Vietnam, Pakistan mulling ‘Free Trade Agreement’

Vietnam and Pakistan were mulling signing ‘Free Trade Agreement’ to boost bilateral trade between the two nations, Ambassador of Vietnam to Pakistan Pham Hong Kim has said.

Mr Kim was addressing the members of Sialkot Chamber of Commerce and Industry (SCCI). The two countries will soon start negotiations for signing the agreement, a report in Radio Pakistan quoted the Ambassador as saying.

Exchange of trade delegations could play an instrumental role in boosting the bilateral trade between them.

He was confident that both the sides would welcome business and investment delegations and urged business community of Sialkot to concentrate on exploring potential business opportunities of Vietnam markets.

In his welcome address, SCCI president Zahid Latif Malik said that in order to promote B2B linkages, Vietnam Embassy in Pakistan may facilitate signing of MoU (Memorandum of Understanding between prominent Vietnam based chambers of Commerce and Industry and Sialkot Chamber for accelerating trade and commerce activities.

He said the total trade volume between the two nations is around US 610 (M) in dollars with the balance of trade in favour of Vietnam.

The SCCI president underscored the need of collaborating efforts by SCCI and Embassy of Vietnam, adding, “We can enhance trade by facilitating frequent interaction of private sectors and promoting B2B linkages”.

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