In order to boost exports, the Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has started researching export markets and started an export marketing training course. In this context, PAAPAM is also contributing funding to help achieve the objective. Usman Malik, Senior Vice Chairman of PAAPAM, said the project's goals are to give members the tools they need to adapt their operations and goods to foreign markets, while also providing training that would help them meet global standards and compete on worldwide markets.

He said that Pakistani original equipment manufacturers (OEMs) and their foreign partners, who sell worldwide brands of their cars, motorcycles, tractors, and buses in Pakistan, might assist in making Pakistan's inclusion into the global supply chain a reality. Most crucially, he continued, PAAPAM anticipates concrete cooperation from both the government and its OEM clients in order to accomplish this aspirational aim with the introduction of the new Auto Industry Development and Export Policy.

Creating high-quality and specialised car parts with no faults is the key to exporting auto parts, according to Syed Nabeel Hashmi, a former chairman and a major auto parts exporter. He urged the members to see the opportunity presented by the Pakistani rupee's severe fall as a silver lining. Auto components are still exportable since they are value-added products even though our local input prices have increased, he continued.

Syed Nabeel also pushed PAAPAM members to join the global supply chain for subcontracted goods, where they may create components and parts right away even if they have nothing to do with the auto sectors. He said that many Pakistani businesses have found success by diversifying in this way.

Major parts exporters have promised PAAPAM members their full assistance in fostering a mentality and culture that supports exports at member companies. Former chairman of PAAPAM Razzaq Ahmed stated that while they currently match international quality standards, they must intensify their efforts to increase their worldwide market share.

Credit: Independent News Pakistan-WealthPk