FPCCI, Vietnam vow to promote bilateral trade

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ISLAMABAD (DNA): Federation Pakistan Chamber of Commerce and Industry (FPCCI) and Vietnam agreed for enhancing the bilateral trade and economic ties to further boost the trade and investment volume between both sides. Nguyen Tien Phong, Ambassador of the Socialist Republic of Vietnam to Pakistan called on President Irfan Iqbal Sheikh, Vice President FPCCI, Amin Ullah Baig, Chairman Coordination Mirza Abdul Rehman, Vice President SAARC CCI, Senator Haji Ghulam Ali, & others and visited the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Capital Office Islamabad. They emphasized 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. Qurban Ai,  Sajjad Sarwar former Vice Presidents FPCCI, Awais Satti, EC Member, Abid Khan group Leader United Group Islamabad Chamber, Almas Akhtar, Shabana Ajmal, Sabooi Hussain, Rahat jabeen, EC members Rawalpindi Women Chamber were also present on this occasion.

Irfan Iqbal Sheikh President of FPCCI has expressed his desire to elevate and expand bilateral trade relations between Pakistan and Vietnam; as there is untapped potential in a number of sectors and that can result in exponential growth in trade. Pakistani Black Papper, pharmaceutical products and lots of other Pakistani products have big market and demand as well in Vietnam. IT & Software, Agriculture, Education, Energy and Culture, are the sectors in which Pakistan and Vietnam have great opportunity for exchange of the trade. Economic and trade relations between Pakistan and Vietnam can be further enhanced through market research, information sharing  and highlighting opportunities in each other countries. Pakistan Vietnam is an important country for Pakistan in ASEAN. The Business Community of Pakistan gives great importance to its relation with Vietnam. Pakistan is a nation of great economic importance in South Asia. Vietnam Investors have to visit Pakistan and avail opportunity in CPEC project for long term trade relations between both the countries. 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.

Nguyen Tien Phong, Ambassador of the Socialist Republic of Vietnam to Pakistan said that both countries enjoy excellent relations but bilateral trade and investment was much lower than the actual potential for which the government and private sector must play its role. He acknowledged the role of FPCCI in promoting trade and industry and said that Pakistan is a huge consumer market and Vietnam’s business community can benefit from this opportunity. Already Vietnam has signed Free Trade Agreement with 38 countries for promoting trade liberalization and enhance trade volume. He said that China Pakistan Economic Corridor is project of huge potential and there is huge opportunity for investors to investment in mega project. Vietnam has good expertise in producing hydropower and it could cooperate with Pakistan in this field. He said Pakistani pharmaceutical products, black pepper and many other products have good demand in Vietnamese market, He said Pakistani pharmaceutical products, black pepper and many other products have good demand in Vietnamese market.

Amin Ullah Baig, Vice President, Mirza Abdul Rehman Chairman Coordination FPCCI, Senator Haji Ghulam Ali, Vice President SAARC CCI mentioned meat and meat products, fruits and vegetables, workforce export, culture and tourism, business visits and exhibitions, investments and joint ventures as the potential areas of bilateral cooperation with Vietnam. He said that Vietnam should open its doors to the Pakistani business and trade community; and, they will create the bridges and linkages on their own with their fellow businessmen in Vietnam and counterpart chambers as well. He mentioned meat and meat products, fruits and vegetables, workforce export, culture and tourism, business visits and exhibitions, investments and joint ventures as the potential areas of bilateral cooperation with Vietnam.

He said Cotton fabrics; accessories for textile, garment & Footwear industries, cotton yarns, Pharmaceuticals products, surgical instruments are Pakistan major exports to Vietnam while we also trade in Tea, Synthetic & Cotton fibers, pepper, iron & steel, fish fillet, rubber Cashew nuts. Pakistan should be seen as an emerging center of trade for landlocked Central Asia, South Asia, fast-developing Western China and the Gulf — any trade among them has to take place through Pakistan. He said trade delegations between two countries should be exchanged frequently.