Lahore
\nIn a significant development for Pakistan\u2019s footwear industry, The Association of Guangdong Shoes Manufacturers, TAGSM of China has expressed its intention to invest billions of rupees in Pakistan\u2019s shoe industry. Mr Suilong Liu, Chairman AGSM visited Lahore alongwith 10 Chinese Delegates from 3 – 8 June 2024 . PFMA host the Chinese delegation, arranged their B2B meetings with Pakistani footwear industry and government officials.
\nThe Chinese delegation visited Pakistan from June 3 to June 8, 2024 and witnessed various shoe-making factories where they have had B2B meetings with the Pakistani counterparts. In April this year, a Pakistan delegation headwd by Mansoor Ehsan Sheikh, Chairman PFMA also visited China and met with the leading shoe-makers there.
\nMr. Suilong Liu, marking a new chapter in bilateral trade relations and potential economic growth. During his visit, Mr. Liu had various meetings with Mr Mansoor Ehsan Sheikh and finally signed a MOU at the Punjab Board of Investment and Trade (PBIT) jn the presence of Chaudhry Shafay Hussain, Minister of Trade & Investment Punjab, the both Chairmen highlighted the shared enthusiasm for strengthening ties between the two countries\u2019 footwear sectors.
\nMinister for Trade & Investment, Mr. Shafay Hussain, praised PFMA for their pivotal role in attracting investment in Pakistan. \u201cThe success of this visit exemplifies our commitment to fostering international trade relations and attracting foreign investment,\u201d said Mr. Hussain. He further acknowledged the role of PFMA and those of Mr. Ahmed Fawad Farooq, whose dedicated efforts have been instrumental in attracting investors to Pakistan\u2019s shoe industry.
\nMr. Liu\u2019s visit underscored the immense potential of Pakistan\u2019s shoe market. \u201cPakistan represents a burgeoning market for footwear with vast opportunities for growth and development,\u201d stated Mr. Liu. He expressed confidence in the country\u2019s economic prospects and reiterated his commitment to investing substantially in Pakistan\u2019s shoe manufacturing sector.
\nhe Chinese delegates plan to invest in 1st phase Rs. 2 bilion, and will increase their investment quantum to Rs. 20 billion in the 2nd phase, reflecting the long-term vision and belief in the Pakistani market,\u201d he added. The collaboration between TAGSM and PFMA is expected to bring state-of-the-art technology, modern manufacturing techniques, innovative designs to Pakistan\u2019s footwear industry and development of supply chain materials market. This partnership aims not only to boost local production capabilities but also to enhance the quality and competitiveness of Pakistani footwear in global markets.
\nChairman of PFMA Mr. Mansoor Ehsan, welcomed the investment and highlighted its potential impact on the local economy. \u201cThis investment will create numerous job opportunities and contribute to the overall economic development of Pakistan. We look forward to a mutually beneficial partnership with TAGSM,\u201d he remarked.
\nThis landmark investment signals a promising future for Pakistan\u2019s footwear industry, paving the way for increased exports and solidifying the country\u2019s position in the international market.
\nThe collaborative efforts of PBIT, PFMA and key figures like Mr. Ahmed Fawad Farooq and Minister Shafay Hussain have been crucial in making this vision a reality<\/p>\n","protected":false},"excerpt":{"rendered":"
Lahore In a significant development for Pakistan\u2019s footwear industry, The Association of Guangdong Shoes Manufacturers, TAGSM of China has expressed its intention to invest billions of rupees in Pakistan\u2019s shoe industry. Mr Suilong Liu, Chairman AGSM visited Lahore alongwith 10 Chinese Delegates from 3 – 8 June 2024 . PFMA host the Chinese delegation, arranged […]<\/p>\n","protected":false},"author":2,"featured_media":413171,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-413147","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n