LAHORE: The Vietnamese want to take bilateral trade with Pakistan from the current $700 million to $1 billion, as economic and trade relations between Pakistan and Vietnam can be further enhanced through market research, information sharing and highlighting opportunities in both countries.
Ambassador Extraordinary and Plenipotentiary of Vietnam Pham Hoang Kim expressed these views in a special meeting held at the regional office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), while Commercial Attache Pham Tri Trung also accompanied him, according to Federation’s spokesman here Sunday.
Pham Hoang Kim said that Vietnam Chamber of Commerce and Industry (VCCI) had already signed a Memorandum of Understanding (MoU) with the FPCCI on March 26, 2004 during President Tran Duc Luong’s visit to Pakistan.
He appreciated that Pakistan had established diplomatic relations with 185 countries, economic-trade relations with 224 countries and territories, strategic partnership with 15 countries, comprehensive/extensive strategic partnership with countries comprehensive partnership with 10 countries.
On this occasion, FPCCI Regional Chairman and Vice President Chaudhry Arfan Yousaf said that Vietnam was an important country for Pakistan in ASEAN and Pakistani business community gave great importance to its relationship with Vietnam.
He said Pakistan was a nation of great economic importance in South Asia situated at the transportation route connecting Pacific and Indian Ocean to Arabian Sea, close to petroleum region of Middle East and Central Asia, bridging EU and Middle East with South Asia and South East Asia, a potential market of 200 million customers.
He said that cotton fabrics, accessories for textile, garment and footwear industries, cotton yarns, pharmaceuticals products, surgical instruments were Pakistan’s major exports to Vietnam, and ‘We also trade in tea, synthetic and cotton fibres, pepper, iron and steel, fish fillet, rubber cashew nuts.’
Arfan said Pakistan should be seen as an emerging centre of trade for landlocked Central Asia, South Asia, fast-developing Western China and the Gulf – any trade among them had to take place through Pakistan. He said trade delegations between two countries should be exchanged frequently.
Commercial Attache Pham Tri Trung said that Vietnam had good expertise in producing hydropower and it could cooperate with Pakistan in this field. He said Pakistani pharmaceutical products, black pepper and many other products had good demand in the Vietnamese market.
FPCCI Vice President Waheed Ahmad highlighted the importance of joint trade fairs and single country exhibitions.
