Pakistan, Vietnam set sights on $3b trade goal

Delegation agrees to deepen B2B cooperation across textile, food, and tourism sectors

LAHORE:

A high-level Vietnamese business delegation visited the Lahore Chamber of Commerce and Industry (LCCI) on Friday and met with LCCI President Faheem Ur Rehman Saigol to explore new trade and investment opportunities between the two countries, according to a statement.

The delegation was led by Director General of NPD Viet Nam Joint Stock Company, Tran Thi Luyen, and coordinated by Honorary Consul of Vietnam in Pakistan, Rizwan Fareed. LCCI Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, and members of the Executive Committee were also present.

Welcoming the visitors, LCCI President Saigol thanked Rizwan Fareed for facilitating the visit and Tran Thi Luyen for leading the delegation to Lahore. Saigol said Pakistan and Vietnam have maintained strong diplomatic relations since 1972 and have cooperated in trade and economic development for over five decades. He lauded Vietnam's impressive economic growth, noting that its GDP has surpassed $476 billion, with exports exceeding $519 billion and imports around $382 billion, according to the World Bank.

However, Saigol pointed out that trade between the two countries remains below potential. Pakistan's exports to Vietnam stood at $226.6 million, while imports were $374 million in 2024-25, according to the State Bank of Pakistan. He said both sides can easily increase bilateral trade to $3 billion by enhancing market access and promoting business-to-business (B2B) partnerships.

He highlighted opportunities in textiles, cotton yarn, dairy products, tea, food, agriculture, packaging, and tourism. The LCCI, he said, is fully committed to facilitating future collaborations between businesses from both countries.