It has been recently reported that the demand for four-wheel vehicles will go up from 0.25 million to 0.5 million in Pakistan within the next 12 years. This has been revealed in a report issued by the Small and Medium Enterprises Development Authority (SMEDA).
As per the report, the China-Pakistan Economic Corridor (CPEC) will offer countless opportunities to the auto sector. This will ultimately benefit the transport warehousing and freight forwarding services by expanding the logistics and auto sector. The report further stated that auto sector is one of the fastest growing sectors in the country and Japan is focusing on collaboration to meet the augmenting demand of four-wheel vehicles in the country.
Moreover, the report also highlighted that with the changing trend of consumerism in Pakistan, demand for agro-processing products is also growing. Moreover, the report identified that the requirements for processed and packaged semi-cooked food items, fruits and vegetables has also increased.
CEO of SMEDA, Sher Ayub, has assured to take initiatives to make the local SMEs aware of the new joint venture opportunities developing due to the CPEC.