ISLAMABAD: Pakistan and Vietnam have officially launched negotiations for a Preferential Trade Agreement (PTA), marking a key step toward strengthening economic cooperation, increasing bilateral trade, and deepening strategic ties between the two emerging Asian economies.
The talks were inaugurated at the Pakistan–Vietnam Business Forum, jointly chaired by Pakistan’s Commerce Minister Jam Kamal Khan and Vietnam’s Minister of Industry and Trade Nguyen Hong Diên. Senior officials from both countries, including ministers for Science and Technology, Maritime Affairs, National Food Security, and Communications, attended the high-level session alongside business delegations and diplomats.
During the forum, both sides signed a Joint Statement formally launching PTA negotiations, with a goal to finalize the agreement by the end of 2025. The pact aims to remove tariff and non-tariff barriers, broaden market access, diversify export products, and create a more balanced trade relationship between the two nations.
Officials highlighted that Vietnam’s growing manufacturing base and Pakistan’s agricultural and textile potential present major areas of complementarity. The PTA, once finalized, is expected to unlock new trade avenues for sectors such as textiles, technology, food processing, and maritime logistics.
The forum also explored enhanced connectivity and tourism, with proposals for establishing direct flight routes between Islamabad and Hanoi, simplifying visa procedures, and encouraging collaboration in science, technology, and innovation. Vietnam’s delegation also expressed solidarity with Pakistan over recent natural disasters, emphasizing mutual goodwill as a foundation for partnership.
Analysts believe the PTA could serve as a strategic bridge linking South Asia and Southeast Asia, positioning Pakistan as a viable trade gateway for Vietnam into Central Asian markets. However, experts caution that both sides must address challenges related to tariffs, standards, and customs procedures to ensure meaningful implementation.
With the target set for 2025, Islamabad and Hanoi appear determined to fast-track progress — a sign of growing political and economic alignment between the two nations.
This story has been reported by PakTribune. All rights reserved.