KARACHI: A high-level delegation from Vietnam, led by the Deputy Director General of Africa and South West Asia Department of Vietnam’s Ministry of Trade and Industry, Hoang Duc Nhuan, visited the Karachi Chamber of Commerce and Industry (KCCI) to hold business-to-business meetings with their counterparts in Karachi.
Prior to the commencement of the formal meeting, an introductory session was held which was attended by Second Secretary, Head of Vietnam Trade Mission (Karachi), VU Viet Dzung, President KCCI Iftikhar Ahmed Vohra, Senior Vice President KCCI Muhammad Ibrahim Kasumbi, Chairman KCCI Sub-Committee for Diplomatic Affairs Naeem Sharif, Former Vice President KCCI Nasir Mehmood, KCCI Managing Committee members and a number of relevant businessmen and industrialists who were looking forward to explore business opportunities in Pakistan and Vietnam.
Speaking on the occasion, Deputy Director General of Africa and South West Asia Department of Vietnam’s Ministry of Trade and Industry, HOANG DUC NHUAN, on behalf of Vietnamese Ministry of Trade and Industry, expressed gratitude to KCCI for organizing the B2B session. He said that Pakistan has now become one of the big trade partners of Vietnam. In 2014, the two-way trade volume reached US$427 million, of which Vietnam exports stood at US$282.6 million and imports valued at US$144.8 million, he added.
Vietnamese Deputy DG also underscored the need to exchange delegations at various levels such as those of provincial authorities, commodities associations and Chambers of Commerce and Industry with a view to facilitate interaction between the business communities of the two countries.
He also advised the business community to benefit from the experience of Vietnamese companies in the various sectors of the economy including energy, textile & garments, chemicals, mechanics, foods processing and infrastructure development.
Earlier, President KCCI Iftikhar Ahmed Vohra, while expressing satisfaction over improved trade, said that this year, trade between the two countries continues to exhibit growing trend as the trade volume has risen sharply by almost 25 percent this year. However, he underscored the need to make more efforts to further enhance Pakistan-Vietnam trade as the existing trade volume does not depict the actual trade potential.
He said that Karachi, being the financial and industrial hub of Pakistan, offers lucrative trade and investment opportunities to Vietnamese business community as the city is blessed with abundant natural resources, exceptional talent, cheaper labor force and conducive business environment whereas the Government of Pakistan offers friendly and secure policy to foreign investors. “Some of the high-quality goods are being manufactured by the businessmen and industrialists of Karachi and the Vietnamese delegation can look into the possibility of either undertaking investment initiatives or joint ventures in various sectors of the economy”, he added.
He also invited the Vietnamese delegation members to participate in Karachi Chamber’s My Karachi – Oasis of Harmony Exhibition scheduled to be organized in the month of April next year which would surely provide a perfect opportunity to not only examine Pakistan’s retail businesses but also display and sell Vietnamese products and services, besides hold Business-to-Business meetings with counterparts in Karachi.
Senior Vice President KCCI, Muhammad Ibrahim Kasumbi, in his presentation, highlighted Pakistan’s potential and the role being played by Karachi city in the overall economic development of Pakistan. Identifying various potential sectors in which foreign delegates can invest or undertake joint ventures, SVP KCCI said that textiles, yarn, fabrics and made-ups, food processing and packaging, cosmetics and hygiene products, chemicals and pharmaceutical raw materials, dairy & livestock, rice, cotton, logistics and infrastructure development, warehousing and cold storage were some of the key areas which offer lucrative opportunities to foreign businessmen and Industrialists.
He was of the view that keeping in view the development of China Pakistan Economic Corridor (CPEC), Pakistan will surely become a gateway to Central Asian Republics (CARs). Referring to the massive Chinese investment in this particular project, he said that this project will create countless investment opportunities for those foreign investors who are looking forward to enhance their businesses in this part of the region.
