Pakistani and Chinese firms have reached an agreement to establish a joint venture aimed at developing Pakistan's leather industry. The Special Investment Facilitation Council (SIFC) facilitated this agreement.
Once considered the second-largest industry after textiles, Pakistan's leather sector has been gradually declining for decades. The SIFC has identified the leather industry as a priority sector with significant potential for growth.
China, the world's leading leather exporter producing 4 billion square feet annually, brings valuable expertise to this partnership. Pakistani leather products, including handbags, purses, suitcases, and belts, have high demand in global markets but lack focused manufacturing efforts.
This collaboration is expected to revitalize Pakistan's leather industry, providing opportunities for new businesses and expansion of existing ones. It will also offer a platform to showcase Pakistani leather products internationally.
