ISLAMABAD, Jul 31 (APP): Ambassador of Vietnam to Pakistan, Pham Anh Tuan, on Thursday said that Vietnam and Pakistan have agreed to consider the Preferential Trade Agreement (PTA) as a strategic step for creating a stable legal basis to expand market access, reduce tariffs.
After finalization of bilateral PTA, both sides are to facilitate bilateral trade and investment to move towards a comprehensive Free Trade Agreement (FTA) in the future, Ambassador of Vietnam to Pakistan, Pham Anh Tuan, told APP in an exclusive interview here.
The Vietnamese envoy said that the 5th Meeting of the Pakistan-Vietnam Joint Trade Committee (JTC) held in Hanoi on July 11, 2025, marked a pivotal achievement in our bilateral relations.
Vietnam officially submitted the draft of PTA on July 8, 2025, with a list of more than 80 key export items requesting Pakistan to consider reducing the tariff rate to 0-5 percent and Pakistan welcomed Vietnam’s initiative and pledged to soon study and respond to conduct negotiations in 2025, he said.
The Ambassador said the reactivation of the Joint Trade Committee after eight years represents a strategic reset in our bilateral economic relationship, and this institutional forum serves as the cornerstone for systematic cooperation and provides a structured mechanism for regular dialogue.
The results of the sessions include, 5th meeting of the Pakistan-Vietnam JTC the two sides acknowledged the results achieved in exchanging business delegations, organizing fairs and exhibitions, he said.
The envoy said that in the meeting, Vietnam required Pakistan to create more favorable conditions for Vietnamese enterprises to participate in trade promotion activities in Pakistan, and invited Pakistan to attend major events in Vietnam such as Saigontex, Hanoitex, SaigonFabric, and HanoiFabric.
In return, Pakistan also invited Vietnam to participate in TEXPO, HEMS and FoodAg.
He said that Vietnam highly appreciates Pakistan as the 14th largest fiber supplier to Vietnam, and wishes to expand the import of cotton, fabric and raw materials from Pakistan to serve the export textile and garment industry.
To promote Aquaculture cooperation, he said that although pangasius (Fish) fillets account for 98% of Vietnam’s seafood exports to Pakistan, the two sides agreed to consider removing barriers, limited logistics and competition from other countries.
Vietnam asked Pakistan to consider removing technical barriers, simplifying administrative procedures, and reducing import taxes on Vietnam’s key products such as pangasius, pepper and tea, he said.
On the halal trade development, he said the two sides will strengthen technical cooperation in the Halal field, especially in product inspection and certification and towards mutual recognition of Halal certification.
In addition, he said the two sides also discussed the potential for cooperation in other areas such as aviation, finance-banking, healthcare, human resource development and visa facilitation.
On the opportunities for bilateral trade and investment, he said the opportunities for enhanced bilateral trade and investment are multifaceted and substantial.
According to 2024 trade data, Pakistan’s key exports to Vietnam include cereals ($117.26 million), cotton ($65.64 million), raw hides and leather ($26.59 million), meat products ($14.33 million), and pharmaceutical products ($10.67 million). Vietnam’s main exports to Pakistan include electrical and electronic equipment ($186.67 million), coffee, tea and spices ($30.70 million), and man-made filaments ($20.63 million), he said.
The Vietnamese envoy said that both countries have identified priority sectors for cooperation, including textiles, agriculture, pharmaceuticals, information technology, and energy.
The envoy said that Vietnam has expressed particular interest in increasing imports of Pakistani rice, textiles, and leather products, while welcoming Pakistani investment in Vietnam’s manufacturing and technology sectors.
He said the complementary nature of our economies offers immense potential – Vietnam’s strength in electronics, machinery, and processing capabilities perfectly complements Pakistan’s expertise in textiles, agriculture, and pharmaceuticals.
Speaking on bilateral long-term economic and trade partnership, “Our long-term vision encompasses a comprehensive economic partnership that transcends traditional trade boundaries. And both Prime Ministers have agreed on an ambitious target of $10 billion in bilateral trade in the coming years, significantly higher than current levels.
The partnership envisions sustained growth in bilateral trade, enhanced investment flows, technology transfer, and collaborative industrial development, he said.
The Ambassador said that both countries are committed to creating institutional frameworks that support this long-term vision while addressing challenges proactively through regular high-level exchanges and ministerial visits.