Chinese, Pakistani firms sign $156m MoUs in leather and footwear

BEIJING  –  A dozen MoUs totaling $156 million were signed between Chinese and Pakistani enterprises at the Pakistan-China B2B Investment Conference on Leather and Footwear held in Guangzhou, China. In his opening remarks, Acting Consul General of Pakistan in Guangzhou, Sardar Muhammad welcomed participants, emphasising Pakistan’s potential for joint ventures and investment.

According to China Economic Net, he encouraged attendees to capitalise on the investment opportunities and incentives offered by Pakistan. He highlighted that seven Pakistani and 46 Chinese companies participated in over 150 business meetings, resulting in the signing of more than 12 MoUs and one letter of intent (LoI) valued at $15 million, contributing to the overall commitment of $156 million. Rahim Hayat Qureshi, Secretary of the Board of Investment Pakistan, provided an in-depth overview of Pakistan’s investment policies and extended an invitation to Chinese enterprises to consider Pakistan as a prime destination for investment in the leather and footwear sector. Suilong Liu, Vice Director of the China Leather Industry Association, underscored China’s status as a significant importer of raw leather and a top exporter of leather and footwear products. He also highlighted Pakistan’s potential as an attractive location for investment in this sector.