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Pak-Vietnam possess immense economic cooperation potential



Federal Minister for Industries & Production Ghulam Murtaza Khan Jatoi, Tuesday, said that Pakistan and Vietnam possessed immense potential for economic and commercial relations and the current trade volume could be substantially enhanced. Foreign investors are allowed to hold 100 percent equity and enjoy tax concessions.
Talking to a delegation headed by vice Minister of Industries and Trade of Vietnam Cao Quoc Hung here Federal Minister said that that Pakistan offered excellent opportunities for foreign investors Special Economic Zones. Pakistan has recently introduced the Auto policy and Vietnam can get benefit from that policy by investing in Auto sector in Pakistan.
Rais Ghulam Murtaza Khan welcomed the delegation and stated that this visit is reflective of the increasing ties between Pakistan and Vietnam and will certainly provide impetus to further expand bilateral relations in various sectors especially economic, trade & commerce, investment and other areas of mutual interest.
Federal Minister for Industries & Production Ghulam Murtaza Khan Jatoi said Pakistan is strategically located at a regional hub with abundant land and natural recourses, strong human resources, large and growing domestic market well establish infrastructure and legal system. Foreign investors are allowed to hold 100 percent equity and enjoy tax concessions.
Meanwhile, Pakistan and Vietnam, Tuesday, agreed on frequent interaction of trade bodies and trade exhibitions in order to enhance the volume of bilateral trade in coming years.
Both the countries also decided to continue cooperation with each other in Health, Education and Industrial Sector. Vietnamese side was offered to invest in Information Technology, food processing and automobile sector in Pakistan.
Both the countries developed this sort of consensus at the 4th Session of Pakistan – Vietnam Joint Ministerial Commission (JMC) was held here.
Secretary Economic Affairs Division Arif Ahmed Khan led the Pakistani delegation while Minister of Industry and Trade, Socialist Republic of Vietnam Mr. Cao Quoc Hung,Vice led the Vietnamese delegation.
Both sides discussed and agreed to initiate steps to enhance bilateral trade and economic cooperation in Agriculture, Information Technology, Education, Health, Investment & Banking and Industrial Sectors.
The Vietnamese Government reiterated its un-flinched support for Pakistan’s full dialogue partnership with ASEAN which will usher in new vistas of cooperation in the fields of trade and investment between the two countries.
Pakistani Government proposed Vietnamese side to move forward on Preferential Trade Agreement during forthcoming meeting of Joint Trade Committee (JTC).
Both sides showed their resolve for enhanced cooperation in Agriculture, Science & Technology, and Information Technology sectors through frequent interaction of Joint Working Groups (JWGs) that will yield productive results.
The bilateral investment and establishment of banking channels will be catalyst in realizing these objectives.