Pakistan-Vietnam trade volume to cross US$1 billion soon: Nguyen Thi

Business Desk
KARACHI: Head of Vietnam Trade Mission Ms. Nguyen Thi Diep Ha has said that Pakistan and Vietnam have been maintaining good business and trade relations as the trade volume, which stood at US$54 million in 2005, improved to $794 million in 2021 and it will very soon cross the level of US$1 billion despite the fact that both countries were hit hard by unprecedented COVID-19 pandemic.
Exchange views on how to promote cooperation for the mutual benefits and promoting friendship between Vietnam and Pakistan at a meeting during her visit to Karachi Chamber of Commerce and Industry (KCCI), she said that a lot of potential and opportunities were available for improving Pakistan’s exports to Vietnam which was less than 1 percent of Vietnam’s total imports.
“Vietnam imports US$1.7 billion worth leather, of which Pakistan’s export share was just 1.5 percent. Similarly, Vietnam imports pharmaceutical products of around US$3.3 billion but Pakistan’s export share was 0.25 percent only while the stainless-steel surgical products worth US$638 million are also being imported by my country but Pakistan’s export of these items is hardly 0.18 percent”, she added.
President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Muhammad Haris Agar, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Zia ul Arfeen, Former President Majyd Aziz and KCCI Managing Committee Members were also present at the meeting.
In order to materialize the potential and opportunities between the two countries, Head of Vietnam Trade Mission asked Karachi Chamber to send a high-ranking business delegation to Vietnam so that they could meet Vietnamese government officials and also the leaders of business organizations to explore ways and means for promoting trade between Pakistan and Vietnam. “Secondly, KCCI must also look into the possibility of sending sellers’/ buyers’ delegation to Vietnam for participation or visit to trade fairs and exhibitions in Vietnam. Our Vietnam Trade Office in Karachi has also been regularly participating in My Karachi International Exhibition and wishes to continue to participate in this event in future as well”, she added while appreciating KCCI Office Bearers, Managing Committee Members and KCCI Members for the great valuable support and hospitality being extended to Vietnam Trade Office in Karachi since 2005.
Highlighting Vietnam’s economic performance and international trade, she stated that despite being hit hard by COVID-19 pandemic, GDP growth rate, although, for the first time in the last 30 years, went down by 2.58 percent in 2021 but Vietnam’s economy has remained stable and Vietnam’s international trade in 2021 stood at US$689 billion, of which goods worth nearly US$400 billion were exported from Vietnam while the imports stood at around US$300 billion.