Daily Times

Ambassador of Vietnam to Pakistan, Nguyen Tien Phong on Sunday took charge as Chairman of Association of Southeast Asian Nations (ASEAN) Committee Islamabad. In the embassy of Vietnam in Islamabad, the ACI Chairmanship handing-over Ceremony took place, Ambassador of Vietnam Nguyen Tien Phong assumed the ACI Chairmanship from Ambassador of Thailand Chakkrid Krachaiwong.

The meeting also discussed the issues of strengthening ASEAN- Pakistan relations in all fields and sectors. Expressing best wishes, the ambassador of Vietnam said that there are wider opportunities for increasing mutual economic and trade relations between ASEAM countries and Pakistan. The ambassador said that as the chairman of ACI, he should play a full role with the ambassadors of other ASEAN countries to promote the relations of ASEAN countries with Pakistan.

The Vietnamese ambassador to Pakistan said that Pakistan has huge trade and investment opportunities in Association of SouthEast Asian Nations (ASEAN’s) US$ 3 trillion economy for increasing the bilateral trade and economic ties. With ASEAN’s US$ 3 trillion economic power and a large market of 650 million people in the region, the mutual US$7 billion trade between ASEAN and Pakistan is far below its potential, the Ambassador said. He said that Pakistan is a huge market with a Gross Domestic Product (GDP) of US$300 billion and a population of 230 million, where there are huge opportunities for ASEAN countries as well. Regarding multilateral trade in Association of SouthEast Asian Nations (ASEAN) and Pakistan’s trade interests with this trading bloc, the Vietnam Ambassador said that Vietnam, being an important member of ASEAN, would play its full role in paving the way for trade for Pakistan.

He said that at present there is a bilateral trade of about USD $7 billion between the Pakistan and ASEAN countries, which is far below its potential. Nguyen Tien Phong said that Pakistan also has good trade and economic relations with ASEAN countries, which need to be further enhanced.