KARACHI: Vietnam’s Ambassador to Pakistan Pham Anh Tuan has said evolving geopolitical and trade dynamics in the region have created new opportunities for Pakistan, particularly Karachi, which has the potential to emerge rapidly as a regional trade and logistics hub due to the strategic importance of Karachi Port.
Speaking during a visit to the Karachi Chamber of Commerce and Industry (KCCI), the ambassador said disruptions in global supply chains caused by tensions in the Middle East and the wider US-Israel-Iran conflict had prompted businesses worldwide to explore alternative trade and transshipment routes. In this context, Karachi Port could play a key role in connecting regional markets, particularly the Middle East, through enhanced maritime and transshipment activities.
Pham Anh Tuan said this was his second visit to Karachi and his second interaction at the KCCI, reflecting the importance the Vietnamese Embassy attaches to strengthening engagement with Pakistan’s business community through the chamber.
Highlighting Vietnam’s economic progress, he said the country remains one of Asia’s fastest-growing economies. Pakistan and Vietnam, he added, enjoy longstanding friendly relations encompassing political, economic and cultural cooperation.
Referring to bilateral trade, the ambassador said trade volume between the two countries stood at around $850 million, which, despite remaining stable in recent years, remained well below its potential.
He said both countries had initiated discussions on a preferential trade agreement (PTA), which would benefit businesses on both sides. Under the proposed framework, tariffs on more than 100 product lines are expected to be reduced to zero, creating new opportunities for trade expansion and industrial collaboration.
He added that negotiations were progressing positively and both governments were actively pursuing the agreement.Emphasising the need for stronger business-to-business engagement, the ambassador invited KCCI to send a 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 said.
Earlier, KCCI President Muhammad Rehan Hanif said the chamber attached great importance to strengthening economic ties between Pakistan and Vietnam.
He said the KCCI, with more than 30,000 direct members and representation from seven industrial zones in Karachi, serves as the principal voice of Pakistan’s business and industrial community.
Karachi contributes more than 65 per cent of the country’s revenue and accounts for over 52 per cent of Pakistan’s exports, making it the country’s leading industrial and commercial hub, he added.
Muhammad Rehan Hanif said Pakistan and Vietnam enjoy cordial bilateral relations based on mutual respect, cooperation and shared aspirations for economic prosperity. However, despite progress in trade relations over the years, bilateral trade volume remained below the true potential of both economies.
He said Vietnam had emerged as a major success story in Asia through rapid industrialisation, export-led growth and economic reforms, while Pakistan offered opportunities in textiles, agriculture, pharmaceuticals, leather products, sports goods, surgical instruments, information technology and food processing.
The KCCI president said stronger engagement between the business communities of both countries could open new avenues for trade, investment, technology transfer, industrial collaboration and joint ventures. He also appreciated the efforts of the Vietnam Trade Mission in promoting closer business connectivity and reaffirmed the KCCI’s commitment to expanding international trade relations and exploring new global markets for Pakistani businesses.
