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KARACHI: Vietnam is considering the technical aspect of the draft agreement proposed by Pakistan for the finalisation of bilateral free trade agreement (FTA), said Nguyen Hong Tien, commercial counsellor and head of Vietnam trade mission, on Tuesday.
Pakistans proposal on draft FTA is under consideration and is likely to be finalised as soon as Vietnamese authorities approved it, he said, while talking to a select group of newsmen at the Karachi Chamber of Commerce and Industry (KCCI).
In the past, Islamabad and Hanoi had agreed to consider the preferential trade agreement (PTA) and FTA, he said. In this regard, Pakistan authorities sent the draft agreement to its Vietnamese counterpart, he added.
The commercial counsellor, however, said that the finalisation of the free trade agreement between the two countries would take time.
To a question about visa policy of Vietnam for Pakistani businessmen, he said, Pakistani businessmen would require a Vietnamese sponsor for obtaining the visa. There are remains of Communist era in Vietnam and security forces are vigilant about the immigration rules, he said.
He, however, said that the trade mission has requested the leaders of Vietnam to amend visa rules to open market for foreigners.
In the past, said Tien, commerce ministries of the two countries discussed the visa policy and agreed to liberalise it. It is unfortunate that Vietnam is unable to fulfil the commitment, he added.
He said that both the sides have agreed that resolution of visa issue would help increase bilateral trade volume to over $500 million in 2013.
The trade volume between Pakistan and Vietnam stood at $324 million in 2011 and it was almost balance between the two as Vietnam exports to Pakistan stood at $168 million, while the remaining was Pakistans exports to Vietnam.
Earlier in the meeting with the office-bearers of the KCCI, the counsellor said that Pakistan is a huge market for Vietnamese tea. Similarly, Pakistans major exports to Vietnam were cotton, leather and onyx.
He said that Vietnamese companies are interested in importing seafood and meat from Pakistan. He appreciated the business communitys role in bilateral trade relations.
Tien said that Vietnamese companies would participate in My Karachi Exhibition and companies from his country would acquire a pavilion at the exhibition. The commercial counsellor agreed to the KCCI proposal to organise videoconference between the entrepreneurs of the two countries for exchange of information. In the meeting, Haroon Agar, president of the KCCI, said that Vietnam should lift visa restrictions on Pakistani businessmen. He informed the commercial counsellor that Karachi is the trade and commercial hub of Pakistan and contributing around 68 percent of total revenue.
Majyd Aziz, former president of the KCCI, stressed the need to explore avenues between the two countries, including coal energy, transportation and banking facilities.
http://www.thenews.com.pk/Todays-News-3-144179-Draft-FTA-with-Pakistan-under-consideration
Pakistans proposal on draft FTA is under consideration and is likely to be finalised as soon as Vietnamese authorities approved it, he said, while talking to a select group of newsmen at the Karachi Chamber of Commerce and Industry (KCCI).
In the past, Islamabad and Hanoi had agreed to consider the preferential trade agreement (PTA) and FTA, he said. In this regard, Pakistan authorities sent the draft agreement to its Vietnamese counterpart, he added.
The commercial counsellor, however, said that the finalisation of the free trade agreement between the two countries would take time.
To a question about visa policy of Vietnam for Pakistani businessmen, he said, Pakistani businessmen would require a Vietnamese sponsor for obtaining the visa. There are remains of Communist era in Vietnam and security forces are vigilant about the immigration rules, he said.
He, however, said that the trade mission has requested the leaders of Vietnam to amend visa rules to open market for foreigners.
In the past, said Tien, commerce ministries of the two countries discussed the visa policy and agreed to liberalise it. It is unfortunate that Vietnam is unable to fulfil the commitment, he added.
He said that both the sides have agreed that resolution of visa issue would help increase bilateral trade volume to over $500 million in 2013.
The trade volume between Pakistan and Vietnam stood at $324 million in 2011 and it was almost balance between the two as Vietnam exports to Pakistan stood at $168 million, while the remaining was Pakistans exports to Vietnam.
Earlier in the meeting with the office-bearers of the KCCI, the counsellor said that Pakistan is a huge market for Vietnamese tea. Similarly, Pakistans major exports to Vietnam were cotton, leather and onyx.
He said that Vietnamese companies are interested in importing seafood and meat from Pakistan. He appreciated the business communitys role in bilateral trade relations.
Tien said that Vietnamese companies would participate in My Karachi Exhibition and companies from his country would acquire a pavilion at the exhibition. The commercial counsellor agreed to the KCCI proposal to organise videoconference between the entrepreneurs of the two countries for exchange of information. In the meeting, Haroon Agar, president of the KCCI, said that Vietnam should lift visa restrictions on Pakistani businessmen. He informed the commercial counsellor that Karachi is the trade and commercial hub of Pakistan and contributing around 68 percent of total revenue.
Majyd Aziz, former president of the KCCI, stressed the need to explore avenues between the two countries, including coal energy, transportation and banking facilities.
http://www.thenews.com.pk/Todays-News-3-144179-Draft-FTA-with-Pakistan-under-consideration
