Acting President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Khwaja Zarar Kaleem on Wednesday said that Pakistan and Vietnam were enjoying cordial relations. In his welcome address during a visit of Vietnam's trade delegation to FPCCI head office, he said both the countries established their relations officially in 1972.
"The volume of bilateral trade is $427 million during 2014, in which Pakistan exports to Vietnam are $261 million while imports from Vietnam are $146 million during the same period," he informed. He said that the two countries had also co-ordinated well in international font. Pakistan supported Vietnam's accession to WTO and later her candidacy for the UNSC nonpermanent seat in the term 2008-2009.
"There are still great potentials for Vietnam and Pakistan to further enhance the multifaceted co-operation, such as in the areas of trade and investment, IT and software industry, agriculture, culture and education etc. Pakistan is a business friendly destination and offered good opportunities to foreign investors," he added. The head of delegation, VU Viet Dung, on this occasion said that Pakistan was now one of the big trade partners of Vietnam. In 2014, the two-way trade volume reached at $427 million of which Viet Nam's exports recorded $282.6 million and imports volume $144.8 million. In the first six months of 2015, bilateral trade stood at $274.2 million, of which export value reached $199.7 million and import value was $74.5 million.
The key items of Vietnam exported to Pakistan include tea, handbags, iron and steel, paper products, rubber, hand made crafts, ceramics, chemicals, agro products (pepper, cinnamon, cashew nut), textile and garment, plastic material, fruits and vegetables, seafood, edible oil. "It should be specifically noted that Pakistan is the largest tea importer of Vietnam," he added.
Chief Executive (CE) Trade Development Authority of Pakistan (TDAP) S.M Munir said that law and order of the country was now much improved as economic and commercial activities are being carried out smoothly and efficiently. He said that number of international trade delegations visiting Pakistan, and they are showing keen interest in the local products. He also asserted that the federal government was seriously working to overcome energy and water shortage. Once these issues are resolved the trade volume would considerably increase with in one year.
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