Vietnam envoy for expanding economic ties with Pakistan

Business Recorder

01-07-2025

KARACHI: Ambassador of the Socialist Republic of Vietnam, Pham Anh Tuan, has expressed Vietnam's keen interest in strengthening trade and economic relations with Pakistan, as bilateral trade between the two countries approaches the US$1 billion mark.
Speaking during his first official visit to the Karachi Chamber of Commerce & Industry (KCCI), the Ambassador said that the current trade volume stands at approximately US$850 million, and with concerted efforts, both sides are well positioned to achieve or surpass the US$1 billion target by the end of this year or next year.
The Vietnamese Ambassador, while highlighting the importance of strengthening institutional linkages and fostering deeper economic engagement, suggested that by enhancing collaboration between Vietnam Chamber and Karachi Chamber, facilitating timely exchange of trade-related information, encouraging the regular exchange of business delegations, and actively participating in each other's trade fairs and exhibitions, both countries can explore new opportunities for trade and investment while showcasing their products to wider audiences.
Ambassador Tuan emphasized that it is time to realize the full potential of Vietnam–Pakistan economic relations. He expressed confidence that with the cooperation of KCCI's leadership and the active participation of Karachi's vibrant business community, the two sides will be able to significantly enhance economic cooperation.
Referring to the commitment at the highest level, he mentioned that the Prime Ministers of both countries had met in Saudi Arabia last year and reaffirmed their shared desire to strengthen bilateral trade and commercial ties. Reflecting on his experience in Pakistan, Ambassador Tuan noted that although he assumed charge at the Embassy just ten months ago, it has been sufficient time to gain valuable insights into the country's people and business landscape. 'I am highly impressed by the dynamism of Pakistan's business community. During my tenure, I have had the opportunity to visit several chambers including those in Lahore, Faisalabad, Rawalpindi, Islamabad, and now Karachi', he said.
He further stated that Vietnam and Pakistan share a longstanding relationship dating back to 1972, and are currently celebrating 53 years of diplomatic relations. He recalled that President Pervez Musharraf was the first Pakistani head of state to visit Vietnam in 2003, which was followed by a state visit by Vietnam's president to Pakistan in 2004. Since then, relations have grown steadily, not only at the political level but also through robust people-to-people and business-to-business engagement.
Promoting closer people-to-people contact and fostering greater cooperation between the business communities of both countries remains a key priority for the Vietnamese Embassy, he said, adding that bilateral trade has shown consistent growth over the years, signalling untapped potential for further expansion.
Welcoming Vietnamese Ambassador, Senior Vice President KCCI, Zia ul Arfeen, called for intensified efforts to unlock the vast untapped potential in bilateral trade and economic cooperation between Pakistan and Vietnam. Referring to recent trade figures, he highlighted that in FY24, Pakistan's exports to Vietnam stood at approximately US$356 million, while imports from Vietnam were around US$285 million, resulting in a rare trade surplus for Pakistan. 'Despite this positive development, there remains substantial room for expanding our commercial ties in a structured and strategic manner', he added.
Arfeen proposed that Pakistan's local industries, particularly in textiles, apparel, agriculture, chemicals, and SMEs, can benefit significantly by learning from Vietnam's experience in industrial modernization, technological advancement, and efficient value chains. Joint ventures and technical partnerships can help boost local production, reduce import dependence, and improve global competitiveness.
He further noted that Pakistan and Vietnam can tap into high-potential sectors including IT, minerals, seafood, and tourism. 'Vietnam has established itself as a major seafood exporter, and Pakistan, with its immense but underutilized aquaculture potential, can pursue joint ventures to facilitate technology transfer and export enhancement', he said. Highlighting Pakistan's key export products such as cotton fabrics, home textiles, apparel, synthetic textiles, denim, rice, oilseeds, vegetables, fruits, chemicals, leather, and plastics, he stressed the need to expand market reach beyond traditional destinations.
'ASEAN is a $4 trillion market, but Pakistan's trade is mostly limited to Indonesia and Malaysia. Strengthening ties with Vietnam can be our gateway into the broader ASEAN region', he added.
The meeting was attended by Head of Vietnam Trade Mission Ms. Nguyen Thi Diep Ha, KCCI Vice President Faisal Khalil Ahmed, former President Majyd Aziz, and members of KCCI's Managing Committee.
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