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

Lahore, June 15, 2024: 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. Mr Suilong Liu, Chairman AGSM visited Lahore alongwith 10 Chinese Delegates from 3 – 8 June 2024 .
PFMA host the Chinese delegation, arranged their B2B meetings with Pakistani footwear industry and government
officials.

The Chinese delegation visited Pakistan from June 3 to June 8, 2024 and witnessed various shoe-making factories
where they have had B2B meetings with the Pakistani counterparts. In April this year, a Pakistan delegation headwd
by Mansoor Ehsan Sheikh, Chairman PFMA also visited China and met with the leading shoe-makers there.

Mr. Suilong Liu, marking a new chapter in bilateral trade relations and potential economic growth. During his visit,
Mr. Liu had various meetings with Mr Mansoor Ehsan Sheikh and finally signed a MOU at the Punjab Board of
Investment and Trade (PBIT) jn the presence of Chaudhry Shafay Hussain, Minister of Trade & Investment Punjab,
the both Chairmen highlighted the shared enthusiasm for strengthening ties between the two countries’ footwear
sectors.

Minister for Trade & Investment, Mr. Shafay Hussain, praised PFMA for their pivotal role in attracting investment in
Pakistan. “The success of this visit exemplifies our commitment to fostering international trade relations and
attracting foreign investment,” said Mr. Hussain. He further acknowledged the role of PFMA and those of Mr. Ahmed
Fawad Farooq, whose dedicated efforts have been instrumental in attracting investors to Pakistan’s shoe industry.

Mr. Liu’s visit underscored the immense potential of Pakistan’s shoe market. “Pakistan represents a burgeoning
market for footwear with vast opportunities for growth and development,” stated Mr. Liu. He expressed confidence
in the country’s economic prospects and reiterated his commitment to investing substantially in Pakistan’s shoe
manufacturing sector. The Chinese delegates plan to invest in 1st phase Rs. 2 bilion, and will increase their
investment quantum to Rs. 20 billion in the 2nd phase, reflecting the long-term vision and belief in the Pakistani
market,” he added. The collaboration between TAGSM and PFMA is expected to bring state-of-the-art technology,
modern manufacturing techniques, innovative designs to Pakistan’s footwear industry and development of supply
chain materials market. This partnership aims not only to boost local production capabilities but also to enhance the
quality and competitiveness of Pakistani footwear in global markets.

Chairman of PFMA Mr. Mansoor Ehsan, welcomed the investment and highlighted its potential impact on the local
economy. “This investment will create numerous job opportunities and contribute to the overall economic
development of Pakistan. We look forward to a mutually beneficial partnership with TAGSM,” he remarked.
This landmark investment signals a promising future for Pakistan’s footwear industry, paving the way for increased
exports and solidifying the country’s position in the international market. The collaborative efforts of PBIT, PFMA
and key figures like Mr. Ahmed Fawad Farooq and Minister Shafay Hussain have been crucial in making this vision a
reality