Islamabad: Ambassador of Vietnam to Pakistan Nguyen Tien Phong on Thursday revealed the hope that the yearly trade volume in between Pakistan and Vietnam is most likely to reach $1 billion by the end of 2023.
He stated that the existing yearly trade volume in between Pakistan and Vietnam is $800 million, which can be quickly increased to $1 billion by the end of next year by establishing it in more prospective sectors. The Ambassador of Vietnam stated this while resolving the roundtable on ‘Vietnam-Pakistan financial and trade ties to understand future potential customers’ hosted by the Centre of Pakistan and International Relations (COPAIR).
The COPAIR is Islamabad-based think tank where media guy, television Anchors, and workplace bearers of Federation Pakistan Chamber of Commerce and Market (FPCCI) went to the occasion held here.
The ambassador stated that the 2 nations have comprehensive financial and industrial cooperation in the fabric and yawn, leather, surgical, material and tourist sectors.
He stated that the import of Vietnam’s materials is 34.45 billion, where Pakistan has larger opportunities and Pakistan’s exports to Vietnam in this sector are really less.
Likewise, Vietnam’s surgical devices imports are $479 million, where Pakistan’s existence is minimal. Nguyen Tien Phong stated that there are large opportunities for trade cooperation in between Vietnam and Pakistan in tourist. He stated that Vietnam was importing lots of items consisting of cotton yarn, medications, surgical instruments, leather items, materials, chemicals, meat and mutton items, family pet food, fertilizers and Pakistan must improve exports of these items to Vietnam to take the bilateral trade to over $1 billion. He stated that Pakistan has a skilled labor force in IT and software application field and Vietnam has great need for these specialists, so Pakistan can increase the export of its IT workforce to Vietnam.
Since November 30 of this year 2022, 2.85 worldwide travelers went to Vietnam in the last eleven months, which is increasing every year. In domestic tourist, 83.6 million Vietnamese individuals went to various locations in their nation. The Vietnamese envoy stated that Vietnam’s tourist has a yearly capacity of $20 billion, which is increasing every year. Nguyen Tien Phong stated that Pakistan is a nation with a big population whose impact extends not just to South Asia however likewise to the Pacific.
He stated that the historic shared trust and shared self-confidence and cooperation in both the nations is of utmost value in shared relations. He stated that shared home, local connection and justice are the standard elements of Vietnam’s diplomacy. He stated that in the coming year, it is possible for the 2 nations to exchange the presidents or prominent sees, which has a likelihood of more fortifying of shared relations.
