A memorandum of understanding on bilateral trade promotion betweenVietnam and Pakistan was signed at a working session of their commercialcooperation subcommittee held in Hanoi on April 22.
As stipulated, their trade agencies will step up coordinating majortrade promotion campaigns as well as exchange information and facilitatedomestic enterprises to take part in annual expositions organised ineach country.
At the meeting, Industry and TradeDeputy Minister Do Thang Hai suggested conducting additional jointstudies to reveal potential cooperative sectors, which he presumed to beenergy, garment & textiles, infrastructure, mechanical engineeringand chemical industry.
Pakistan is implementing anumber of energy projects funded by the Asian Development Bank and theWorld Bank, and Vietnam has experience in electricity infrastructureconstruction.
Hai proposed that Pakistan provideinformation and help the Commercial Sectionunder the Vietnam Embassy inPakistan to bid for the host country’s electricity development projects.
Pakistani Commerce Deputy Minister MuhammadShehzad Arbab stated that the newly inked pact will create opportunitiesfor the two’s economic affiliations to gain momentum.
Pakistan will provide favourable conditions for Vietnamese businesses operating in the Middle Eastern nation, he said.
According to the session’s reports, Vietnam and Pakistan raised theirtrade revenue to 427 million USD in 2014 from 242 million USD in 2010.Notably, the import of 35,000 tonnes of Vietnamese tea products worth81.2 million USD last year made Pakistan the top Vietnamese teaconsumer.-VNA
