Rice, Textiles Identified As Major Sectors For Cooperation Between Vietnam, Pakistan

Ambassador of Vietnam in Pakistan, Nguyen Tien Phong and FPCCI leadership emphasized on increased interaction at the government and private sector levels to boost the trade between Pakistan and Vietnam as there is big untapped potential in many sectors, especially in textile and rice

KARACHI, (UrduPoint / Pakistan Point News - 21st Jan, 2022 ) :Ambassador of Vietnam in Pakistan, Nguyen Tien Phong and FPCCI leadership emphasized on increased interaction at the government and private sector levels to boost the trade between Pakistan and Vietnam as there is big untapped potential in many sectors, especially in textile and rice.

In a meeting with office bearers of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Vietnamese envoy said the business communities of both the countries should realize that despite being big producers and competitors in rice and textiles, both the countries could beautifully complement each other for a win-win mechanism, said SBP release on Friday.

He also expressed his desire that preferential trade agreement between Pakistan and Vitnam should be signed through fast-tracking the initiative and should then be implemented effectively to multiply the trade volumes.

Tien Phong said that he would certainly relay the concerns and suggestions on visa regime back to their ministry's head office in Vietnam and wanted to increase the duration of business visas for Pakistani businessmen from six months to one year.

He maintained that the bilateral trade volume of $ 600 million per year was just not sufficient and it could be taken to Dollars 5 to 10 billion given the true potential for exponential growth over the upcoming years; for this he strongly emphasized on the visits of businessmen from Pakistan to Vietnam and vice versa.

FPCCI Vice President Hanif Lakhany said that he was pleasantly surprised to see the smart, energetic, committed and vibrant ambassador of Vietnam in Pakistan.

He also emphasized that Vietnam should consider investing in smartphone and computer chips, parts and accessories in Pakistan as Vietnam is one of the most advanced large-scale producers in the sector.

Suleman Chawla, SVP-elect of FPCCI for 2022, said that he would strive for strengthening and enriching the economic and commercial ties between the two countries from the platform of apex chamber.

It was Business-Business (B2B) relations that translate into Government-to-Government (G2G) relations by creating interdependence and shared prosperity.

FPCCI's former president Zakaria Usman identified meat products, fruits, vegetables, workforce export, culture and tourism, business visits and exhibitions, and investments and joint ventures as the potential areas of bilateral cooperation with Vietnam.