MG JW Automobile Pakistan has signed an agreement with Bangladesh’s RANCON Group to export locally assembled vehicles to Bangladesh, marking a significant milestone for Pakistan’s automotive industry, according to a statement on Thursday.

Under the agreement, MG JW will export 100 vehicles to Bangladesh during the current year, with total exports projected to reach 5,800 vehicles over the next four years.

Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan witnessed the signing ceremony and said the agreement would generate millions of dollars in foreign exchange for Pakistan.

Khan said the government is finalising a comprehensive Auto Policy aimed at increasing vehicle exports, enhancing localisation and strengthening the country’s automotive manufacturing base.

The SAPM emphasised that Pakistan’s automotive sector has made remarkable progress in quality and production capacity, enabling locally manufactured vehicles to compete successfully in international markets. RANCON Group Executive Director Muhammad Mostafizur Rashid Bhuiyan said the agreement would introduce healthy competition in Bangladesh’s automobile market while providing consumers with high-quality vehicles from Pakistan.