Pakistan, Vietnam near trade deal worth $1bn goal

July 13, 2026 (MLN): Pakistan and Vietnam are expected to sign a bilateral Preferential Trade Agreement (PTA) in the near future, a move aimed at strengthening trade liberalization and expanding economic cooperation between the two countries.

Speaking to APP on Monday during a dinner hosted in honor of senior journalists, Vietnam's Ambassador to Pakistan, Pham Anh Tuan, said negotiations on the proposed agreement had progressed significantly, with four rounds of talks already completed.

He expressed confidence that the PTA would soon be finalized and signed by the leadership of both countries.

The ambassador said the agreement would establish a stronger framework for bilateral trade, investment, and market access while helping reduce trade barriers and promoting commercial cooperation across various sectors.

He noted that trade between Pakistan and Vietnam has reached around $900m, showing the growing economic relationship between the two countries. He expressed optimism that bilateral trade would exceed $1bn once the PTA comes into effect.

Tuan said both countries have substantial untapped trade and investment potential, with complementary strengths in textiles, agriculture, fisheries, information technology, pharmaceuticals, food processing, and light manufacturing.

He added that the agreement would enable businesses to explore these opportunities and diversify bilateral trade.

The ambassador emphasized the importance of stronger collaboration between the private sectors, chambers of commerce, and industry representatives of both countries to support sustainable growth in bilateral trade.

He said business delegations, trade exhibitions, investment forums, and direct business-to-business engagement would help create new commercial partnerships and strengthen mutual confidence.

According to the envoy, the proposed PTA would also encourage joint ventures, technology transfer, and increased investment flows, contributing to deeper economic integration and creating new opportunities for exporters and entrepreneurs in both countries.

Tuan also stressed the need to enhance public awareness of Pakistan-Vietnam relations through stronger people-to-people contacts and greater understanding of each other's economic strengths.

He highlighted the media's role in promoting bilateral relations, saying constructive coverage can help raise awareness of trade, tourism, cultural exchanges, and investment opportunities while supporting closer economic cooperation and friendship between the two countries.

Pakistan and Vietnam have continued to expand diplomatic and economic ties in recent years, with both governments committed to increasing trade, investment, and regional connectivity.

The proposed PTA is expected to play a key role in advancing bilateral economic cooperation and supporting the goal of raising trade beyond the $1bn mark.

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