March 7, 2019 (MLN): Engr. Daroo Khan Achakzai, President FPCCI has released a report on “Economic Relations between Pakistan and Vietnam” which were prepared by Research and Policy Division of FPCCI.
The President FPCCI stated that Vietnam is one of the lucrative and unexplored market for Pakistan. There are huge potential available for enhancement of bilateral trade and economic relations as Vietnam is emerging economy with significant market size i.e. GDP US$ 220.4 billion and per capita income US$ 2,353.4.
The report indicated that the current bilateral trade volume is very low worth of US$ 633 million and Pakistan has the capacity to enhance exports of surgical instrument, food items, sea food, Information technology, leather goods and pharmaceutical items to Vietnam as there is huge demand of these products in Vietnam.
Engr. Daroo Khan Achakzai indicated that the report suggests signing of bilateral treaty for investment, agreement for mutual recognition of standards, enhancement of bilateral commercial activities, activation of Joint Business Council, exchange of regular delegations and participation in exhibitions of each other countries respectively for the enhancement of bilateral trade and economic relations.
Moreover, opening of trade offices of Vietnam in Karachi and Lahore and opening of direct banking channels and enhancement of air connectivity will also play a crucial in enhancing people to people contact with each other and subsequently expand bilateral relations, he added.
He urged strong and significant relations between business community and private sector of both countries for enhancement of business related commercial activities.
Moreover, he also underlined the activation of Pakistan Mission in Vietnam for marketing the investment project of Pakistan in Vietnam and creation of display center in Pakistan’ s embassy for marketing Pakistan’s products.
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