Pakistan, Vietnam Aim for Trade Agreement by 2025

Pakistan and Vietnam have reached a consensus to commence discussions on a Pakistan–Vietnam Preferential Trade Agreement (PTA) during 2025. Both nations have stressed the significance of bolstering institutional and business connections to foster sustained trade expansion.

The topic of commerce was addressed at the 5th session of the Pakistan–Vietnam Joint Trade Committee (JTC) in Hanoi, marking the reactivation of this formal platform after an eight-year gap.

The meeting was co-chaired by Nasir Hamid, Additional Secretary of Commerce, and Phan Thi Thang, Deputy Minister of Industry and Trade, Vietnam. The signing event for the agreed minutes was attended by Jam Kamal Khan, Federal Minister for Commerce of Pakistan, and Nguyen Hong Dien, Minister of Industry and Trade of Vietnam.

The Committee assessed the existing state of two-way commerce and defined upcoming collaboration in vital sectors, encompassing trade streamlining, market entry, textiles, fisheries, Halal accreditation, aviation, healthcare, and financial channels.

Commerce Minister Jam Kamal Khan also engaged in a separate discussion with Nguyen Hong Dien, the Vietnamese Minister of Industry and Trade, to reinforce economic partnership and investigate fresh prospects for commerce and investment between both countries.

The high-ranking assembly was conducted in a spirit of mutual collaboration, showcasing the deepening economic and diplomatic bonds between Pakistan and Vietnam.

Both parties restated their dedication to intensifying bilateral trade engagements and examined crucial domains such as trade diversification, market access, investment stimulation, and collaboration in industrial growth.

During the assembly, the two ministers underscored the requirement for stronger business-to-business relations, promotion of collaborative projects, and teamwork in fields like textiles, agriculture, pharmaceuticals, IT, and energy.

Deliberations also centered on alleviating trade obstacles and pursuing a Preferential Trade Agreement (PTA) to enable more seamless trade activities.

Minister Jam Kamal Khan emphasized Pakistan’s advantageous geographic position, offering Vietnam enhanced entry to Central Asian and Middle Eastern markets through regional interconnection schemes.

Nguyen Hong Dien voiced Vietnam’s intent to increase imports of Pakistani rice, textiles, and leather goods, while also encouraging Pakistani investment within Vietnam’s manufacturing and technology industries.

The assembly concluded with a joint aspiration to improve Pakistan-Vietnam bilateral commerce volume and stimulate enduring economic alliances for the shared advantage of both countries.