Opportunities: Vietnamese envoy keen on promoting bilateral trade

FPCCI president says both countries can cooperate in multiple fields

ISLAMABAD: Vietnam’s Ambassador to Pakistan Nguyen Xuan Luu has said that many Vietnamese companies were interested in trade and investment in various sectors particularly in Karachi.

He said that the provincial capital is a very important city and has huge economic potential which has attracted many businessmen.

Nguyen Xuan Luu said this while talking to Federation of Pakistan Chamber of Commerce and Industry (FPCCI) President Abdul Rauf Alam during his visit to the FPCCI Capital House.

He said that both countries enjoy excellent relations but bilateral trade and investment was much lower than the actual potential for which the government and private sector must play its role.

He acknowledged the role of FPCCI in promoting trade and industry and said that Pakistan is a huge consumer market and Vietnam’s business community can benefit from this opportunity.

Many Vietnamese companies had shown interest to invest and provide their expertise in various economic sectors of Pakistan especially in agriculture and seafood, he added.

The ambassador said that Vietnam can also import different items mainly textile, leather and other products for which liberal visa policy, exchange of information, interaction and exchange of delegations is imperative.

At the occasion, Alam said that Pakistan and Vietnam have signed a trade promotion agreement in the third meeting of Joint Trade Commission (JTC) held in August 2015 but it has not helped a lot.

The next session of the Joint Trade Commission scheduled in Islamabad shortly should come up with meaningful ways and means to boost trade after reviewing scope of trade, he added.

Alam added that the Vietnam Trade Promotion Agency (Vietrade) and Trade Development Authority of Pakistan (TDAP) should improve their efforts.

He said that many Vietnamese products find their way to Pakistan through Dubai, which indicates presence of some barriers that must be tackled.

The president of the Apex chamber said that both countries can cooperate in the fields of engineering, information technology, food processing, textile products, garments, pharmaceuticals, security and military equipment.

Published in The Express Tribune, December 18^th, 2016.

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