Pakistan – potential market for Vietnamese businesses

Pakistan has huge demands for commodities which are Vietnam’s strength like electrical and household goods, agricultural and forestry products and seafood, a Pakistani trade executive said at a recent workshop on the country’s business with Vietnam in Karachi city. 

Acting President of the Federation of Pakistan Chambers of Commerce & Industry Zarar Kaleem said the workshop, which was attended by representatives from 16 Vietnamese enterprises and nearly 100 Pakistani companies, offered a good chance for Pakistani businesses to expand their presence in Vietnam and study experience from the country’s successful enterprises. 

Secretary General of the Trade Development Authority of Pakistan Raybia Javeri Agha affirmed that Vietnam is the most important market for Pakistan in Southeast Asia, with bilateral trade recording an average increase of at least 20 percent in recent years. 

Pakistani companies are paying much attention to seeking more business opportunities in Vietnam, not only in traditional cooperation fields.

Meanwhile, Vietnamese Ambassador to Pakistan Nguyen Xuan Luu confirmed that the embassy is willing to provide information for and work with both countries’ business communities to turn opportunities into specific results. 

Vietnam is willing to act as a bridge for Pakistani businesses and products to find inroad into the ASEAN community, he said, hoping that Pakistan, in turn, will help Vietnam expand its ties with countries in central and southern Asian. 

He also suggested the two countries design more agreements to create political-economic motivation and a legal framework to support their businesses. 

At the event, a representative from the Vietnamese Ministry of Industry and Trade made clear both advantages and difficulties facing the two countries in promoting and expanding bilateral trade exchange, while proposing several measures to create more favourable conditions for businesses. 

Earlier, Ambassador Luu had a working session with Governor of Syndh province Syed Qim Ali Khan, and a meeting with the Chairperson of the Karachi Chamber of Commerce and Industry (KCCI), and chaired an exchange with leaders of more than 50 KCCI member companies. 

Last year, two-way trade between Vietnam and Pakistan reached more than 420 million USD, of which 250 million USD came from Vietnam’s exports. The turnover is expected to exceed 500 million USD this year. Pakistan currently runs seven investment projects totaling over 1.5 million USD in Vietnam.-VNA