Commerce Minister Jam Kamal: Vietnam and Pakistan embrace new trends for mutual benefit

Pakistan's Commerce Minister Jam Kamal affirmed his desire to build a joint venture with Vietnam to exploit potential cooperation opportunities, creating a springboard towards new markets in Africa and Central Asia.

Pakistan's Commerce Minister Jam Kamal gave an interview to The Gioi va Viet Nam Newspaper on July 10 in Hanoi on the occasion of working with the Vietnam-Pakistan Joint Trade Commission from July 9-12. (Photo: Xuan Son)

Benefit together, develop together

Commerce Minister Jam Kamal affirmed that over the past year, Pakistan has really expanded its market in Vietnam, with the important driving force being the increase in contacts and exchanges between businesses of the two countries. Vietnamese trade promotion delegations attended two major fairs in Pakistan, one in Lahore and one in Karachi, the two leading economic centers of Pakistan, to expand trade opportunities, increase the value of agricultural and aquatic products and apply high technology to product manufacturing.

"With such an approach, I see many opportunities for Pakistan-Vietnam relations to develop further. This is also a follow-up result from the good exchange between the Prime Minister of Pakistan and the Prime Minister of Vietnam in Riyadh (Saudi Arabia) at the end of 2024, to help the two countries develop trade, share experiences, skills, technology as well as anticipate new trends for mutual benefit," the Pakistani Commerce Minister emphasized.

According to Mr. Jam Kamal, Vietnam has great strengths in information and communication technology (ICT) and is planning to develop the semiconductor industry. Vietnam has a large middle-aged class and an enthusiastic youth force, and so does Pakistan, with a population of nearly 250 million people, most of whom are between the ages of 15 and 30.

Manufacturing sectors such as telephone industry, footwear, textiles, leather, agriculture, ICT, etc. are all sectors with growth potential. Mining is also a good direction for the future. Pakistan is one of the countries with the world's leading potential in mineral resources, especially rare earths which are essential for the electronics industry. Textiles are also Pakistan's leading strength, especially garments, clothes, bed sheets, linen and many other products.

Mr. Jam Kamal said: "These are the areas that we want to cooperate in, through joint ventures to exploit together, creating a springboard towards other markets. Cooperating with Pakistan, the Vietnamese industry will have a great advantage because Pakistan is close to Africa, especially East Africa, and has the ability to access Central Asian countries. The two countries can completely sign trilateral economic agreements with African countries, Central Asia and many other regions."

Halal Bridge

The size of the global Halal economy, including the Pakistani market, is expected to reach about 10,000 billion USD by 2028. (Source: Wego)

According to the Pakistani Commerce Minister, Vietnam is working with GCC (Gulf Cooperation Council) countries and other regions to increase the potential of the Halal market. The Muslim community in the world is very large, giving priority to using Halal food, but for Halal to truly meet standards, certification is needed. This is the area that Pakistan is trying to promote. Therefore, Islamabad has connected with Malaysia because this is one of the countries with very high Halal certification standards. If Vietnam is aiming for the Halal industry and wants its products to be widely used, this is the direction that the Vietnamese and Pakistani business communities should consider.

"We can coordinate with the competent authorities and Halal organizations in Vietnam and Pakistan. In the context of the two countries conducting the Joint Trade Committee meeting, this can become the next follow-up content, implemented by different agencies in the government," Mr. Jam Kamal shared.

Emphasizing the importance of maintaining interaction between the business communities of the two countries, the Pakistani Commerce Minister said that the government only plays a supporting role, while the real ones who see the opportunities are the business community. Because to develop any economic or business opportunity, it needs to be commercially viable and based on demand and market mechanisms. Especially in the context of e-commerce development, there are many startups and small businesses that can exploit digital commerce through electronic platforms.

Therefore, Minister Jam Kamal proposed: "Chambers of commerce and business associations in Pakistan need to meet, exchange and visit Vietnam more often. We are planning to send more business delegations to Vietnam and we also hope for the same, that is, Vietnamese business delegations to Pakistan."

Connecting air routes, connecting cultures

Air connectivity is an important condition to promote tourism between Vietnam and Pakistan. (Source: VnEconomy)

Pakistan's Commerce Minister said that the South Asian country is working to promote four pillars: tourism, connectivity, culture and cuisine. Although the two countries have many scenic spots and large populations, Vietnam has over 100 million people and Pakistan has over 250 million people, there is no connection due to the lack of direct flights. Therefore, attracting just 1% of the population of both sides can open up many prospects for cooperation. When connecting flights, business activities will naturally increase, tourism will also increase and people-to-people exchanges will develop.

"We are really pushing this issue and have been talking to the Pakistani Aviation Minister, strongly lobbying for connecting flights between the two countries. Once the route is opened, there will be many attractive tourist destinations, cultural and religious sites for people to explore. We still say that Buddhism originated in Pakistan. Taxila is the land where Buddha once lived, the largest ascetic Buddha statue is kept in the museum in Lahore. This used to be a destination that many Buddhists sought out, and we are trying to restore this trend," said Mr. Jam Kamal.

The Pakistani Commerce Minister shared that Northern Pakistan has beautiful scenery, with the world's second highest mountain, K2. The terrain in Pakistan is very diverse, from deserts, plains, rugged mountains to the coast. Vietnam also has similarities with its mountains, plains, and sea. Pakistani people tend to travel to the Middle East, Europe, and Southeast Asia. Vietnam can absolutely become a new destination for them.

"Besides, Pakistan is famous for its cuisine, and so is Vietnam. This could be an attractive change of taste for the people of the two countries, creating a new cultural exchange. We believe that when people meet, opportunities will naturally open up. Therefore, the important task is to ensure that the aviation industry of the two countries is soon connected, so that flights between Pakistan and Vietnam can be exploited soon," Mr. Jam Kamal expressed.

Source: https://baoquocte.vn/bo-truong-thuong-mai-jam-kamal-viet-nam-va-pakistan-don-dau-cac-xu-huong-moi-de-cung-huong-loi-320623.html