Vietnam, Pakistan Prime Ministers Set $10 Billion Bilateral Trade Goal

Riyadh, The Gulf Observer: Prime Minister Phạm Minh Chính emphasized Vietnam’s commitment to deepening friendship and cooperation with Pakistan during a meeting with Pakistani Prime Minister Shehbaz Sharif on the sidelines of the 8th Future Investment Initiative (FII) Summit in Saudi Arabia on October 30.

At the meeting, Chính expressed Vietnam’s aspiration for more intensive and practical collaboration with Pakistan, particularly in the areas of trade, tourism, and people-to-people exchanges. He highlighted the untapped potential in economic and trade relations between the two nations, which have yet to fully reflect their strong political ties. With a combined market and population of 300 million, both leaders agreed there is significant room for growth in bilateral trade.

Chính recommended opening markets further and strengthening mutual cooperation, proposing more business, investment, and tourism forums to foster understanding and exchange up-to-date insights on each nation’s economic landscape. He conveyed official invitations from Vietnam’s senior leadership to Pakistani leaders, also extending a personal invitation for Prime Minister Sharif to visit Vietnam at an early date.

Prime Minister Sharif, acknowledging Vietnam’s achievements as a model of national liberation, development, and growth, suggested targeting a bilateral trade goal of $10 billion in the near future. He expressed hope to welcome Chính and other Vietnamese leaders to Pakistan, underscoring Pakistan’s interest in Vietnam’s successful development trajectory.

The two leaders shared a vision for strengthening ties through high-level delegations, including exchanges between their foreign ministers and ministers responsible for sectors such as information technology, science and technology, and agriculture. They also agreed to promote cooperation in emerging fields, such as digital transformation, green energy transition, and the circular economy.

Both Prime Ministers discussed collaborative efforts to enhance cooperation between Vietnam and Pakistan in international and multilateral forums, with the shared objective of fostering peace, cooperation, and sustainable development in the region and globally.