Islamabad, 1st November 2021 (TDI): Vietnam’s Ambassador to Pakistan, Nguyen Tien Phong addressed the Pakistan-ASEAN Business Forum in Islamabad. Ambassador expressed massive trade potential for Pakistan in ASEAN’s 3 trillion dollars economy.
Vietnam’s Ambassador stated that Vietnam is an important member of the ASEAN trade. Vietnam’s importance in the ASEAN can be beneficial for Pakistan. Vietnam will likely help Pakistan in seeking trade and investment opportunities.
Ambassador of Vietnam signified progress in talks on two-fold imperatives of the bilateral trade. He signified progress on talks related to the PTA in the fifth meeting of the “Vietnam-Pakistan Trade Committee Plan”. The fifth meeting also signified discussions on agreements related to mutual investments. Vietnam and Pakistan will likely discuss the proposed PTA in mid of November.
The signing of the Preferential Trade Agreement (PTA) will be beneficial for both Pakistan and Vietnam as it will help increase bilateral trade. Vietnam’s Ambassador said after the materialization of the PTA, the two countries will commence talks on Free Trade Agreement.
The signing of the PTA and future talks on the Free Trade Agreement would result in a surge in the trade volume. The cooperation in trade will likely progress to cooperation in other fields. The trade agreements between Pakistan and Vietnam will bring the two countries closer.