Pakistan, Vietnam Move Closer to Preferential Trade Agreement
Pakistani and Vietnamese officials discuss bilateral trade and investment opportunities during a Vietnam visit.
Pakistan and Vietnam are moving closer to discussions on a Preferential Trade Agreement (PTA), according to Muhammad Farooq Afzal, Founder President of the Pakistan-Turkish Business Forum.
During a visit to Vietnam, Afzal met Vietnamese Deputy Minister for Industry and Trade Phan Thi Thang and Pakistan’s Ambassador to Vietnam H.E. Khudayar Marri.
The meetings took place during a gala dinner hosted by organisers of the Vietnam International Sourcing Expo.
Focus on Bilateral Trade
The discussions focused on expanding trade and investment between Pakistan and Vietnam.
Afzal said the Pakistani ambassador has been working to promote stronger commercial ties between the two countries.
According to Afzal, these efforts helped Vietnam agree to discuss a possible Preferential Trade Agreement with Pakistan.
The proposed agreement could reduce trade barriers and create new opportunities for businesses in both countries.
PTA Talks Gain Momentum
Vietnam’s Deputy Minister for Trade, Phan Thi Thang, also supported discussions on the proposed agreement, Afzal said.
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He expressed hope that the PTA could be signed in 2027.
However, the agreement remains subject to negotiations and approval by both sides.
If concluded, the deal could provide greater market access for Pakistani and Vietnamese businesses.
$5 Billion Trade Target
Afzal said the proposed agreement could help significantly increase bilateral trade.
He projected that trade between Pakistan and Vietnam could reach $5 billion within three years.
The target would require stronger business-to-business engagement and greater investment flows.
Moreover, improved market access could encourage companies from both countries to explore new sectors.
Business Ties Could Expand
The Vietnam visit also highlighted the role of business forums in strengthening economic diplomacy.
Afzal said continued engagement between government officials, diplomats and business leaders could help build stronger commercial relations.
The proposed PTA could become an important step in that process.
For now, both countries are expected to continue discussions as they work towards expanding bilateral trade and investment.
