SIALKOT: In a bid to strengthen trade and relations between Vietnam and Pakistan, Vietnam Ambassador Nguyen Tien Phong addressed a crucial gathering of Sialkot exporters at the Sialkot Chamber of Commerce and Industry (SCCI).
During the meeting, President SCCI Abdul Ghafoor Malik, Senior Vice President Wahub Jahangir, and Sialkot business community members were in attendance.
Ambassador Phong emphasized that one of the major hindrances to the growth of trade and relations between the two countries was a lack of information. He urged Sialkot exporters to seize the opportunity to explore untapped international markets in Vietnam and thereby promote strengthened bilateral trade between the two nations.
He also pledged to make sincere efforts to enhance trade ties and provide technical assistance to facilitate the access of Pakistan’s business community to Vietnam’s international trade markets.
He emphasized the need for improved business-to-business contacts and trade delegations exchange to strengthen bilateral trade and economic relations.
Vietnam Ambassador Acknowledges Economic Challenges
Ambassador Phong acknowledged the economic challenges and revealed that in nine months of 2023, the bilateral trade volume had decreased by 30% to $546 million. Despite this, he highlighted Vietnam’s status as a fast-growing country in the world in terms of economic growth.
In his welcome address, President Abdul Ghafoor Malik stressed the enduring and cordial bond of friendship between Pakistan and Vietnam, celebrating 50 years of close bilateral relations. He noted that there was a wealth of untapped opportunities waiting to be explored to enhance economic ties. He suggested relaxing tariffs and duties on items of mutual interest, especially products made in Sialkot, as well as expediting the signing of the Pak-Vietnam Free Trade Agreement.
Malik commended Sialkot’s vibrant Small and Medium-sized Enterprises (SME) culture, known for its conducive atmosphere for business collaborations and joint ventures across diverse industries. The exporters of Sialkot have exhibited profound understanding of international trade regulations and requirements, resulting in an impressive annual export value exceeding $2.2 billion.
