Islamabad: In a significant development for Pakistan’s tyre industry, a Chinese-backed joint venture, Service Long March Tyres (Private) Limited, announced a $120 million investment expansion, aiming to boost the country’s export growth. This announcement was made during a meeting between Federal Minister for Commerce Jam Kamal Khan and Mr. Jin Yongsheng, Chairman of the company, along with his delegation.

According to Press Information Department, the company is on track to achieve $70 million in tyre exports by June 2026, with projections to exceed $100 million in the following financial year. This growth positions the company among Pakistan’s leading non-textile exporters. The meeting highlighted Pakistan’s significant progress in global tyre markets, with the country emerging as the fifth-largest exporter to the United States and the seventh-largest to Brazil.

Federal Minister Jam Kamal Khan emphasized the government’s commitment to supporting high-performing sectors with export potential and discussed the importance of a balanced tariff policy. The meeting underscored the role of the Pakistan-China industrial partnership in driving the tyre sector’s growth, with the company’s facility in Nooriabad noted for its modern and sustainable production capabilities.

Both parties agreed on the necessity of strengthening collaboration to support export-oriented growth and industrial expansion, with a focus on diversification and leveraging international partnerships to enhance competitiveness. The meeting concluded with a shared resolve to promote policy stability and investment, positioning Pakistan as a competitive manufacturing hub in emerging sectors.