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

ISLAMABAD (PEN) : At the Pakistan-China B2B Investment Conference on Leather and Footwear in Guangzhou, China, Pakistani and Chinese enterprises signed over 12 Memorandums of Understanding (MoUs) and one Letter of Intent (LoI), totaling $156 million. Sardar Muhammad, Acting Consul General of Pakistan in Guangzhou, opened the event by encouraging joint ventures and investment in Pakistan. With seven Pakistani and 46 Chinese companies attending, the conference facilitated over 150 business meetings, paving the way for these agreements. Rahim Hayat Qureshi, Secretary of Pakistan’s Board of Investment, outlined Pakistan’s favorable investment policies, while Suilong Liu of the China Leather Industry Association emphasized Pakistan’s appeal for investment, especially given China’s strong demand for raw leather and its position as a top exporter in the global leather and footwear market.