Vietnam Celebrates 80th National Day, Stronger Bilateral Ties with Pakistan

On Thursday, the Embassy of Vietnam in Pakistan hosted a reception to mark the 80th National Day of the Socialist Republic of Vietnam, commemorating the country's journey from independence to economic transformation and consolidating strong bilateral ties with Pakistan. The ceremony was attended by the diplomatic corps and government officials, with Minister of State for Finance and Railways Bilal Azhar Kayani as the chief guest.

Vietnam's Ambassador to Pakistan, Pham Anh Tuan, highlighted the country's remarkable transformation since the introduction of the Doi Moi (Renovation Policy) in 1986, with GDP reaching $475 billion in 2024 and per capita income at $4,700. The envoy also emphasized bilateral trade volume, which reached $850 million in 2024 and is expected to exceed $1 billion in 2025. Both countries have made significant efforts to institutionalize their partnership through various committees and agreements, including a landmark decision to launch negotiations for a Preferential Trade Agreement in 2025.

Key Takeaways:

• Vietnam has risen from poverty and isolation to become one of Asia's most dynamic economies since the introduction of the Doi Moi (Renovation Policy) in 1986.
• The country's GDP reached $475 billion in 2024, with a per capita income of $4,700 and a growth rate of 7.1 per cent.
• Vietnam and Pakistan established diplomatic ties 53 years ago and have expanded cooperation in politics, trade, culture, and people-to-people exchanges.
• Bilateral trade volume reached $850 million in 2024 and is expected to exceed $1 billion in 2025.
• Both countries have taken significant steps to institutionalize their partnership through the Joint Ministerial Committee, Bilateral Political Consultations, and the Joint Trade Committee.
• A landmark decision was reached at the 5th Joint Trade Committee meeting, where both countries agreed to launch negotiations for a Preferential Trade Agreement in 2025.
• Vietnam is ready to host trade fairs, exhibitions, and investment forums to encourage greater engagement between Pakistani and Vietnamese businesses.

Statistics:

• Vietnam's GDP reached $475 billion in 2024.
• The country's per capita income is $4,700.
• Vietnam's growth rate is 7.1 per cent.
• Bilateral trade volume between Vietnam and Pakistan reached $850 million in 2024.
• The trade volume is expected to exceed $1 billion in 2025.

Sources:

• Pakistan Today: "Vietnam Embassy hosts reception to celebrate 80th National Day"
• The Express Tribune: "Vietnam celebrates 80th National Day, reaffirms bilateral ties with Pakistan"
• Embassy of Vietnam in Pakistan: Official statement on the 80th National Day of the Socialist Republic of Vietnam