Auto sector seeks bigger pie of export market
PHOTO: FILE
Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), on Friday, underscored the need to scale up international trade with special focus on Africa and other non-traditional markets to find more bilateral partners for auto parts exports from Pakistan.
Talking to a delegation of foreign ambassadors and commercial heads from the Foreign Service Academy (FSA) visiting the PAAPAM head office on Friday, PAAPAM Senior Vice Chairman Usman Aslam Malik explained that Pakistan needs to enhance the size of its export basket by introducing products to non-traditional markets.
“Auto parts and accessories are among the commodities that have great export potential. All that is required is an initiative to utilise the available resources to expand our export base,” he said.
Led by FSA Director Irfan Shoukat, the delegation comprised of envoys from Bulgaria, Kenya, Maldives, Somalia, South Africa, Sudan, Tajikistan, Turkmenistan, and Uzbekistan took keen interest in boosting trade ties, especially in the auto sector. The delegation also invited PAAPAM members to visit their countries to explore other export markets and import raw material.
The PAAPAM vice chairman gave a thorough presentation on Pakistan’s auto parts Industry and cited the technologies, quality standards of Pakistani made parts and apprised the delegation about its members production capacities.
He also explained that a PAAPAM delegation plans visit Africa to the explore the market for potential trade engagement.
“Africa, Latin America, Russia and Central Estates are fertile areas for Pakistani auto products. The logistic barriers, banking issues, trust deficit, and fear of the unknown can be removed by creating a corporate presence in these markets,” hoped Malik.
Former PAAPAM Chairman Syed Nabeel Hashmi explained the current status of the auto sector in Pakistan, and gave a detail of the opportunities for Joint Ventures in the auto sector.
At the end, PAAPAM leaders said, “Auto parts vendors have the potential to grab a big share of the international market.”
Published in The Express Tribune, March 11th, 2023.
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