Vietnam and Pakistan: Targeting to reach USD 10 billion trade turnover

On the morning of 30 October, during his visit and participation at the 8th Future Investment Initiative (FII) Summit in Saudi Arabia, P.M. Pham Minh Chinh met with Pakistani P.M. Shehbaz Sharif.

P.M. Pham Minh Chinh conveyed the invitation from General Secretary To Lam, President Luong Cuong, and National Assembly Chairman Tran Thanh Man to the leaders of Pakistan to visit Vietnam. He also extended a formal invitation to P.M. Shehbaz Sharif of Pakistan to visit Vietnam soon.

Appreciating the role and position of the South Asian nation, P.M. Pham Minh Chinh affirmed that Vietnam values its friendly and cooperative relationship with Pakistan and aspires to deepen this relationship, particularly in areas such as trade, tourism, and people-to-people exchanges.

P.M. Pham Minh Chinh acknowledged the limited level of economic and trade cooperation, which has not yet matched the strong political ties between the two nations.

He noted that with a combined population of 300 million people, there remains vast potential for trade cooperation between the two nations. He emphasized that both countries should further open their markets to each other and make concerted efforts to elevate their comprehensive relationship and cooperation.

P.M. suggested that both sides increase the organization of business, investment, and tourism forums to enhance mutual understanding and provide more information, laying the foundation for a deeper and more substantive relationship.

P.M. Shehbaz Sharif expressed condolences on the passing of former General Secretary Nguyen Phu Trong. He expressed admiration for Vietnam, viewing it as a shining example of the national liberation movement in the past and for its current efforts in building and developing the country.

Agreeing wholeheartedly with P.M. Pham Minh Chinh's views on the need to value time and intelligence and leverage the new thinking and vision of both countries' leaders, P.M. Shehbaz Sharif proposed that the two countries set a target of reaching USD 10 billion in bilateral trade in the near future. He also expressed a desire to welcome P.M. Pham Minh Chinh and Vietnamese leaders to Pakistan soon.

Sharing a vision and determination to elevate the bilateral relationship, P.M. Pham Minh Chinh and Shehbaz Sharif agreed to intensify exchanges, particularly high-level visits and exchanges between the two foreign ministers and other ministers responsible for specific areas, such as information and communications, science and technology, and agriculture. They aim to promote cooperation in emerging fields, such as digital transformation, green transition, and circular economy in the coming period.

On this occasion, two leaders also discussed strengthening cooperation between Vietnam and Pakistan at international and multilateral forums and making positive contributions to peace, cooperation, and development in the region and the world.