Pak auto spare parts producers make it big at Automechanika ’16

Executives of Pakistani company Modern Diesel and Saudi company Isar Trading International Est. shake hands after the singing of agreement for the supply of auto parts worth $3 million for three years Four Pakistani companies producing auto spare parts, oil & air filter and engines parts participated at the Automechanika 2016 Exhibition focusing on automobile industry and its allied services that opened in Jeddah on Jan. 26, 2016. Parts and accessories of cars, trucks, buses and other commercial and domestic vehicles are on display. Commercial Counsellor Abdul Wahab Soomro visited the exhibition and Pakistani companies. He emphasized the need for increased participation of Pakistani companies in Saudi exhibition. Saudi automotive, vehicle and its allied industry has huge imports worth $22 billion. Aftermarket and auto parts import value was approximately $1.9 billion in 2014. Pakistan has big potential in this sector having more than 278 top-tier producers out of 1,200 units of the $1.5 billion industry. On the occasion, a deal between a Pakistani company Modern Diesel was signed with a Saudi company Isar Trading International Est. for the supply of auto parts worth of $3 million for three years. — SG