ISLAMABAD, MG JW Automobile Pakistan and Bangladesh’s RANCON Group have signed a Memorandum of Understanding (MoU) to export Pakistani-manufactured vehicles to Bangladesh, marking a significant step toward strengthening bilateral trade and industrial cooperation.
According to Pakistan’s Ministry of Industries and Production, the agreement provides for the export of 100 vehicles during the current year, with total shipments expected to reach 5,800 vehicles over the next four years.
The agreement is expected to enhance economic cooperation between Pakistan and Bangladesh by expanding business-to-business partnerships and increasing bilateral trade in the automotive sector.
Officials said the initiative would also help diversify Bangladesh’s automobile market by offering consumers a wider range of competitively priced vehicles.
Speaking at the signing ceremony, Muhammad Mostafizur Rashid Bhuiyan, Executive Director of RANCON Group, said the partnership would introduce healthy competition in Bangladesh’s automotive industry.
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He noted that Bangladeshi consumers would benefit from access to high-quality vehicles manufactured in Pakistan while enjoying greater choice in the local market.
Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, welcomed the agreement and expressed confidence that it would further strengthen trade and economic ties between the two countries.
He said such collaborations create new opportunities for private-sector engagement and support the government’s efforts to expand Pakistan’s export base.
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The MoU signing ceremony was attended by senior executives of both companies, government representatives, and members of the business community, highlighting the growing interest in expanding commercial cooperation between Pakistan and Bangladesh.
The agreement is expected to pave the way for future partnerships in manufacturing, trade, and industrial development between the two South Asian countries.
