Pakistan, Vietnam to cooperate in seafood sector

KARACHI: Pakistan and Vietnam agreed on joint cooperation in the seafood sector, said spokesperson of Trade Development Authority of Pakistan (TDAP) in a statement.
The agreement was made at the third Joint Commission on Trade, which concluded on Thursday in Hanoi, Vietnam between the Pakistan Commerce Ministry, and Vietnam Industry and Trade Ministry.
Commerce Secretary Shehzad Arbab and Do Thang Hai Deputy Minister of Industry and Trade deliberated on each country’s social and economic development, reviewed bilateral relations, and set forth timelines for action plans to enhance regional trade.
The commission noted that trade between the two countries, though limited in scale, has been growing rapidly over the last few years. From bilateral trade of $92 million in 2007, trade figures in 2014 were at $420 million, showing substantial increase and growth.
Discussion was also made on exploring complementariness of trade between the two countries.
Many items such as home textile, polyester, mandarins / kinnow and hosiery, which Vietnam imports from the world, are exported by Pakistan in large quantities and can be made accessible to the Vietnamese market.
The Vietnamese side showed interest in energy development projects and increasing tourism between the two nations.
The trade commission also discussed greater exchange of business delegations and participation in each other’s trade fairs.
TDAP Secretary Rabiya Javeri Agha signed a Memorandum of Understanding and a joint action plan with her counterpart Vietrade (Vietnam Trade Promotion Agency).
The TDAP committed to send and receive relevant business delegations to Vietnam, and will set up a Vietnam desk for trade assistance and trade enquiries.
The trade development authority will also take part in the 15th Vietnam International Hospital Medical and Pharma Expo in Ho Chi Min in August 2015 and the Vietnam Expo in March 2016.
The meeting concluded with positive inputs for enhanced trade, cooperation, and exchange of information between both countries.