Vietnamese envoy stresses cooperation in rice, textile

Says two countries can create win-win mechanism

KARACHI:

As big producers and strong competitors in rice and textiles segments, Vietnam and Pakistan can complement each other to create a win-win mechanism, said Vietnamese Envoy Nguyen Tien Phong.

In a meeting with office bearers of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday, Phong stressed upon fast tracking the approval of preferential trade agreement (PTA) between the two nations. He also called for implementing it effectively to multiply the trade volumes.

“The bilateral trade volume of $600 million per year is insufficient and the two countries possess ample potential to enhance it to $10 billion in the coming years,” he said. He also underscored the need for exchange of business delegations from Islamabad to Hanoi and vice versa.                    

After listening to the concerns of the businessmen and their recommendations on the visa regime, the envoy promised to relay them back to his country.

Speaking on the occasion, FPCCI Vice President Hanif Lakhany stated that Vietnam should consider investing in smartphone and semiconductor sectors of Pakistan given that the nation excelled in these two areas

FPCCI Senior Vice President-elect 2022 Suleman Chawla said that he would make efforts to strengthen and enrich the economic and commercial ties between the two countries from the platform of the apex chamber.    Identifying sectors for collaboration between the two countries, former FPCCI president Zakaria Usman said that joint ventures could be established in the fields of meat products, fruits, vegetables, workforce export, culture and tourism.

Ambassador Nguyen Tien Phong and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) leadership jointly emphasised upon increased interaction at the government and private sector levels to boost trade.

Earlier, the businessmen suggested Vietnam to increase the duration of business visas for Pakistani businessmen from six months to one year.

Published in The Express Tribune, January 22^nd, 2022.

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