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ISLAMABAD, Oct 14 (APP): Pakistan and Vietnam on Tuesday officially signed and launched negotiations on a Preferential Trade Agreement (PTA) aimed at strengthening trade, investment and economic cooperation between the two countries.
The announcement and signing took place during a high-level bilateral meeting and the Pakistan–Vietnam Business Forum, held in Islamabad, co-chaired by Federal Minister for Commerce Jam Kamal Khan and Vietnam’s Minister of Industry and Trade Nguyen Hong Diên, according to a news release.
The Business Forum was attended by Federal Minister for Science and Technology Khalid Hussain Magsi, Federal Minister for Communications Abdul Aleem Khan, Federal Minister for Maritime Affairs Junaid Anwar Chaudhry, Federal Minister for National Food Security and Industries Rana Tanveer Hussain, and Nawabzada Mir Zarain Khan Magsi, Parliamentary Secretary for Culture and Tourism, along with senior officials, diplomats, and leading members of the business communities from both sides.
In his address, Commerce Minister Jam Kamal welcomed the Vietnamese Minister and delegation, terming their visit as a reflection of the shared resolve of both nations to transform their longstanding friendship into a robust and future-oriented economic partnership.
He noted that Pakistan and Vietnam enjoyed cordial relations built on mutual respect, political understanding, and people-to-people linkages, and that the Business Forum represented a major step forward in expanding commercial and investment cooperation.
Jam Kamal highlighted that although bilateral trade between Pakistan and Vietnam has shown steady progress, it has remained below its potential.
He identified promising areas for collaboration, including textiles, leather, pharmaceuticals, agriculture, food processing, fisheries, construction materials, and information technology, urging the business communities to take full advantage of these opportunities.
The most significant outcome of the event was the formal signing of the Joint Statement on the Launch of Pakistan–Vietnam PTA Negotiations by both ministers.
The signing marked a historic milestone in bilateral trade relations and set in motion a structured process to agree by the end of 2025.
The PTA would provide a comprehensive framework to enhance market access, diversify trade baskets, and remove tariff and non-tariff barriers.
It is expected to foster a balanced and mutually beneficial trading partnership, boosting competitiveness and export potential for both economies.
Nguyen Hong Diên welcomed the initiative, emphasizing that the PTA would diversify export markets, strengthen resilience against global economic challenges, and create new opportunities for sustainable and inclusive growth.
He underscored the importance of conducting negotiations transparently and ensuring balanced benefits for both countries.
Jam Kamal encouraged the private sectors of both nations to view each other as long-term collaborators rather than short-term trading partners, highlighting Pakistan’s strategic location, enabling business environment, and young, skilled workforce as key strengths.
He invited Vietnamese investors to explore opportunities in Pakistan’s Special Economic Zones (SEZs) for joint ventures, manufacturing partnerships, and re-exports.
Both sides also agreed to enhance connectivity and people-to-people linkages, including the establishment of direct flight routes between Pakistan and Vietnam to promote trade, tourism, and business travel.
They also discussed improved visa facilitation for citizens of both countries to encourage greater mobility of entrepreneurs and tourists.
Highlighting the shared cultural and spiritual heritage, Minister Jam Kamal spoke about the potential for religious and cultural tourism, particularly in relation to Pakistan’s Gandhara and Taxila civilizations, which are home to some of the most sacred Buddhist heritage sites in the world.
The Vietnamese Minister acknowledged Pakistan’s efforts in promoting Buddhist tourism and termed pilgrimages to these sites as journeys to the spiritual roots of the Buddhist faith.
Referring to Vietnam’s remarkable economic transformation, Jam Kamal stated that Pakistan sought to learn from Vietnam’s success in value-added manufacturing, industrial modernization, and trade facilitation, applying those lessons to expand its own export base.
He also invited Vietnamese enterprises to participate in the upcoming Food Ag Exhibition to be held in Karachi in November 2025, which would showcase Pakistan’s growing potential in agriculture, food processing, and allied industries.
Both ministers reaffirmed their commitment to deepen cooperation in science, technology, and innovation and expressed solidarity with the people affected by recent floods in Vietnam.
The event concluded with the signing ceremony of the Joint Statement, marking the official launch of PTA negotiations between Pakistan and Vietnam, and reaffirming the two nations’ shared determination to build a comprehensive, future-oriented, and sustainable economic partnership.
In his concluding remarks, Commerce Minister Jam Kamal said that the Pakistan–Vietnam Business Forum represented “the beginning of a new chapter in our bilateral relations, one defined by trust, mutual benefit, and shared prosperity.”