That statement was reaffirmed by Dr Doan Duy Khuong, VCCI Vice President, and Pakistani Deputy Minister of Finance Tariq Bajwa in a recent meeting at the headquarters of Vietnam Chamber of Commerce and Industry (VCCI). The event was held on the occasion of the Pakistan delegation’s visit to Vietnam to attend the Third Session of the Vietnam - Pakistan Intergovernmental Committee recently held in Hanoi.
Speaking at the meeting, Dr Doan Duy Khuong congratulated the delegation on the success of the Vietnam - Pakistan Intergovernmental Committee Third Session, co-chaired by Vietnamese Deputy Minister of Industry and Trade Do Thang Hai and Pakistani Deputy Minister of Finance Tariq Bajwa.
Mr Doan Duy Khuong affirmed Pakistan was one of Vietnam's important partners in South Asia. Cooperation between the two countries has developed strongly and rapidly in various areas, including economy, investment, information and communications.
According to statistics of the General Department of Vietnam Customs, trade turnover between the two countries rose from US$242 million in 2010 to US$427 million in 2014. In 2014, Vietnam's export to Pakistan reached US$282 million, while import was US$144 million. In the first ten months of 2015, total two-way trade turnover reached US$474.6 million, up 39.5 percent year on year. The yearly figure was expected to be more than US$500 million.
The main export items of Vietnam to Pakistan include: tea, fibre of various types, seafood, pepper, rubber; machinery, equipment and spare parts; textile products; tobacco raw materials; FECO alloys; and chemical products. Notably, Pakistan is currently the largest tea importer of Vietnam. In 2014, Vietnam exported more than 35,000 tonnes of tea, worth US$81.2 million, to this market. Vietnam imports from Pakistan commodities such as cotton, cotton yarn, chemicals and animal feed.
Sharing the same point of view, Mr Tariq Bajwa said Pakistan attached great importance to relations with Vietnam, especially in areas such as trade and investment. However, according to Mr Tariq Bajwa, the two countries still had a lot of untapped potential and opportunity for greater multifaceted cooperation to take full advantage of each country’s strengths.
Mr Tariq Bajwa called for the two sides to continue strengthening visits and delegation exchanges at all levels, simultaneously encouraging and supporting domestic enterprises in investment activities in each other’s markets, creating the momentum to push bilateral trade turnover past the US$500 million mark. Mr Tariq Bajwa also expressed the wish that Vietnam supported Pakistan in strengthening ties and cooperation with ASEAN.
On behalf of VCCI, Dr Doan Duy Khuong promised to create the most favourable conditions for Pakistani enterprises coming to explore opportunities for cooperation and investment in Vietnam. Dr Khuong also suggested the Embassy of Pakistan send teams to provinces of Vietnam to study and build up a more thorough understanding about the environment, thereby designing suitable investment and development directions.
With the consent of the Prime Minister, the Ministry of Industry and Trade held the third session of the Vietnam - Pakistan Intergovernmental Committee on December 9, 2015 in Hanoi.
After many sessions in which both sides worked together in a prompt and positive manner, in the spirit of being constructive and promoting mutual understanding, on the afternoon of December 9th, the two Chairmen signed the minutes of the Third Session.
The success of the Third Session of the Vietnam - Pakistan Intergovernmental Committee will be an important contribution to further consolidating and developing the two countries’ friendship and multifaceted cooperation.
Thu Ha
Vietnamese
