ISLAMABAD/HANOI, July 12: Pakistan and Vietnam have agreed to launch negotiations for a Preferential Trade Agreement (PTA) within 2025, following the revival of high-level economic dialogue between the two countries.
The decision was reached during the 5th Meeting of the Pakistan–Vietnam Joint Trade Committee (JTC), held in Hanoi on Friday after an eight-year hiatus. The session was co-chaired by Nasir Hamid, Additional Secretary of Commerce for Pakistan, and Phan Thi Thang, Vietnam’s Deputy Minister of Industry and Trade.
The minutes of the meeting were signed in the presence of Pakistan’s Commerce Minister Jam Kamal Khan and Vietnam’s Minister of Industry and Trade Nguyen Hong Dien.
Both countries reviewed the current state of bilateral trade and agreed to strengthen cooperation in several key areas, including trade facilitation, market access, Halal certification, textiles, fisheries, civil aviation, healthcare, and banking.
A PTA—under which both sides would reduce tariffs on selected goods—was a central focus of the discussions, aimed at smoothing trade flows and addressing market access issues. Officials also explored ways to reduce trade barriers and improve institutional and business linkages to unlock untapped trade potential.
On the sidelines of the JTC meeting, Commerce Minister Jam Kamal Khan held a bilateral meeting with his Vietnamese counterpart Nguyen Hong Dien, during which both sides emphasised the need to promote joint ventures and increase business-to-business linkages across sectors such as agriculture, pharmaceuticals, energy, and information technology.
Pakistan highlighted its geographic position as a gateway to Central Asia and the Middle East, offering Vietnam the possibility of broader market access through regional connectivity initiatives. In turn, Vietnam expressed interest in increasing imports of Pakistani rice, textiles, and leather goods, while welcoming Pakistani investment in its manufacturing and technology sectors.
Both countries concluded the dialogue with a shared commitment to elevate bilateral trade and economic cooperation in the coming years.
