ISLAMABAD - Pakistan and Vietnam have agreed to initiate steps to enhance bilateral trade and economic cooperation in agriculture, information technology, education, health, investment, banking and industrial sectors.

The consensus for promoting trade and economic relations was developed during the 4th Session of Pakistan-Vietnam Joint Ministerial Commission (JM) which was held here on Wednesday. Economic Affairs Division (EAD) Secretary Arif Ahmed Khan led the Pakistani delegation while Vice Minister of Industry and Trade, Socialist Republic of Vietnam, Cao Quoc Hung was leading the Vietnamese delegation in talks. Two sides developed consensus for frequent interaction of trade bodies and exhibitions in order to enhance the volume of bilateral trade in coming years.

The Vietnamese government reiterated its un-flinched support for Pakistan's full dialogue partnership with ASEAN which would usher in new vistas of cooperation in the fields of trade and investment between the two countries. Pakistani proposed Vietnamese side to move forward on Preferential Trade Agreement during forthcoming meeting of Joint Trade Committee (JTC).

Both sides showed their resolve for enhanced cooperation in agriculture, science and technology, and information technology sectors through frequent interaction of Joint Working Groups (JWGs) that will yield productive results. The bilateral investment and establishment of banking channels would be catalyst in realising these objectives. Both sides also decided to continue cooperation with each other in health, education and industrial sectors. Vietnamese side was offered to invest in information technology, food processing and automobile sectors in Pakistan.