China's Footwear Association pledges Rs 20 billion investment in Pakistan

In a noteworthy development, the Association of Guangdong Shoes Manufacturers (TAGSM) from China is set to make a substantial investment in Pakistan’s shoe industry, amounting to billions of rupees. This move, led by Mr Suilong Liu, Chairman of AGSM and a delegation of 10 Chinese representatives, took place in Lahore from June 3 to June 8, 2024. The visit included meetings with key players in the Pakistani footwear industry and government officials facilitated by PFMA.

The Chinese delegation toured several shoe-making factories and had B2B meetings with their Pakistani counterparts. Earlier this year, a delegation from Pakistan, led by Mansoor Ehsan Sheikh, Chairman of PFMA, visited China and met with leading shoe-makers there.

Mr. Suilong Liu expressed his enthusiasm for strengthening ties between the footwear sectors of both countries. He had several meetings with Mr Mansoor Ehsan Sheikh. He signed a Memorandum of Understanding (MOU) at the Punjab Board of Investment and Trade (PBIT) in the presence of Chaudhry Shafay Hussain, Minister of Trade & Investment Punjab, highlighting their shared enthusiasm for the future of the two countries’ footwear sectors.

Mr. Shafay Hussain praised PFMA for its role in attracting investment in Pakistan, emphasizing the commitment to fostering international trade relations and attracting foreign investment.

Mr. Liu emphasized Pakistan’s potential as a burgeoning market for footwear and expressed confidence in the country’s economic prospects. The Chinese delegation plans to invest Rs. 2 billion in the 1st phase and increase their investment to Rs. 20 billion in the 2nd phase, aiming to bring modern manufacturing techniques, innovative designs, and state-of-the-art technology to Pakistan’s footwear industry.

The chairman of PFMA, Mr. Mansoor Ehsan, welcomed the investment and highlighted its potential to create numerous job opportunities and contribute significantly to Pakistan’s overall economic development.

The investment signals a promising future for Pakistan’s footwear industry, aiming for increased exports and solidifying the country’s position in the international market. The collaborative efforts of PBIT, PFMA, and key figures have been crucial in making this vision a reality.