Vietnam signals readiness for PTA talks with Pakistan

Vietnam has expressed readiness to begin negotiations with Pakistan on a Preferential Trade Agreement (PTA), a move expected to strengthen economic cooperation and boost bilateral trade, Vietnamese Ambassador to Pakistan Pham Anh Tuan announced on Saturday.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI), the envoy recalled that both countries agreed during the 5th Joint Trade Committee meeting in Hanoi in July 2025 to formally launch PTA talks this year. He said bilateral trade already touched $850 million in 2024 and was projected to cross $1 billion in 2025.

LCCI President Mian Abuzar Shad, however, cautioned that trade performance remained uneven. Quoting State Bank of Pakistan data, he said Pakistan’s exports to Vietnam fell from $357 million in 2023-24 to $227 million in 2024-25, while imports from Vietnam rose from $285 million to $374 million.

Despite this imbalance, Shad urged both sides to set an ambitious target of $5 billion in trade by improving market access. He noted Vietnam’s strong global trade footprint, with exports reaching $520 billion and imports $382 billion in 2024.

Pakistan’s key exports to Vietnam currently include corn, cotton fabrics, leather, and yarn, while imports are dominated by electronics, synthetic yarn, natural rubber, and tea. Shad pressed for diversification into seafood, processed meat, pharmaceuticals, fruits, vegetables, IT, and tourism.

LCCI Senior Vice President Khalid Usman added that Vietnam’s membership in ASEAN enhanced its strategic importance and suggested exploring the possibility of a future Free Trade Agreement (FTA) between the two countries.