Trade & investment: Pakistan-Vietnam PTA talks get underway

ISLAMABAD: Pakistan and Vietnam on Tuesday formally launched negotiations on a Preferential Trade Agreement (PTA) aimed at strengthening bilateral trade, investment and economic cooperation.

The announcement and signing took place during a high-level bilateral meeting and the Pakistan–Vietnam Business Forum, held in Islamabad. The forum was co-chaired by Pakistan’s Federal Minister for Commerce Jam Kamal Khan and Vietnam’s Minister of Industry and Trade NguyHgDiên.

The event was attended by a number of Pakistani federal ministers, including Khalid Hussain Magsi (Science and Technology), Abdul Aleem Khan (Communications), Junaid Anwar Chaudhry (Maritime Affairs), and Rana Tanveer Hussain (National Food Security and Industries), as well as Nawabzada Mir Zarain Khan Magsi, Parliamentary Secretary for Culture and Tourism. Senior officials, diplomats, and leading business figures from both countries were also present.

In his address, Minister Jam Kamal Khan warmly welcomed the Vietnamese delegation, calling their visit a reflection of the shared resolve to transform longstanding friendship into a robust, future-oriented economic partnership. He emphasized the cordial ties between Pakistan and Vietnam, rooted in mutual respect, political understanding, and strong people-to-people connections.

Kamal acknowledged that while bilateral trade has seen steady growth, it remains below its true potential. He highlighted key sectors for collaboration, including textiles, leather, pharmaceuticals, agriculture, food processing, fisheries, construction materials, and information technology, and urged businesses to seize these emerging opportunities.

The most significant outcome of the forum was the signing of a Joint Statement on the launch of PTA negotiations. The signing marks a historic milestone in Pakistan-Vietnam trade relations and initiates a structured process aimed at concluding the agreement by the end of 2025.

The PTA is expected to provide a comprehensive framework for enhancing market access, diversifying trade portfolios, and removing tariff and non-tariff barriers. It is envisioned to foster a balanced, mutually beneficial partnership that enhances competitiveness and export potential for both countries.

Vietnamese Minister welcomed the initiative, noting that the PTA would help diversify export markets, strengthen resilience against global economic challenges, and create opportunities for sustainable and inclusive growth. He stressed the importance of transparent negotiations that ensure balanced outcomes.

Copyright Business Recorder, 2025