ISLAMABAD: Vietnam’s Ambassador to Pakistan, Pham Anh Tuan, announced that bilateral trade between Pakistan and Vietnam is expected to soon reach $1 billion, laying the foundation for stronger economic ties. The two countries have set a long-term goal of $10 billion in trade, with both prime ministers agreeing on the target.
The ambassador highlighted that this goal aims to develop a comprehensive economic partnership, going beyond traditional trade. With a combined population of 350 million, both nations see significant potential for deeper economic integration. Vietnam’s global trade volume is currently $800 billion, with plans to reach $1 trillion, presenting substantial opportunities for Pakistani exporters.
Bilateral trade reached $850 million in 2024, a rise from $750 million in 2023. Pakistan’s imports from Vietnam amounted to $522 million, while exports were valued at $328 million. Key Pakistani exports to Vietnam include cereals ($117.26 million), cotton ($65.64 million), raw hides and leather ($26.59 million), meat products ($14.33 million), and pharmaceuticals ($10.67 million). Vietnam’s main exports to Pakistan are electrical and electronic equipment ($186.67 million), coffee, tea, and spices ($30.70 million), and man-made filaments ($20.63 million).
Both countries have identified priority sectors for cooperation, including textiles, agriculture, pharmaceuticals, information technology, and energy. Vietnam is particularly interested in importing more Pakistani rice, textiles, and leather, while also encouraging Pakistani investment in its manufacturing and tech sectors.
The ambassador noted the complementary nature of the two economies, with Vietnam excelling in electronics, machinery, and processing, while Pakistan specializes in textiles, agriculture, and pharmaceuticals. The 5th Meeting of the Pakistan-Vietnam Joint Trade Committee, held in Hanoi on July 11, 2025, marked a significant development in bilateral relations, with Pakistan’s Commerce Minister Jam Kamal Khan and Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien, in attendance.
During the meeting, both sides agreed to start negotiations on a Pakistan-Vietnam Preferential Trade Agreement (PTA) within 2025, which is expected to formalize trade ties and reduce barriers. The Joint Trade Committee, reactivated after eight years, will serve as a platform for ongoing dialogue and cooperation. Key areas of discussion included trade promotion, textile cooperation, aquaculture, and halal trade development, along with aviation, finance, healthcare, human resources, and visa facilitation.
The ambassador concluded by stating that both countries are committed to enhancing trade, investment, technology transfer, and industrial collaboration, supported by institutional frameworks and regular high-level exchanges.
