KARACHI: Vietnam’s Ambassador to Pakistan Nguyen Xuan Luu during his visit to the Karachi Chamber of Commerce and Industry (KCCI) on Monday said that many Vietnamese company were interested to do trade and investment in different sectors in Pakistan with focus on Karachi.
“Karachi is a very important city and has a huge economic potential. Certainly, it is an economic hub of Pakistan,” he commented while talking to KCCI President Iftikhar Ahmed Vohra, Senior Vice President Muhammad Ibrahim Kasumbi and other senior officials of the chamber.
Ambassador Luu agreed that bilateral trade and investment was much lower than the potential on the two sides.
His meeting was in line with 16-member Vietnamese business delegation’s visit to Karachi scheduled for August 12. “I am here to explore and enhance cooperation,” he said.
More cooperation can be between the Karachi Chamber and Vietnamese companies, he said that he would welcome Pakistani delegation to Vietnam.
He supported the KCCI president’s recommendation for signing of a memorandum of understanding (MoU) between KCCI and Vietnam Chamber of Commerce for increased cooperation.
He acknowledged KCCI role in promoting trade and industry. The ambassador said that Pakistan has a huge consumers market and Vietnam’s business community can benefit from this opportunity.
“I see very good business in Pakistan,” he remarked. Many Vietnamese companies had shown their keenness to invest and provide their expertise in various economic sectors of Pakistan especially in agriculture and seafood.
He said that Vietnam also can import different items mainly textile and leather products.
He supported the KCCI president’s proposal for more interaction including exchange of delegations at the two governments and the private sectors’ level for promotion of bilateral trade and strengthening the economic cooperation/partnership.
Ambassador Luu mentioned that he had very good liaison with Pakistan’s ambassador to Vietnam and tried his best to exchange information relating to trade and investment between the two countries.
He also supported that at least preferential trade agreement (PTA) should be signed between the two countries, which will create a win-win situation for both the peoples.
To a question about visa policy, he said that his country had a very liberal visa policy.
A business visa, on recommendation by KCCI and other chambers of Pakistan, was issued within six to seven days. In special cases, this is done even in three days.
The diplomat said his country had signed free trade agreements (FTAs) with 10 countries and negotiations were in progress to sign the agreements with another 11 countries including Europe, United States and France.
The ambassador highlighted the main features of his country’s economy and the economic policies; with note that Pakistan and Vietnam can be very good partners.