Islamabad: Pakistan and Vietnam have officially signed and launched negotiations on a Preferential Trade Agreement (PTA) aimed at strengthening bilateral trade, investment, and economic cooperation between the two countries.
The announcement and signing took place during a high-level bilateral meeting and the Pakistan-Vietnam Business Forum held in Islamabad, co-chaired by Federal Minister for Commerce Jam Kamal Khan and H.E. Nguy?n H?ng Diªn, Minister of Industry and Trade of Vietnam.
The Business Forum was attended by Federal Minister for Science and Technology Khalid Hussain Magsi, Federal Minister for Communications Abdul Aleem Khan, Federal Minister for Maritime Affairs Junaid Anwar Chaudhry, Federal Minister for National Food Security and Industries Rana Tanveer Hussain, and Nawabzada Mir Zarain Khan Magsi, Parliamentary Secretary for Culture and Tourism, along with senior officials, diplomats, and leading members of the business communities from both sides.
In his address, Federal Minister for Commerce Jam Kamal Khan welcomed the Vietnamese delegation, describing their visit as a reflection of the shared resolve to transform the longstanding friendship into a robust and future-oriented economic partnership. He noted that Pakistan and Vietnam enjoy cordial relations built on mutual respect and political understanding, and that the Business Forum represents a major step forward in expanding commercial and investment cooperation.
Minister Jam Kamal Khan emphasized that although bilateral trade between Pakistan and Vietnam has shown steady progress, it remains below its potential. He identified promising areas for collaboration including textiles, leather, pharmaceuticals, agriculture, food processing, fisheries, construction materials, and information technology, urging both business communities to seize the available opportunities.
The most significant outcome of the event was the formal signing of the Joint Statement on the Launch of Pakistan-Vietnam PTA Negotiations by both ministers. The signing marks a historic milestone in bilateral trade relations and sets in motion a structured process to conclude the agreement by the end of 2025.
The PTA will provide a comprehensive framework to enhance market access, diversify trade baskets, and remove tariff and non-tariff barriers - fostering a balanced and mutually beneficial trading partnership, boosting competitiveness and export potential for both economies.
H.E. Nguy?n H?ng Diªn welcomed the initiative, emphasizing that the PTA would diversify export markets, strengthen resilience against global economic challenges, and create new opportunities for sustainable and inclusive growth.
Minister Jam Kamal Khan encouraged the private sectors of both nations to view each other as long-term collaborators rather than short-term trading partners, highlighting Pakistan's strategic location, enabling business environment, and young, skilled workforce as key advantages. He invited Vietnamese investors to explore opportunities in Pakistan's Special Economic Zones (SEZs) for joint ventures, manufacturing, and re-exports.
Both sides also agreed to enhance connectivity and people-to-people linkages, including the establishment of direct flight routes between Pakistan and Vietnam to promote trade, tourism, and business travel. They also discussed improved visa facilitation for entrepreneurs and tourists to encourage greater mobility.
Highlighting the shared cultural and spiritual heritage, Minister Jam Kamal Khan spoke about the potential for religious and cultural tourism, particularly relating to Pakistan's Gandhara and Taxila civilizations, home to some of the most sacred Buddhist heritage sites in the world. The Vietnamese Minister praised Pakistan's efforts in promoting Buddhist tourism, terming pilgrimages to these sites as journeys to the spiritual roots of the Buddhist faith.
Referring to Vietnam's remarkable economic transformation, Minister Jam Kamal Khan stated that Pakistan seeks to learn from Vietnam's success in value-added manufacturing, industrial modernization, and trade facilitation, applying those lessons to expand its own export base. He also invited Vietnamese enterprises to participate in the FoodAg Exhibition 2025 to be held in Karachi in November, which will showcase Pakistan's potential in agriculture and food processing.
Both ministers reaffirmed their commitment to deepen cooperation in science, technology, and innovation, and expressed solidarity with the people affected by recent floods in Vietnam.
The event concluded with the signing ceremony of the Joint Statement, marking the official launch of PTA negotiations between Pakistan and Vietnam, reaffirming both nations' shared determination to build a comprehensive, future-oriented, and sustainable economic partnership.
Minister Jam Kamal Khan concluded his remarks stating that the Pakistan-Vietnam Business Forum represents 'the beginning of a new chapter in our bilateral relations - one defined by trust, mutual benefit, and shared prosperity.'