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ISLAMABAD ( WNAM REPORT ): Ambassador of Vietnam to Pakistan, H.E. Pham Anh Tuan, on Monday expressed optimism that Pakistan and Vietnam would soon sign a bilateral Preferential Trade Agreement (PTA), calling it a key milestone for trade liberalization and unlocking the untapped economic potential between the two countries.
Addressing a group of senior journalists in Islamabad, the Ambassador said negotiations on the proposed PTA have made significant progress with four rounds of talks already completed. He expressed confidence that the agreement would be finalized soon and formally signed by the leadership of both countries.Mr. Tuan said the PTA would provide a strong institutional framework to expand bilateral trade, encourage investment, and improve market access for businesses. It would also help reduce trade barriers and strengthen cooperation in key sectors including textiles, agriculture, fisheries, information technology, pharmaceuticals, food processing, and light manufacturing.Highlighting current trade trends, he noted that bilateral trade has already reached approximately US$ 900 million.
He expressed hope that with the PTA in place, trade volume would surpass the US$ 1 billion mark in the near future.The Ambassador emphasized that the economies of Pakistan and Vietnam are highly complementary and that a comprehensive trade agreement would help businesses capitalize on new opportunities and diversify trade.Stressing the role of the private sector, he said closer cooperation between business communities, chambers of commerce, and industry representatives is essential for sustainable growth. Business-to-business contacts, trade delegations, exhibitions, and investment forums, he added, would be pivotal in building new partnerships.The envoy further observed that the PTA would not only increase trade volumes but also promote joint ventures, technology transfer, and greater investment flows, contributing to stronger economic integration.
Mr. Tuan also underlined the importance of public awareness and media engagement in promoting trade, tourism, and cultural exchanges to further strengthen people-to-people ties between the two countries.Pakistan and Vietnam have witnessed steadily expanding diplomatic and economic relations in recent years. The proposed PTA is widely seen as an important step toward deepening economic collaboration and achieving the shared goal of taking bilateral trade beyond one billion dollars.
