Vietnam is the 13th most densely inhabited country in the world,
possessing a vivacious and young labor force with 93.5% being literate.
An international report published by United Nations revealed that
Vietnam has accomplished a number of Millennium Development Goals
(MDGs) including attainment of universal primary education, abolition
of extreme hunger and poverty as well as the endorsement of gender parity in education. Vietnam’s accession to World Trade Organization has boded well for attracting foreign direct investment to the country.
Vietnam has emerged as one of the most successful developing
economies of the Southeast Asian region. The country is transforming itself from one of the poorest countries to the lower-middle-income groups and that too only in a quarter of a century. Pakistan is no doubt the great admirer of the
sustained fast-paced financial growth of Vietnam seen during the past
few years due to far-sighted policies and of course due to its leadership.
This economic growth provides numerous important lessons to the
emerging economies of the world. Pakistan is also keen to engrave
Vietnam’s support for its quest to become a full dialogue partner with
ASEAN as it desires to build a mutually beneficial relationship with it.
The joint working groups working on behalf of both countries tend
to initiate several different plans and actually look for the areas where
there is an opportunity to enhance cooperation. The bilateral
investment and enterprising of banking channels are a few of the
initiatives which should be said to be the catalyst to move forward in the right direction. In a recent meeting with office-bearers of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Vietnamese Envoy Nguyen Tien Phong stressed upon fast-tracking the approval of preferential trade agreement (PTA) between the two nations. He also called for implementing it effectively to multiply the trade volumes. The bilateral trade volume of $600 million per year and the two countries possess ample potential to enhance it to $10 billion in the coming years.