Vietnam was keen to further enhance its trade with Pakistan as both countries had great potential to promote bilateral trade and economic relations. This was said by Mr. Nguyen Quang Thuc, Ambassador of Vietnam while exchanging views with Zahid Maqbool, President, Islamabad Chamber of Commerce & Industry during his visit to ICCI.
He called upon Pakistani entrepreneurs to explore Vietnam for trade opportunities as many Pakistani manufactured goods and non-traditional items including motorcycles, petroleum, leather, surgical and pharmaceutical products had great potential in the Vietnamese markets.
The Ambassador said Vietnam was one of the most dynamic economies in Asia with strong economic fundamentals such as remarkable export growth ($62.7 billion exports in 2008), burgeoning foreign investment ($ 64 billion FDI in 2008), small business boom, growing savings & Vietnam’s entry into TWO etc. which offered wide opportunities to foreign investors and urged Pakistani investors to reap rich benefits by investing in Vietnam.
He said ICCI was the best platform to enhance contacts between the business circles of the two countries and Vietnam Embassy will act as a bridge as well as extend all possible cooperation and support for improving bilateral economic relations between Pakistan and Vietnam.
Speaking on the occasion, Zahid Maqbool, President, Islamabad Chamber of Commerce & Industry (ICCI) stressed that both countries should sign a Memorandum of Understanding to promote bilateral trade and investment. He said enhancing direct interaction between business communities of two countries was the best way to find out news opportunities for improving bilateral relations.
He said Vietnam should rationalize its tariff and non-tariff barriers to facilitate Pakistani businessmen in increasing trade & exports. He said Vietnam Embassy should increase its liaison with Pakistani Chambers of Commerce and share all necessary information on business opportunities so that Pakistani businessmen & investors could accelerate their efforts to take advantage of such opportunities.
Zahid Maqbool said Pakistan’s economy was on recovery path creating hopes for entrepreneurs and invited Vietnamese investors to explore potential sectors of Pakistani economy including infrastructure development, energy, agriculture, oil & gas, pharmaceutical, construction etc. which offered lucrative opportunities for joint ventures and investment.