Pakistan Is An Emerging Center Of Trade For Central Asia, South Asia, Western China and the Gulf
Pakistan Is An Emerging Center Of Trade For Central Asia, South Asia, Western China and the Gulf: Pakistan over the years have established diplomatic relations with 185 countries, economic-trade relations with 224 countries and regions, strategic partnership with 15 countries, comprehensive and extensive strategic partnership with 10 countries.
A nation of great economic importance in South Asia Pakistan is situated at the transportation track connecting Pacific and Indian Ocean to Arabian Sea, adjacent to petroleum region of Middle East and Central Asia, connecting EU and Middle East with South Asia and South East Asia, attracting a potential market of 200 million customers.
This was recognized by Vietnam ambassador Pham Hoang Kim on his visit to Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Cotton fabrics, accessories for textile, garment & footwear industries, cotton yarns, pharmaceuticals products, surgical instruments were Pakistan’s major exports to Vietnam, and Pakistan has also trade in tea, synthetic & cotton fibers, pepper, iron & steel, fish fillet, rubber cashew nuts. Vietnam Chamber of Commerce and Industry (VCCI) had already signed a Memorandum of Understanding (MoU) with the FPCCI on March 26, 2004 during President Tran Duc Luong’s visit to Pakistan
Trade relations between Pakistan and Vietnam can be further enhanced through market research, information sharing, joint trade exhibitions, and highlighting opportunities in both countries. Vietnam is an important country for Pakistan in ASEAN and Pakistani business community gave great importance to its relation with Vietnam. To boost economy trade delegations between two countries should be exchanged frequently.
Vietnamese wanted to bring its bilateral trade with Pakistan from the current US $ 700 million to US $ one billion. Vietnam had good expertise in producing hydropower and it could cooperate with Pakistan in this field. Pakistani pharmaceutical products, black pepper and many other products have good demand in Vietnamese market.
Pakistan is seen as an emerging center of trade for non-coastal Central Asia, South Asia, fast-developing Western China and the Gulf. Any trade among these regions will have to take place through Pakistan.