Pakistan and Vietnam have officially launched negotiations on a Preferential Trade Agreement (PTA) to strengthen bilateral trade, investment, and economic cooperation between the two nations.
The announcement and signing took place during a high-level bilateral meeting and the Pakistan–Vietnam Business Forum in Islamabad, co-chaired by Federal Minister for Commerce Jam Kamal Khan and H.E. Nguyễn Hồng Diên, Vietnam’s Minister of Industry and Trade.
The forum was attended by Federal Ministers Khalid Hussain Magsi, Abdul Aleem Khan, Junaid Anwar Chaudhry, Rana Tanveer Hussain, and Nawabzada Mir Zarain Khan Magsi, along with senior officials, diplomats, and business leaders from both countries.
In his address, Jam Kamal Khan welcomed the Vietnamese delegation, describing their visit as a reflection of both nations’ resolve to transform longstanding ties into a strong economic partnership. He said Pakistan and Vietnam share cordial relations based on mutual respect and political understanding, and the Business Forum marks a significant step toward expanding commercial and investment cooperation.
The commerce minister noted that although trade between Pakistan and Vietnam has grown steadily, it still falls short of its potential. He highlighted promising areas for collaboration, including textiles, leather, pharmaceuticals, agriculture, food processing, fisheries, construction materials, and IT, encouraging businesses to seize these opportunities.
The event’s key outcome was the formal signing of the Joint Statement on the Launch of Pakistan–Vietnam PTA Negotiations by both ministers, marking a milestone in bilateral trade ties. The PTA aims to enhance market access, diversify exports, and remove tariff and non-tariff barriers, with a target to conclude talks by the end of 2025.
Vietnam’s Minister Nguyễn Hồng Diên said the PTA would diversify export markets, strengthen resilience against global challenges, and create new opportunities for sustainable growth. He emphasized transparency and balance in the negotiation process.
Jam Kamal Khan urged private sectors in both countries to view each other as long-term partners, citing Pakistan’s strategic location, business-friendly environment, and skilled workforce. He invited Vietnamese investors to explore opportunities in Special Economic Zones (SEZs) for joint ventures and manufacturing partnerships.
Both countries also agreed to improve connectivity and promote tourism by introducing direct flights and easing visa procedures for entrepreneurs and travelers. The ministers also discussed cooperation in religious and cultural tourism, particularly around Pakistan’s Gandhara and Taxila civilizations, home to sacred Buddhist heritage sites.