After the entry of two South Korean giants (Hyundai/ KIA) in the Japanese dominated Pakistani automobile market, Chinese manufacturers are also showing keen interest in setting up assembling plants in the country.
A delegation of Chinese manufacturers and assemblers of automobiles including heavy-duty trucks, engines, auto parts and tires have expressed interest in setting up vehicle manufacturing plants in Pakistan. The delegation, comprising representatives of about 500 auto companies, expressed the desire for investment during a visit to the Islamabad Chamber of Commerce and Industry (ICCI).
Delegation members which consisted of notable companies including Jinan Zhongzhan International Trade, Jinan Bonaite Trading Company, Hebei Xinjiu Heavy Duty Machinery Makes Company, Sinotruck and Shanghai Cheezmail E-Commerce Company, insisted that they were producing vehicles in line with European Union standards and were keen to explore business opportunities for vehicle, engine and auto-part manufacturing in Pakistan.
The members said that initially they are interested in finding local partners for supply of automobiles and auto parts in Pakistan and on successful operation of business they would try to set up auto manufacturing plants and bonded warehouses through joint ventures and investment in Pakistan. The delegation members said they also wanted to share their technical know-how and expertise with Pakistani manpower in this field.
It was decided that the ICCI would organize a seminar to create awareness in the local business community about auto products and prospects of business collaborations with Chinese counterparts. ICCI President Sheikh Amir Waheed said heavy duty trucks and vehicles have large scope in Pakistan as road freight transportation contributed over 90% of the goods transported by land.
Full Story: Tribune