Vietnam, Pakistan to sign free trade agreement soon: envoy

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SIALKOT: The Ambassador of Vietnam to Pakistan Pham Hong Kim on Monday said that Vietnam and Pakistan have been actively considering signing a ‘Free Trade Agreement’ (FTA) to boost bilateral trade between the two countries.

Addressing the members of Sialkot Chamber of Commerce and Industry (SCCI), he added that the two sides will soon start negotiations to sign the FTA.

The ambassador said that exchange of trade delegations could play an instrumental role in boosting the bilateral trade between Vietnam and Pakistan.

He was confident that both sides would welcome business and investment delegations and urged the business community of Sialkot to concentrate on exploring potential business opportunities in Vietnamese markets.

In his welcome address, the SCCI President Zahid Latif Malik said that in order to promote B2B linkages, Vietnam Embassy in Pakistan may facilitate the signing of a MoU (Memorandum of Understanding) between prominent Vietnam based chambers of Commerce and Industry and Sialkot Chamber for accelerating trade and commerce activities.

He said the total trade volume between the two countries is around $610 million in with the balance of trade in favour of Vietnam.

SCCI President underscored the need of collaboration between the SCCI and the Embassy of Vietnam, adding, ”we can enhance trade by facilitating frequent interaction of private sectors and promoting B2B linkages”.

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