Pakistan seeks PTA with Vietnam

Published October 6, 2017
ISLAMABAD: Federal Secretary for Commerce Younus Dagha and Deputy Minister of Industry and Trade Vietnam, Cao Quoc Hung on Thursday signing  the agreed minutes after the fourth meeting of the Joint Trade Commission.—APP
ISLAMABAD: Federal Secretary for Commerce Younus Dagha and Deputy Minister of Industry and Trade Vietnam, Cao Quoc Hung on Thursday signing the agreed minutes after the fourth meeting of the Joint Trade Commission.—APP

ISLAMABAD: Pakistan has offered Vietnam to initiate talks on a Preferential Trade Agreement (PTA) for boosting bilateral trade volume.

Secretary Commerce Younus Dagha extended this offer at the fourth meeting of the Joint Trade Commission (JTC), which concluded on Thursday.

The Vietnamese delegation was led by Deputy Minister of Industry and Trade Cao Quoc Hung.

Both the sides affirmed their determination to cooperate in sectors such as energy, IT and telecom and in textile, chemical, leather industries. The fifth meeting of the JTC will be held in Hanoi next year.

The two sides also agreed to cooperate in the auto and machinery, engine and industrial equipment, instruments and agricultural machinery, auto and motorbike, cutlery and surgical goods, pharmaceuticals, sports goods, gems and jewellery, food processing and infrastructure development.

It was also agreed to explore the possibilities of cooperation in the seafood sector such as setting up joint ventures in shrimp farming and seafood processing sector. Pakistan side expressed interest in export of oranges (kinno), mangoes and meat to Vietnam.

They acknowledged the importance of removal of trade barriers in the process of expanding trade ties. Mr Hung said that there is a need for further increase and diversification of the composition of bilateral trade in a balanced and mutually beneficial manner.

He said that both Pakistan and Vietnam need to increase bilateral trade cooperation through further exchange of business delegations, participation in trade fairs and exhibitions, and increased cooperation among their respective chambers of commerce and industry, trade promotion organisations and missions.

Published in Dawn, October 6th, 2017

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

A positive note
Updated 10 Feb, 2025

A positive note

With govt unable to press growth accelerator without upending fragile recovery, sufferings of low-middle-income households are unlikely to disappear soon.
Justice for all
10 Feb, 2025

Justice for all

ALONG with his domestic agenda, Donald Trump is busy ripping to shreds the post-World War II ‘rules-based...
Held back
10 Feb, 2025

Held back

IT is a crying shame how women are conspicuously absent from Pakistan’s civil services. Despite comprising half ...
Race against time
Updated 09 Feb, 2025

Race against time

While some bright spots emerged at Breathe Pakistan moot, we must streamline our climate governance.
Open door
09 Feb, 2025

Open door

THE door is still open for talks, National Assembly Speaker Ayaz Sadiq has reminded the PTI. What matters, however,...
Football suspension
09 Feb, 2025

Football suspension

ONCE again, Pakistan has been ousted from the global football family. FIFA recently suspended the Pakistan Football...