Huge Potential to Expand Trade & Investments with Vietnam Irfan Iqbal Sheikh

Huge Potential to Expand Trade & Investments with Vietnam Irfan Iqbal Sheikh

Karachi (PR): Mr. Irfan Iqbal Sheikh, President FPCCI, has said that there is a huge, but untapped, potential to expand bilateral trade & investments exists between Pakistan and Vietnam. He reiterated that what Pakistan needs in international relations is cooperation with industrially-advanced nations; so that, the dream of rapid industrialization, import substitution and value-added exports can be materialized.

It is pertinent to note that a high-profile Pakistani trade delegation visited Hanoi, Vietnam; along with the President of Confederation of Asia-Pacific Chambers of Commerce & Industry (CACCI), Mr. Peter Mc Mullin – and, Pakistan was represented by Mr. Khurram Tariq Sayeed, Vice President, Confederation of Asia-Pacific Chambers of Commerce & Industry (CACCI) & a former VP FPCCI.

During the visit, the delegation called upon various government ministries of Vietnam; chambers of commerce; diplomats and private-sector entities to gain first-hand knowledge of the business environment and policies of Vietnam.

In order to study the Vietnamese market & gain access for country’s exports, Pakistani delegation held important meetings and discussions with Mr. Tran Quoc Phuong, Deputy Minister, Ministry of Planning & Investment; Mr. Tran Thanh Nam, Deputy Minister, Ministry of Agriculture & Rural Development; Mr. Pham Tan Cong, Chairman & President, Vietnam Chamber of Commerce & Industry; Mr. Vu Ba Phu, Director General, Vietnam Trade Promotion Agency of Ministry of Industry& Trade, H.E. Samina Mehtab, Ambassador Extraordinary & Plenipotentiary, Islamic Republic of Pakistan and H.E. Andrew Goledzinowski, Ambassador of Australia in Vietnam.

Mr. Khurram Tariq Sayeed has apprised the business, industry and trade community of Pakistan that his delegation was given briefings on the policies being implemented in Vietnam to promote trade. The delegation also visited various industrial parks and zones to explore various incentives being offered by the Vietnam Government to attract investment.

Furthermore, various proposals to increase trade & investment among the CACCI member countries in general and in particular bilateral trade between Vietnam and Pakistan came under discussion.

Mr. Khurram Tariq Sayeed emphasized that Pakistan is a vibrant country of 230 Million people; having a young and vibrant workforce with 64% of population under the age of 35; and that offers huge a potential for foreign investors. The delegation expressed keen interest in establishing joint ventures with Vietnam companies; especially in the pharmaceutical sector. The Vietnamese Government and business people expressed keen interest in expanding trade and investment between Vietnam and Pakistan.

Brig Iftikhar Opel, SI (M), Retd.
Secretary General