KARACHI: The Ambassador of Vietnam Nguyen Tien Phong has underscored the need to expedite work on Preferential Trade Agreement (PTA) between Pakistan and Vietnam which continues to lie on the table. “Talks were also going on for having Free Trade Agreement (FTA) between the two countries but we need to have PTA first. Of course, relevant meetings of joint trade committee and joint ministerial committee were held but then some of them were postponed due to COVID-19 which doesn’t mean we delay the process”, he added while exchanging views at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI).
First Secretary Vietnam’s Embassy Thai Duc Khai, Head of Vietnam Trade Office Ms. Nguyen Thi Diep Ha, President KCCI Muhammad Idrees, Senior Vice President Abdul Rehman Naqi, Vice President Qazi Zahid Hussain, Chairman of KCCI’s Diplomatic Missions & Embassies Liaison Sub Committee Zia ul Arfeen, Former President Majyd Aziz and KCCI Managing Committee Members attended the meeting.
While highlighting the trade and investment potential, Vietnamese Envoy stated that Pakistan and Vietnam were amazing countries with all four seasons, huge population, sufficient natural resources and young labor force along with immense opportunities available in many sectors including the travel and tourism sector which needs to be promoted. “We have the potential and we have the framework but we need to explore how trade and investment could be enhanced which have remained stagnant. Instead of just talking about potential, we need to be practical. The business associations of the two countries must come forward, identify problems, raise awareness and take practical steps for boosting the trade and investment ties”, he added.
“This is year, we will be celebrating 50 years of Pakistan-Vietnam diplomatic ties and we have big plans for that but in addition to celebrations, we have to be more effective and substantive partners to further promote and strengthen the existing trade and investment ties between the two countries”, he informed.
“As we are brothers and friends and we are constantly supporting each other in many aspects on several international forums yet the trade and investment was not yet meeting the potential that needs collective efforts”, said Vietnamese Envoy, “We need to understand each other, our traditions and the way of doing business in addition to building confidence between the business communities of the two countries with a view to create a mutually beneficial and a win-win situation.”
