KARACHI : Ambassador of Vietnam to Pakistan Pham Anh Tuan has said that evolving geopolitical and trade dynamics in the region have created new opportunities for Pakistan, particularly for Karachi, which possesses the potential to rapidly emerge as a regional trade and logistics hub owing to the strategic importance of Karachi Port.
Speaking during his visit to Karachi Chamber of Commerce & Industry (KCCI), Ambassador Pham Anh Tuan observed that disruptions in global supply chains due to ongoing tensions in the Middle East and the broader US-Israel-Iran conflict have compelled businesses worldwide to explore alternative trade and transshipment routes. In this scenario, Karachi Port could play a vital role in connecting regional markets, particularly the Middle East, through enhanced maritime and transshipment activities.
The meeting was also attended by Head of Vietnam Trade Mission in Karachi Nguyen Thi Diep Ha, President KCCI Muhammad Rehan Hanif, Senior Vice President KCCI Muhammad Raza, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Ahsan Arshad Sheikh and members of the KCCI Executive Committee.
Ambassador Pham Anh Tuan stated that this was his second visit to Karachi and also his second interaction at KCCI, which reflected the importance attached by the Vietnamese Embassy to strengthening engagement with Pakistan’s business community, particularly through KCCI which plays a pivotal role in promoting bilateral economic cooperation.
President Karachi Chamber of Commerce and Industry Rehan Hanif and Senior Vice President KCCI Muhammad Raza presenting crest to Ambassador of Vietnam to Pakistan Pham Anh Tuan during his visit to KCCI
Highlighting Vietnam’s economic progress, the Ambassador noted that Vietnam remains one of Asia’s fastest-growing economies. He said that Pakistan and Vietnam enjoy longstanding friendly relations encompassing political, economic and cultural cooperation. Referring to bilateral trade, he noted that trade volume between the two countries stood at approximately US$850 million, which, despite remaining stable over recent years, still falls significantly short of its actual potential.
The Ambassador further informed that both countries have initiated discussions on a Preferential Trade Agreement (PTA), which would substantially benefit the business communities of both sides. Under the proposed PTA framework, tariffs on more than 100 product lines are expected to be reduced to zero, thereby creating new avenues for bilateral trade expansion and industrial collaboration. He added that negotiations are progressing positively and both governments are actively pursuing the agreement.
Emphasizing the need for stronger business-to-business interaction, Ambassador Pham Anh Tuan invited KCCI to send a high-powered trade delegation to Vietnam to explore investment opportunities, joint ventures and commercial partnerships. “Let us work together to further strengthen engagement between the business communities of both countries and take Pakistan-Vietnam relations to new heights through collective and collaborative efforts,” he added.
Earlier, President KCCI Muhammad Rehan Hanif, while welcoming the Vietnamese delegation, stated that KCCI attaches immense importance to strengthening economic relations between Pakistan and Vietnam.
He informed that KCCI, being the country’s largest chamber with over 30,000 direct members and representation from seven industrial zones of Karachi, serves as the principal voice of Pakistan’s business and industrial community. Karachi contributes over 65 percent revenue to the national exchequer and accounts for more than 52 percent of Pakistan’s exports, making it the country’s foremost industrial and commercial hub.
Muhammad Rehan Hanif observed that Pakistan and Vietnam enjoy cordial bilateral relations founded on mutual respect, cooperation and shared aspirations for economic prosperity. However, despite encouraging progress in bilateral trade relations over the years, the existing trade volume remains far below the true potential available to both economies.
He noted that Vietnam has emerged as a remarkable success story in Asia through rapid industrialization, export-led growth, manufacturing excellence and economic reforms, while Pakistan offers tremendous opportunities in textiles, agriculture, pharmaceuticals, leather products, sports goods, surgical instruments, information technology, food processing and several other sectors.
President KCCI emphasized that enhanced interaction between the business communities of both countries could open new avenues for trade, investment, technology transfer, industrial collaboration and joint ventures. He appreciated the efforts of the Vietnam Trade Mission in facilitating closer business-to-business connectivity and reaffirmed KCCI’s commitment to promoting stronger international trade relations and exploring new global markets for Pakistani businesses.
