The plastic industry in Pakistan is a significant and rapidly growing sector that contributes to the country’s economy.
“Pakistan’s plastic import market is projected to surge to approximately $3.37 billion (25 billion RMB) by 2028, up from around $2.91 billion in 2023.
This growth represents an average annual increase of 2.4% for imports, said Sardar Muhammad, the Acting Consul General of Pakistan in Guangzhou.
He delivered the address at the recent Pakistan-China B2B Investment Conference, which focused on the plastics sector. The event attracted participation from over eight Pakistani companies and 44 Chinese companies, both online and in person.
He emphasized that Pakistan has significant potential for joint ventures and investment opportunities in the plastics sector. He encouraged businesses to take advantage of the opportunities available in Pakistan for enterprises looking to expand their investments.
Over the past few years, the industry has experienced a remarkable increase in exports, which grew by 42%, rising from $272 million in 2017 to $388 million in 2021, Sardar told the audience.
“Since 2008, the nation’s demand for plastic imports has consistently risen at an annual rate of 3.1%.
This means that if you establish your factory in Pakistan, you can have a sizeable share in this RMB 25 billion import space, said Sardar.
Eight memorandums of understanding have been signed between Chinese and Pakistani companies to enhance cooperation in this sector, Gwadar Pro reported on Monday.
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