LAHORE: A high-profile enterprise delegation of Vietnam would visit Pakistan shortly with a purpose to interact with Pakistani counterparts and discover enterprise alternatives, introduced Vietnam Ambassador Pham Hoang Kim.
Exchanging views with businessmen on the Lahore Chamber of Commerce and Business (LCCI), the envoy voiced hope that the journey would assist cement commerce and financial ties between the 2 nations.
He noticed a bilateral commerce potential of $1 billion between the 2 sides and underlined the necessity for joint efforts by the enterprise group to reinforce the prevailing commerce quantity.
He additionally referred to as for exchanging enterprise delegations to discover one another’s market.
Responding to a query, the ambassador mentioned promotion of tourism was important and each international locations may collaborate in that space.
Talking on the event, LCCI Appearing President Khawaja Shahzad Nasir identified that inside a span of 10 years, Vietnam emerged as an necessary trading companion of Pakistan.
Amongst main importing and exporting international locations for Pakistan, Vietnam occupied 27th and 18th locations respectively. “At current, the steadiness of commerce is in favour of Vietnam,” he mentioned.
LCCI Vice President Faheemur Rehman Saigal mentioned over the previous two years the bilateral commerce had dropped from $717 million to $637 million. It was attributable to 19% lower in imports from Vietnam, however Pakistan’s exports remained stagnant at $282 million.
“Pakistan’s exports to Vietnam embrace frozen fish, cotton cloth, engineering items and frozen meat whereas imports from Vietnam primarily embrace electrical gear, greens, tea and artifical filaments,” Saigal revealed.
Endorsing the necessity for normal trade of trade-related data between the 2 international locations, he voiced hope that it may very well be instrumental in enhancing the commerce quantity to $1 billion.