ISLAMABAD: Pakistani and Chinese business firms have signed an agreement to establish a joint venture to promote the leather industry in Pakistan.
The contract has been completed with the facilitation of SIFC.
The leather industry, which was considered the second largest industry after textiles, has been in gradual decline for some decades. Industry sector is among the priority sectors of SIFC in which leather industry can play a key role.
China is the leading exporter of leather in the world market producing 4 billion square feet of leather annually. Leather products made in Pakistan are in high demand in the global market, including handbags, purses, suitcases and belts etc. but their manufacturing is not being focused on.
Cooperation with China will also boost Pakistan’s leather industry and provide exposure to Pakistani leather products. The joint venture with China has opened up new business opportunities and expanded existing businesses.
