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 statement, he conveyed, “Vietnam recognizes Pakistan’s significant potential as it aims to broaden its bilateral relations.” He further mentioned, “Vietnam is eager to investigate the numerous opportunities present in intermediate raw materials and diverse product sectors.”

He revealed that Prime Minister Shehbaz Sharif has tasked them with the responsibility of reinforcing trade relations between Pakistan and Vietnam, emphasizing the increasing economic engagement between the two nations.

Kamal pointed out that Vietnam is striving to elevate its global trade volume from the current $800 billion to $1 trillion, a target that offers considerable prospects for Pakistan.

He also noted that Vietnam, a major global producer of plastic paper, has indicated interest in setting up manufacturing plants in Pakistan.

“They are also considering reciprocal investment opportunities—investing in as well as conducting trade with Pakistan.”

On Friday, Pakistan and Vietnam reached an agreement to commence negotiations for a Pakistan–Vietnam Preferential Trade Agreement (PTA) by the year 2025.

The discussions on trade took place during the 5th meeting of the Pakistan–Vietnam Joint Trade Committee (JTC) in Hanoi, marking the reactivation of this institutional platform after an eight-year interval.

The JTC assessed the existing bilateral trade landscape and defined future collaborative efforts in crucial areas such as trade facilitation, market accessibility, textiles, fisheries, Halal certification, civil aviation, healthcare services, and banking infrastructure.