LAHORE   -    Ambassador of Vietnam Pham Hoang Kim has said that a high profile business delegation would visit Pakistan soon to have interaction with Pakistani counterparts and to explore business opportunities.

He was talking to LCCI acting President Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal at the Lahore Chamber of Commerce & Industry. Former Senior Vice President Amjad Ali Jawa, former Vice President Syed Mahmood Ghaznavi and EC member Ch Aurangzeb Aslam were also present.

The Ambassador said that visit of the delegation would cement the trade and economic ties between the two countries. He said that both countries have the potential to boost their mutual trade to $ 1 billion. He said that there was a need of joint efforts of the business community to boost the trade volume.

He said that exchange of business delegations was must to explore each other’s market. He said that there should be interaction between chambers of commerce of both the countries. He said that promotion of tourism sector was the main target.

Khawaja Shahzad Nasir said that during the span of 10 years, Vietnam has become important trading partner of Pakistan. Among the major importing and exporting countries for Pakistan, Vietnam comes at 27th and 18th places.

He said that presently the balance of trade was in favour of Vietnam.

Faheem-ur-Rehman Saigal said that the bilateral trade has come down from 717 million dollars to 637 million during last two years. It was due to 19% decrease in imports from Vietnam.

However, Pakistan’s exports remained unchanged to 282 million. He said that Pakistan exports to Vietnam comprise frozen fish, cotton fabric, engineering and frozen meat etc., whereas the imports from Vietnam are electrical equipment, vegetables, tea and man-made filaments etc.

He said that regular exchange of trade related information between two countries could prove vital in enhancing trade volume to 1 billion.

He said that both the countries should also focus on exchange of trade delegations and organize single country exhibitions in each other’s countries to explore the hidden trade potential.