Accelerating Vietnam - Pakistan economic and trade cooperation

On the morning of July 11, 2025, in Hanoi, Vietnamese Minister of Industry and Trade Nguyen Hong Dien had an official meeting with Pakistani Minister of Commerce Jam Kamal Khan.

The talks are not only an annual exchange between the two focal agencies on economy and trade, but also demonstrate new aspirations, high political determination and strategic harmony between the two countries aiming for a two-way trade turnover of 10 billion USD within the next 5 years.

Panorama of the Talks. Photo: Ho Ha

Direct flights will open soon

Right from the first minutes, the atmosphere of the talks showed the spirit of sincerity, trust and frankness of both sides. Minister Nguyen Hong Dien affirmed that although Vietnam and Pakistan are geographically far apart, the two countries have many similarities and favorable conditions to promote extensive cooperation, especially in the fields of trade and investment.

He emphasized that if Vietnam can achieve trade turnover with the United States at 135 billion USD, with China at 125 billion USD, and with South Korea at nearly 80 billion USD, it is completely possible to set a similar goal with Pakistan, a country with a large population, rich natural resources and great development needs.

From Pakistan, Minister of Commerce Jam Kamal Khan expressed his admiration for the impressive progress of the Vietnamese economy . He said that Pakistan pays great attention to developing cooperation with ASEAN countries, and Vietnam is considered an important strategic partner. With the advantage of close relations with East African countries and the Central Asian region - where many countries are growing 6-8% GDP/year, Pakistan wishes to establish joint ventures and strategic cooperation with Vietnam to jointly access potential third markets.

Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Pakistani Minister of Commerce Jam Kamal Khan and delegates pose for a souvenir photo. Photo: Ho Ha.

One of the highlights of the talks between Pakistan’s Commerce Minister Jam Kamal Khan was the proposal to open a direct flight between Vietnam and Pakistan. The Pakistani Commerce Minister said he had worked directly with airlines and hoped to soon establish a flight route between Hanoi and Islamabad, because according to him, this is the “key” to removing a series of barriers from tourism, trade to investment and people-to-people exchanges.

On the Vietnamese side, Minister Nguyen Hong Dien shared that after receiving the proposal, he immediately contacted Vietnam's largest private airline, VietJet Air. The airline expressed its willingness to research and even test charter flights in the short term if technical and market conditions allow. He believes that when the route is opened, not only will the flow of tourists and investors increase, but the business communities of the two countries will also have more motivation to connect.

Expanding multi-dimensional cooperation

The two ministers agreed that the target of reaching 10 billion USD in two-way trade turnover is feasible but needs to be materialized through substantive cooperation mechanisms. According to Minister Nguyen Hong Dien, the figures of 850 million USD in 2024 and 330 million USD in the first 5 months of 2025 are positive signals. However, considering Vietnam's total international trade turnover - expected to reach 800 billion USD this year, this ratio is still too modest, less than 1%. That shows that there is still a lot of room for cooperation.

However, both sides frankly acknowledged a number of barriers that need to be removed soon. The most notable of these is that the two countries do not have a bilateral trade agreement, leading to high tariffs and many technical barriers on goods. The Pakistani Minister of Commerce suggested that Vietnam consider applying a tax exemption or reduction mechanism, especially for strategic goods such as minerals, agricultural products and textiles.

Vietnamese Minister of Industry and Trade Nguyen Hong Dien presents a souvenir to Pakistani Minister of Commerce Jam Kamal Khan . Photo: Ho Ha

Minister Nguyen Hong Dien also pointed out that, in order to meet the increasingly high standards of origin from the international market, Vietnam is in great need of raw materials with clear origin and stable quality from Pakistan. He called on the two sides to soon negotiate a framework trade agreement or bilateral trade agreement. Having a transparent legal corridor will help businesses feel secure in expanding investment, production and export.

One area of particular interest to both Ministers is mineral exploitation and processing. Vietnam is currently in the process of developing its deep processing industry and aiming to reduce its dependence on imported raw materials from third markets. Meanwhile, Pakistan has abundant mineral resources and is promoting mineral export programs to the US, China and other major markets. The two sides agreed to step up investment promotion in this area, through specialized exhibitions, industrial fairs and business survey missions.

In particular, the two Ministers mentioned cooperation in the field of Halal - a global market worth trillions of USD that both Vietnam and Pakistan have the potential to access. Minister Jam Kamal Khan said that Pakistan is willing to share Halal standards and certifications and support Vietnamese enterprises to expand their markets to Muslim countries in the Middle East, Africa and South Asia. Minister Nguyen Hong Dien suggested that the two sides urgently promote the mutual recognition mechanism of Halal certificates, in order to shorten the time and costs for enterprises.

Pakistani Minister of Commerce Jam Kamal Khan presents a souvenir to Vietnamese Minister of Industry and Trade Nguyen Hong Dien . Photo: Ho Ha

A common point noted throughout the talks was the political determination from the highest level. The Pakistani Minister said that the Pakistani Prime Minister had emphasized that the target of 10 billion USD was something that "must be achieved from tomorrow", and after the talks, he directly reported to the Prime Minister to prepare for a high-level visit to Vietnam in the near future. At the same time, he also sent an invitation to the Vietnamese Government and leaders to visit Pakistan to continue the positive results from today's talks.

On the Vietnamese side, Minister Nguyen Hong Dien affirmed that he would report to the Government for early consideration of opening air routes, creating special visa mechanisms, and supporting Pakistani startups and investors to access the Vietnamese market. He said that Vietnam is ready to apply major reforms, not only at the central level but also down to the commune level - where people and businesses directly benefit from the policies.

In addition, Minister Nguyen Hong Dien also proposed that in July the two sides will organize a technical working group to review remaining issues, in August a high-level Vietnamese delegation will visit Pakistan, and in September the two countries can coordinate to organize a large-scale Vietnam-Pakistan trade promotion week.

At the meeting, the two Ministers affirmed that this is not only an economic diplomatic event, but also the beginning of a new cooperation process - practical, effective and sustainable. With a strategic vision, flexible mechanism and high political determination, the economic and trade relations between Vietnam and Pakistan are entering a new stage of development, not only to reach 10 billion USD in 5 years, but also towards greater values: the connection of emerging economies, the resonance between long-standing cultures and the companionship of two countries that are continuing to write the development story with their own internal strength.

Source: https://baodautu.vn/tang-toc-hop-tac-kinh-te-thuong-mai-viet-nam--pakistan-d328467.html