Pakistan to export automobiles to Bangladesh

Pakistan planned to export 100 vehicles to Bangladesh this year, while total exports are projected to reach 5,800 vehicles over the next four years, said the Pakistan High Commission in Dhaka today (31 July).

A Memorandum of Understanding (MoU) was signed between MG JW Automobile Pakistan and Bangladesh's RANCON Group for the export of vehicles from Pakistan to Bangladesh.

Under the agreement, as informed by the Ministry of Industries and Production of Pakistan, 100 vehicles will be exported to Bangladesh during the current year, while total exports are projected to reach 5,800 vehicles over the next four years, said the High Commission.

The partnership is expected to benefit Bangladesh by expanding the range of vehicles available in the market, promoting healthy competition, and providing consumers with more choices at competitive prices.

The agreement will also contribute to closer economic cooperation between Pakistan and Bangladesh and encourage greater business-to-business (b2b) collaboration.

Speaking on the occasion, Executive Director of RANCON Group, Muhammad Mostafizur Rashid Bhuiyan, said the agreement would introduce healthy competition in Bangladesh's automobile market while providing consumers with high-quality vehicles manufactured in Pakistan.

Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, welcomed the agreement and expressed confidence that such partnerships would strengthen trade and economic relations between Pakistan and Bangladesh and open new avenues for cooperation between the private sectors of the two countries.

The ceremony was attended by senior officials of both companies, government representatives, and members of the business community.