The Ambassador of Vietnam to Pakistan, Nguyen Tien Phong, stated that Pakistan has immense trade and investment opportunities in the Association of Southeast Asian Nations (ASEAN) and suggested it increase bilateral trade and economic ties.
The ASEAN comprises ten countries, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, Myanmar, Vietnam, Cambodia, Brunei Darussalam, and the Lao People’s Democratic Republic (PDR), with a combined economy of $3.2 trillion and a market of around 650 million people.
The ambassador said that the mutual $7 billion in trade between the ASEAN and Pakistan is far below potential.
He remarked that Pakistan is a massive market with a gross domestic product (GDP) of $300 billion and a population of 230 million, suggesting Pakistan could benefit much more from trade with ASEAN.
The ambassador said that as an important member of the ASEAN, Vietnam would play its role in paving the way for Pakistan in multilateral trade in the ASEAN.
The ambassador took charge as the Chairman of the ASEAN Committee in Islamabad on Sunday.
