Pakistan, Vietnam to finalise PTA soon
Vietnam Ambassador Pham Anh Tuan has said that Vietnam and Pakistan have agreed to consider striking a preferential trade agreement (PTA) as a strategic step for a stable legal basis to expand market access and reduce tariffs.
After finalisation of the PTA, both sides would facilitate bilateral trade and investment to move towards a comprehensive free trade agreement (FTA) in future, the ambassador told APP in an interview on Thursday.
He stressed that the fifth meeting of Pakistan-Vietnam Joint Trade Committee (JTC), held in Hanoi on July 11, 2025, marked a pivotal achievement for bilateral relations.
Vietnam officially submitted the draft of PTA on July 8, 2025, with a list of more than 80 key export items, requesting Pakistan to consider reducing tariffs to 0-5%. Pakistan has welcomed Vietnam's initiative and pledged to study and hold negotiations this year, he said.
The envoy said that reactivation of the JTC after eight years represents a strategic reset in bilateral relationship as the forum serves as a cornerstone for systematic cooperation and provides a structured mechanism for regular dialogue.
The results achieved in the JTC included exchange of business delegations and organisation of fairs and exhibitions.
The ambassador pointed out that in the meeting Vietnam asked Pakistan to create more favourable conditions for Vietnamese enterprises, which could participate in trade promotion activities in Pakistan, and invited Pakistan to attend major events in Vietnam such as Saigontex, Hanoitex, SaigonFabric and HanoiFabric. In return, Pakistan urged Vietnam to take part in exhibitions such as Texpo, HEMS and FoodAg.
Vietnam highly appreciates Pakistan as the 14th largest fibre supplier to Hanoi and wants to increase import of cotton, fabric and raw material to serve its textile and garment export industry.
To promote aquaculture cooperation, he said that although fish fillets accounted for 98% of Vietnam's seafood exports to Pakistan, the two sides agreed to remove barriers, address limited logistics and help in competition with other countries.
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