Pakistan, Vietnam Eye $10 Billion Trade Mark After Crossing $1 Billion Mark
ISLAMABAD: Pakistan and Vietnam are enhancing their trade ties and want to achieve bilateral trade of $1 billion in the near future. Vietnam Ambassador to Pakistan Pham Anh Tuan informed that both nations have agreed to achieve a long-term trade target of $10 billion.
This objective was endorsed by both Prime Ministers and reflects a very firm commitment to establishing a lasting economic relationship. With a population of more than 350 million combined, both countries view huge opportunities to collaborate.
Vietnam currently has a volume of $800 billion worth of international trade and aims to achieve $1 trillion. This presents many new opportunities for Pakistani exporters.
In 2024, Pakistan-Vietnam trade amounted to $850 million, an increase from $750 million in 2023. Pakistan imported $522 million worth of goods from Vietnam and exported $328 million. Leading exports of Pakistan were:
Cereals: $117.26 million
Cotton: $65.64 million
Raw hides & leather: $26.59 million
Meat: $14.33 million
Pharmaceuticals: $10.67 million
Vietnam exported mostly to Pakistan:
Electrical and electronic goods: $186.67 million
Coffee, tea, and spices: $30.70 million
Man-made filaments: $20.63 million
Both nations are currently targeting major sectors such as textiles, agriculture, pharmaceuticals, information technology, and energy. Vietnam particularly wants to import greater quantities of rice, textiles, and leather products from Pakistan and encourages Pakistani investment in its technology and manufacturing industries.
The ambassador clarified that both nations have comparative advantages that can complement each other. Vietnam has comparative strength in electronics and machinery, whereas Pakistan has comparative strength in textiles, agriculture, and medicine.
The 5th Pakistan-Vietnam Joint Trade Committee meeting took place in Hanoi on July 11, 2025. Pakistan’s Commerce Minister Jam Kamal Khan and Vietnam’s Trade Minister Nguyen Hong Dien participated. They decided to initiate negotiations for a Preferential Trade Agreement (PTA) in 2025. This PTA would ease trade barriers and facilitate business between the two sides.
The session also touched upon future collaboration in trade promotion, textile production, fish farming (aquaculture), halal foodstuff, aviation, finance, health, skilled labor, and visa assistance.
The ambassador concluded by stating that Pakistan and Vietnam are completely dedicated to enhancing trade, investment, technology exchange, and industry ties, with frequent meetings and assistance from both the governments.
