda of promoting export-led industrial growth.
He said the government is pursuing policies aimed at increasing exports, strengthening local manufacturing, attracting investment, and creating a business-friendly environment for industries.
The SAPM added that the government is finalizing a comprehensive Auto Policy focused on increasing vehicle exports, enhancing localization, and strengthening Pakistan’s automotive manufacturing base.
Haroon Akhtar Khan noted that Pakistan’s automotive industry has made considerable progress in improving product quality, increasing localization, and expanding production capacity, enabling locally manufactured vehicles to compete in international markets.
He reaffirmed the government’s commitment to supporting industries that contribute to exports, employment generation, and technological advancement.
Speaking on the occasion, Muhammad Mostafizur Rashid Bhuiyan, Executive Director of Bangladesh’s RANCON Group, said the partnership would introduce greater competition in Bangladesh’s automobile market while providing consumers with high-quality vehicles manufactured in Pakistan.
He added that Pakistan’s automotive sector has achieved international manufacturing standards and possesses strong export potential.
Jianqiang Shao, Chief Executive Officer of MG JW Automobile Pakistan, welcomed the agreement and reaffirmed the company’s commitment to expanding Pakistan’s automotive exports across regional and international markets.
The ceremony was also attended by Amir Nazir, Chief Operating Officer of MG JW Automobile Pakistan, senior government officials, company representatives, and members of the business community.