Vietnam Keen to Boost Trade Ties with Pakistan

Commerce Minister Jam Kamal Khan stated on Saturday that Vietnam has expressed substantial interest in strengthening its trade relationship with Pakistan.

In a recorded message, he mentioned, “Vietnam recognizes Pakistan’s significant potential as it aims to broaden bilateral relations. Numerous prospects exist in raw materials and various product sectors that Vietnam is eager to delve into.”

He revealed that Prime Minister Shehbaz Sharif has directed efforts to bolster trade relations, underscoring the increasing economic interest shared by both nations.

Kamal highlighted that Vietnam is targeting an increase in its global trade volume from the current $800 billion to $1 trillion, a target that offers considerable opportunities for Pakistan.

He further noted that Vietnam, a major producer of plastic paper globally, is considering establishing production units in Pakistan.

“They are also examining dual investment possibilities—investing in as well as conducting trade with Pakistan.”

On Friday, both countries concurred to commence discussions on a Pakistan–Vietnam Preferential Trade Agreement (PTA) by the year 2025.

The subject of trade was addressed during the 5th session of the Pakistan–Vietnam Joint Trade Committee (JTC) in Hanoi, effectively reactivating this formal platform after an eight-year pause.

The JTC assessed the present status of trade and outlined future collaborative ventures in essential domains such as trade facilitation, market entry, textiles and fisheries, Halal certification, civil aviation, healthcare services, and banking infrastructure.