Vietnam’s Ambassador to Pakistan, Pham Anh Tuan, during his visit to the Karachi Chamber of Commerce and Industry (KCCI), announced that Vietnam and Pakistan intend to increase bilateral trade to one billion dollars in the near future. Currently, trade stands at approximately $855 million, and both countries are confident of reaching the one billion dollar target by the end of this year or next year.
Ambassador Tuan advocated for strengthening institutional linkages and economic partnerships, especially between the Vietnamese and Karachi chambers. He proposed sharing trade data, regular exchange of business delegations, and participation in trade fairs to explore new trade and investment opportunities. He emphasized the untapped potential of Vietnam-Pakistan economic relations and expressed hope for enhanced cooperation. He referenced a meeting between the two countries’ prime ministers in Saudi Arabia last year, reaffirming their commitment to boosting trade.
Reflecting on his ten-month stay in Pakistan, Ambassador Tuan commended the dynamism of the Pakistani business sector. He highlighted the long-standing relationship between the two countries, celebrating 53 years of diplomatic ties. He recalled presidential visits from both sides, emphasizing the strengthening of political, public, and business connections. Promoting bilateral relations and business cooperation is a key priority for the Vietnamese Embassy.
KCCI Senior Vice President Zia ul Arfeen welcomed the Ambassador and emphasized the importance of increasing bilateral trade. He noted Pakistan’s trade surplus with Vietnam in FY24, with exports at $356 million and imports at $285 million. However, he emphasized the potential for substantial growth through strategic cooperation.
Arfeen suggested that Pakistani industries, including textiles, agriculture, chemicals, and Small and Medium Enterprises (SMEs), could learn from Vietnam’s industrial and technological advancements. Joint ventures could boost local production, reduce reliance on imports, and enhance global competitiveness. He also proposed exploring cooperation in information technology, minerals, seafood, and tourism, particularly leveraging joint ventures in seafood to enhance the utilization of Pakistan’s aquatic resources.