Pakistan, Vietnam Forge New Trade Partnership to Boost Bilateral Economic Growth

Report by “Safarti Tarjuman” International News Desk

HANOI — Pakistan and Vietnam have agreed to expand trade and investment cooperation, laying the groundwork for a long-term partnership aimed at driving growth across key sectors.

Pakistan’s Minister of Commerce, Jam Kamal Khan, met with Vietnam’s Minister of Industry and Trade, Nguyễn Hồng Diên, in Hanoi to discuss practical ways to deepen bilateral trade relations and unlock new economic opportunities for both nations.

The two ministers reaffirmed their commitment to advancing bilateral trade, emphasizing the importance of market access, investment facilitation, and trade diversification. They also underscored the need to promote joint ventures and increase business-to-business (B2B) linkages in high-potential industries.

Key sectors identified for collaboration include:

• Textiles and garments
• Agriculture and food processing
• Pharmaceuticals
• Information technology
• Energy production

Discussions centered on reducing trade barriers and working toward a Preferential Trade Agreement (PTA) to streamline commerce between the two countries. Such an agreement is expected to lower tariffs and simplify customs procedures, making it easier for businesses to trade across borders.

Minister Jam Kamal Khan highlighted Pakistan’s strategic location as a natural trade gateway to Central Asia and the Middle East, inviting Vietnam to leverage Pakistan’s infrastructure projects, such as the China-Pakistan Economic Corridor (CPEC).

Vietnam’s Minister, Nguyễn Hồng Diên, expressed interest in increasing imports of Pakistani rice, textiles, and leather goods. He also welcomed Pakistani investment in Vietnam’s expanding manufacturing and technology sectors, seeing it as a way to foster innovation and industrial growth.

The meeting concluded with both sides agreeing to work toward significantly increasing bilateral trade volumes and building a sustainable, long-term economic partnership. This renewed cooperation is viewed as a key element in strengthening economic diplomacy between South Asia and Southeast Asia.

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