Vietnam has confirmed its readiness to initiate negotiations on a Preferential Trade Agreement (PTA) with Pakistan, aiming to strengthen economic cooperation and increase bilateral trade volumes. Ambassador of Vietnam to Pakistan Pham Anh Tuan announced the development during his address at the Lahore Chamber of Commerce and Industry (LCCI) on Saturday. He said the two countries had agreed at the 5th Joint Trade Committee meeting held in Hanoi in July 2025 to commence PTA discussions within the year. According to Tuan, bilateral trade reached $850 million in 2024 and is projected to surpass $1 billion in 2025, reflecting the growing scope of economic engagement between the two nations.
During the event, LCCI President Mian Abuzar Shad highlighted the existing trade relationship between Pakistan and Vietnam while emphasizing the need to unlock untapped potential. Citing State Bank data, he noted that Pakistan’s exports to Vietnam fell from $357 million in 2023-24 to $227 million in 2024-25, whereas imports from Vietnam rose from $285 million to $374 million during the same period. Shad urged both governments and business communities to work towards enhancing market access and boosting trade to $5 billion over the coming years. He said Vietnam’s global trade performance illustrated the opportunities available for Pakistan, pointing out that the country’s exports reached $520 billion in 2024, while imports stood at $382 billion.
Shad further explained that Pakistan’s main exports to Vietnam currently include corn, cotton fabrics, leather, and yarn, while Vietnam sends electronics, synthetic yarn, natural rubber, and tea to Pakistan. He stressed the importance of diversifying trade portfolios to cover seafood, processed meat, pharmaceuticals, fruits, and vegetables. He also called for stronger engagement in IT services and tourism, noting that collaboration in these areas could benefit both countries by bringing innovation and investment to new sectors. These suggestions were aimed at creating a broader, more balanced trade relationship between the two markets.
LCCI Senior Vice President Khalid Usman added that Vietnam’s membership in ASEAN gives it strategic significance for Pakistan’s trade ambitions. He proposed that beyond the PTA negotiations, both countries could also examine the feasibility of a Free Trade Agreement to further reduce barriers and improve competitiveness. Usman emphasized that expanding into emerging sectors and leveraging Vietnam’s global networks would complement Pakistan’s trade objectives. This outlook was shared by the participants, who recognized that stronger institutional ties and diversified trade channels could support a long-term partnership benefiting both economies.
This announcement at LCCI reflects the intention of both governments to move beyond traditional trading patterns and explore new opportunities for cooperation. With ongoing discussions on a PTA, emphasis on market access, and attention to emerging industries such as IT and tourism, Vietnam and Pakistan are seeking to shape a broader and more resilient economic relationship capable of delivering mutual growth.
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