Vietnam Businesses Attend Pakistan Expo 2015

 

Pakistan Expo is the largest trade fair in Pakistan, showcasing a variety of goods and services exported by Pakistan. The annual event has become a destination for businesses all over the world to seek goods and place orders for the next season. This was the first time a Vietnamese business delegation attended this fair and this was also the first business delegation to Pakistan since the two countries established diplomatic ties in 1972. Not only visiting the fair, surveying and seeking partners, the trip carried a special mission of opening and establishing direct cooperation ties for two countries’ businesses, thus bringing a new prospect of cooperation in all aspects, particularly bilateral trade.

 

During the six days with the expo, the delegation studied the market, potential and strengths of Pakistani partners as well as arranged meetings, exchanges and experience-sharing events with Pakistani partners to work out new cooperation prospects for both sides. Pakistani businesses were very keen on agriculture and fisheries while Vietnamese companies were interested in pharmaceuticals, garment - textile materials, leather-footwear, fabrics, wheat and animal feeds- the strengths of Pakistan. Some Vietnamese companies also reached cooperation agreements with Pakistani businesses, including Export and Import Joint Stock Company No. 1 and Nhat Nam Pharmaceuticals Company.

 

During the visit, with the coordination of Pakistani Ambassador to Vietnam Zaigham Uddin Azam and Head of Vietnam Commerce Division under the Vietnamese Embassy in Pakistan, Vu Viet Dung, the Vietnamese business delegation had a working visit with the Karachi Chamber of Commerce and Industry (KCCI) to exchange measures to promote bilateral economic and commercial ties to a new level. Delegation leader Duong Quoc Thai expressed the deep interest of Vietnamese companies in the Pakistan market and hoped the two sides would make every effort to bring the trade and investment relations to a new high to meet expectations and potentials of both nations. KCCI President Iftikhar Ahmed Vohra appreciated the attendance of the Vietnamese business delegation to the expo and invited them to attend My Karachi Fair in April, also held in Karachi City.

 

The delegation visited Vietnamese representative offices in Islamabad, the capital of Pakistan. Vietnamese Ambassador to Pakistan Nguyen Xuan Luu stressed the importance of the visit, adding that, despite political and security instability, Pakistan is a potential market with 200 million consumers. He also updated new investment and business policies in Pakistan to the delegation and believed that Vietnamese companies would gain an advantage if they come to this market sooner. He added that Vietnamese representative offices in Pakistan are actively working with relevant agencies to inform Pakistani businesses of the business environment in Vietnam, thus promoting their business and investment activities in Vietnam.

 

Vietnam and Pakistan established diplomatic ties since 1972 but trade cooperation is still well below potential of the two countries due to political and security instability in Pakistan. Bilateral trade turnover reached about US$500 million However, with the business environment in Pakistan getting better and the support of Pakistani Government, Vietnam - Pakistan cooperation ties will be further developed, especially in trade and investment fields.