Pakistan-Vietnam Trade Nears $1 Billion

Pakistan-Vietnam trade has shown steady growth in 2024, reaching approximately $850 million, with both countries aiming to hit the $1 billion mark in the near future, according to Vietnam’s Ambassador to Pakistan, Pham Anh Tuan.

The ambassador stated that the consistent growth in trade volumes reflects a strong foundation and increasing momentum between the two nations. He added that the long-term vision of both prime ministers is to raise bilateral trade to $10 billion, creating broader economic opportunities for both sides.

According to official figures, Pakistan’s exports to Vietnam in 2024 stood at $328 million, while imports from Vietnam were valued at $522 million. This marks a significant increase from the 2023 total trade volume of $750 million.

Key Pakistani exports to Vietnam in 2024 included:

• Cereals: $117.26 million
• Cotton: $65.64 million
• Raw hides and leather: $26.59 million
• Meat products: $14.33 million
• Pharmaceuticals: $10.67 million

Vietnam’s major exports to Pakistan consisted of:

• Electrical and electronic equipment: $186.67 million
• Coffee, tea, and spices: $30.70 million
• Man-made filaments: $20.63 million

Vietnam’s ambassador highlighted the complementary nature of Pakistan-Vietnam trade, noting that both economies offer mutual strengths across multiple sectors. He also emphasized that Vietnam’s growing global trade, currently at $800 billion with a target of $1 trillion, provides significant opportunities for Pakistani exporters.

The ambassador’s comments come following the 5th Meeting of the Pakistan-Vietnam Joint Trade Committee, held in Hanoi on July 11, 2025. The meeting marked renewed engagement between the two sides, with plans to begin formal negotiations on a Preferential Trade Agreement (PTA) within 2025 to further streamline and expand Pakistan-Vietnam trade.