Karachi, April 23, 2015 (PPI-OT): The third Joint Commission on Trade concluded today in Hanoi between the Ministry of Commerce Pakistan and the Ministry of Industry and trade Vietnam. Led by Secretary Commerce, Mr Shehzad Arbab on the Pakistan side and Mr Do Thang HAi Deputy Minister of Industry and Trade, both sides deliberated on each country’s social and economic development, reviewed bilateral relations and set forth timelines for action plans to enhance regional trade.
The Commission noted with pride that trade between the two countries though limited in scale, has been growing rapidly over the last few years. From bilateral trade of $92m in 2007, trade figures in 2014 were at $420m, showing substantial increase and growth of business between the two countries.
Discussion was also made on exploring complementariness of trade between the two countries. Many items such as Home textile, polyester weave staple, Mandarins/kinoo and hosiery which Vietnam imports from the world are exported by Pakistan in large quantities and can be made accessible to the Vietnamese market.
The Vietnamese side showed interest in energy developments projects and in increased tourism between the two nations. It was also agreed that joint cooperation would be made in the seafood sector.
The Trade Commission also discussed greater exchange of business delegations and participation in each other’s trade fairs. The Secretary for Trade Development Authority, Rabiya Javeri Agha signed a Memorandum of Understanding and a joint action plan with her counterpart Vietrade. TDAP committed to send and receive relevant business delegations to Vietnam.
A Vietnam desk is to be made functional in TDAP for trade assistance and trade enquiries to Vietnam. TDAP will also take part in the 15th Vietnam International Hospital Medical and Pharma Expo in Ho Chi Min in August 2015 and the Vietnam Expo in March 2016. The meeting concluded with positive inputs for enhanced trade, cooperation, and exchange of information between both countries.
For more information, contact:
Mr. Farooque Memon
Information and Communication Division
Trade Development Authority of Pakistan (TDAP)
3rd Floor, Block A, Finance and Trade Centre,
P. O. Box No. 1293, Shahrah-e-Faisal,
Karachi 75200, Pakistan
Tel: +92-21-99206487-90, +92-21-99201526
Fax: +92-21-99206461, +92-21-99201526
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