That was the statement of Vietnamese Ambassador to Pakistan Pham Anh Tuan on the signing of the declaration on the launch of negotiations for the Viet Nam-Pakistan Preferential Trade Agreement (VPPTA) within the framework of the working visit of the Vietnamese delegation led by Minister of Industry and Trade Nguyen Hong Dien to Pakistan from October 13 to 15.
Ambassador Pham Anh Tuan affirmed that over the past 53 years, since the establishment of diplomatic relations (November 8, 1972 - November 8, 2025), Viet Nam-Pakistan relations have developed steadily and comprehensively. Specifically, in recent years, bilateral economic and trade cooperation has achieved remarkable results. Bilateral trade turnover has increased from about 750 million USD in 2023 to nearly 850 million USD in 2024, with a growth rate of over 20%, while in the first six months of 2025, trade turnover reached 402 million USD, marking an increase of 28% over the same period last year. At the 8th Future Investment Initiative (FII) Conference in Saudi Arabia in October 2024, Prime Minister Pham Minh Chinh and Pakistani Prime Minister Shehbaz Sharif agreed to increase bilateral trade turnover to over 1 billion USD next year and aim for several billion USD in the long-term.
According to Ambassador Pham Anh Tuan, the working visit of Minister of Industry and Trade Nguyen Hong Dien and the Vietnamese delegation is an important milestone to strengthen economic and trade cooperation in the coming time. This is the first ministerial-level visit of Viet Nam to Pakistan in 20 years.
Economically, the visit has brought about specific and practical results. The Viet Nam-Pakistan Business Forum gathered more than 100 leading enterprises of the two countries, creating opportunities for direct connection between the business communities. The participation of five Pakistani ministers at the forum — including the Minister of Commerce, Minister of National Food Security, Minister of Information, Minister of Science and Technology, and Minister of Maritime Affairs — showed Pakistan's deep interest in promoting economic and trade relations with Viet Nam.
“Pakistan is a potential market with a population of more than 250 million people, most of whom are young (65% of the population is under 30 years old). Pakistan is a huge consumer market with growing demand for many products. When combined with Viet Nam’s population of more than 100 million people, we have a common market of nearly 360 million people, creating a significant economic scale. More important is the complementarity of the two economies. Viet Nam excels in electronics, machinery, and processing, while Pakistan specialises in textiles, agriculture, and pharmaceuticals. This provides a solid foundation for extensive cooperation,” Ambassador Pham Anh Tuan affirmed.
Emphasising that the launch of the Viet Nam-Pakistan Preferential Trade Agreement process will lay a solid foundation for a new phase of cooperation, Ambassador Pham Anh Tuan said that after signing, the agreement will provide a legal framework for preferential tariffs, streamline customs procedures, and enhance business competitiveness, thereby opening a new chapter in Viet Nam-Pakistan economic relations.
Ambassador Pham Anh Tuan said that the official signing of the declaration on the launch of negotiations on the Viet Nam-Pakistan Preferential Trade Agreement by Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Pakistani Minister of Commerce Jam Kamal Khan on October 14, 2025, is a breakthrough and a turning point in bilateral trade relations. This is the result of a thorough preparation process.
The launch of the Viet Nam-Pakistan Preferential Trade Agreement process will lay a solid foundation for a new phase of cooperation. Once signed, the agreement will provide a legal framework for preferential tariffs, streamline customs procedures, enhance business competitiveness, and open a new chapter in Viet Nam-Pakistan economic relations.
At the 5th Joint Trade Committee meeting in Ha Noi in July 2025, the two sides agreed in principle to move towards a preferential trade agreement (PTA). Viet Nam proactively sent the draft PTA to the Pakistani Ministry of Commerce on July 8, 2025, along with a proposed list of Vietnamese products that hope to be reduced tariffs on by Pakistan. On September 23, 2025, the Vietnamese Ministry of Industry and Trade and the Pakistani Ministry of Commerce, along with relevant agencies, held the first technical-level meeting to discuss key issues and prepare for the official launch of negotiations on the Viet Nam-Pakistan PTA.
The PTA is of great significance to the two countries. In terms of market access, the agreement will facilitate greater trade flow between the two countries, especially in areas of strength such as textiles (from Pakistan’s cotton and yarn to Viet Nam’s garment production), agricultural and aquatic products, Halal food, wooden furniture, construction materials, and pharmaceuticals. The agreement will establish a favourable legal framework to enhance market access, diversify the trade basket and reduce tariff and non-tariff barriers.
In addition, the PTA will bring many benefits and opportunities to businesses of the two countries such as: reducing import and export costs through tariff incentives — this will help the goods of the two countries become more competitive in each other’s markets; and creating transparency and predictability in the business environment — businesses will have a clear legal framework to plan long-term investment and business strategies. The Viet Nam-Pakistan PTA will not only facilitate trade in goods but also encourage businesses of the two countries to establish joint ventures, cooperate in production in Special Economic Zones, and expand investment.
Based on the activities organised within the framework of the working visit of Minister of Industry and Trade Nguyen Hong Dien and the Vietnamese delegation to Pakistan, Vietnamese Ambassador to Pakistan Pham Anh Tuan said that after the Viet Nam-Pakistan Business Forum and the launch of PTA negotiations, the Vietnamese Embassy in Pakistan, and relevant agencies of both countries, are building a comprehensive action roadmap to realise political commitments into concrete economic results.
First of all, the priority is given to promote negotiations and soon signing of the Viet Nam-Pakistan Preferential Trade Agreement. Accordingly, the Vietnamese Embassy is closely coordinating with the Ministry of Industry and Trade of Viet Nam and the Ministry of Commerce of Pakistan to accelerate the technical negotiation progress, making efforts to remove obstacles to achieve the goal of completing the agreement in 2025. Following, the embassy will coordinate with relevant agencies to regularly organise and support high-level visits and business delegations between the two countries. After the successful visit of Minister Nguyen Hong Dien, the embassy is working to organise visits by other ministries, sectors, and localities. In particular, the embassy is coordinating with the Viet Nam Chamber of Commerce and Industry (VCCI) and Pakistan Chambers of Commerce such as Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Karachi Chamber of Commerce & Industry (KCCI), Lahore Chamber of Commerce & Industry (LCCI) to organise specialised business delegations. Businesses will meet directly, visit each other's production facilities and industrial zones, and create specific trade contracts.
