Pakistan, Bangladesh Finalize Vehicle Export Agreement; 5,000 Cars Targeted by 2029

ISLAMABAD: Pakistan and Bangladesh have finalized a significant agreement for vehicle exports, with Pakistan setting a target to export 5,000 locally manufactured vehicles to Bangladesh by 2029, marking a major milestone for the country’s automotive industry.

Speaking to the media, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar described the agreement as a breakthrough, saying it would enable Pakistan to export locally assembled vehicles on a large scale for the first time.

He said the government is pursuing its vision of transforming Pakistan into a global manufacturing hub, adding that Chinese investment is playing a key role in achieving this objective.

Haroon Akhtar revealed that more than 150 Memorandums of Understanding (MoUs) have been signed for battery manufacturing in Pakistan. He added that 95% of mobile phones used in the country are now produced locally, while solar panel manufacturing will also begin domestically, helping reduce imports.

He further stated that the government has issued 86 licenses for the production of two-wheeler electric motorcycles, reflecting its commitment to promoting electric mobility.

Romo Rauf Chowdhury, Managing Director of RANCON Auto, said Bangladesh would collaborate with Pakistan on vehicle imports and noted that demand for electric motorcycles is growing rapidly in the Bangladeshi market.

Meanwhile, MG Pakistan CEO Jian Qiang Sao emphasized that every country should provide adequate support and protection to its automotive industry to ensure sustainable growth.