Rancon, MG JW Pakistan sign MoU for vehicle exports
MG JW Automobile Pakistan has signed a Memorandum of Understanding (MoU) with Bangladesh’s RANCON Group to expand vehicle exports and strengthen automotive cooperation between the two countries.
Under the agreement, MG JW Automobile will export 100 locally assembled vehicles to Bangladesh this year, with total exports projected to reach 5,800 vehicles over the next four years.
Speaking on the occasion, Jianqiang Shao, CEO of MG JW Automobile Pakistan, said, “This MoU marks a proud moment for MG JW Automobile Pakistan and for Pakistan’s automotive industry.
Our partnership with RANCON Auto Industries Limited is an important step toward showcasing the strength of Pakistan’s local manufacturing capabilities in international markets, which strongly supported by its shareholder SAIC Motor”.
“With support of SAIC Motor, the business model shifts from China CBU exporting Bangladesh to MG Pakistan KD exporting. We are committed to expanding automotive exports, supporting localization, and contributing to the vision of making Pakistan a regional hub for automobile manufacturing and exports,” he added.
The MoU was signed in Islamabad in the presence of Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, who termed the agreement an important step toward increasing Pakistan’s automotive exports.
He said the partnership would help generate foreign exchange, promote local manufacturing, and support the government’s export-led industrial growth strategy.
The SAPM added that Pakistan is working on a new Auto Policy focused on boosting vehicle exports, increasing localization, attracting investment, and strengthening the automotive manufacturing base.
RANCON Group Executive Director Muhammad Mostafizur Rashid Bhuiyan said the partnership would introduce more competition in Bangladesh’s auto market while offering consumers access to quality vehicles from Pakistan.
MG JW Automobile CEO Jianqiang Shao reaffirmed the company’s commitment to expanding exports from Pakistan to regional and international markets.
