Chinese and Pakistani businesses have agreed to form a joint venture with the goal of growing Pakistan’s leather sector. This deal was made possible by the Special Investment Facilitation Council (SIFC).
Pakistan’s leather industry, which was once regarded as the country’s second-biggest after textiles, has been steadily deteriorating for many years. The leather industry has been designated by the SIFC as a priority sector with substantial growth potential.
With 4 billion square feet of leather exported annually, China is the world’s largest leather exporter and contributes significant experience to this collaboration. Although there is a strong market for Pakistani leather goods worldwide, such as belts, purses, handbags, and suitcases, there aren’t enough concentrated manufacturing efforts.
It is anticipated that this partnership will boost Pakistan’s leather sector by creating chances for new ventures and the growth of current ones. It will also provide a venue for showcasing Pakistani leather products internationally.
