Vietnam envoy visits FCCI, vows to expand bilateral trade

FAISALABAD: Vietnam has shown an impressive growth in the industrial, agriculture and services sector which is the outcome of its broad-based economic transformation strategy, said his Excellency Pham Anh Tuan, ambassador of Vietnam to Pakistan.

Addressing the business community in Faisalabad Chamber of Commerce & Industry (FCCI), he was deeply impressed with the entrepreneurial spirit, innovation and significant business achievements of Faisalabad.

He said that Pakistan is a big country with a lot of potential in the textile sector as statistically Faisalabad accounts for 30% of Pakistan’s textile production and 44% of its textile exports.

He mentioned that in 2024, Vietnam’s global exports surpassed $405.5bn while its imports were $380.8bn. He said that foreign direct investment in Vietnam during 2024 was estimated at $25.35bn. He further said that Vietnam has signed agreements with 34 countries including 9 comprehensive strategic partners, 11 strategic partners and 14 comprehensive partners in addition to signing 19 FTA with various countries.

About data and statistics of trade between Vietnam and Pakistan, he said that in 2023 bilateral trade between Pakistan and Vietnam was around $750million. “In 2024 total import and export turnover reached over $850million”, he said and added that exports reached $522million while imports were $328million.

Copyright Business Recorder, 2025