Chinese TAGSM to Invest Billions in Pakistan's Shoe Industry

In a significant development for Pakistan's footwear industry, the Association of Guangdong Shoes Manufacturers (TAGSM) of China has expressed its intention to invest billions of rupees in Pakistan's shoe industry. The Chinese delegation, led by Chairman Suilong Liu, visited Lahore from June 3 to June 8, 2024, and engaged in productive meetings with Pakistani footwear industry representatives and government officials.

During the visit, various shoe-making factories were visited, and B2B meetings were held to explore collaboration opportunities. A memorandum of understanding (MOU) was signed between TAGSM and the Pakistan Footwear Manufacturers Association (PFMA) at the Punjab Board of Investment and Trade (PBIT), underscoring the commitment to strengthen ties between the two countries' footwear sectors.

The investment plans outlined by TAGSM are ambitious, with an initial investment of Rs2 billion in the first phase, set to increase to Rs20 billion in the second phase. This long-term vision reflects confidence in Pakistan's economic potential and the growing opportunities in the local shoe market.

The collaboration between TAGSM and PFMA is poised to bring advanced technology, modern manufacturing techniques, and innovative designs to Pakistan's footwear industry. This partnership aims to enhance local production capabilities, improve the quality of Pakistani footwear, and increase competitiveness in global markets.

Chairman of PFMA, Mansoor Ehsan, welcomed the investment as a significant boost to the local economy, emphasizing the job creation and overall economic development it will bring. The investment from TAGSM signals a promising future for Pakistan's footwear industry, with the potential for increased exports and a stronger position in international markets.

The collaboration between TAGSM and PFMA marks a new chapter in Pakistan's footwear industry, with the infusion of Chinese investment promising technological advancements and quality enhancements. This partnership not only signifies economic growth but also opens doors for Pakistan to establish a stronger foothold in the global footwear market, paving the way for increased exports and improved competitiveness.