Vietnam, Pakistan target 500 million USD trade

This was delivered to the second session of the Vietnam-Pakistan Joint Trade Commission in Islamabad, Pakistan on Aug. 28-29.

The Vietnamese delegation to the session was led by Deputy Minister of Industry and Trade Le Duong Quang.

The two sides also proposed the signing of a cooperative agreement between the Trade Development Authority of Pakistan and Vietnam’s Trade Promotion Agency to help realise the target.

The two sides reviewed the implementation of agreements reached at the first session in Hanoi in October last year.

They deliberated on measures to enhance and promote trade between the two countries such as lifting trade barriers, increasing the exchange of information and creating conditions for their businesses to engage in trade and investment promotion programmes.

During the meeting, a Memorandum of Understanding was signed wherein Pakistan recognised Vietnam as a full market economy.

Pakistan called on Vietnam to create more favourable conditions for Pakistani businesses, especially the granting of visas.

On this occasion, Vietnam asked Pakistan to assist the country in preventing trade fraud.

Later, Deputy Minister Quang met with the Senior Commerce Minister and the Secretary of State for the Foreign Ministry of Pakistan, during which the Pakistani side expressed its hope to enhance the relationship with Vietnam.