VINACHEM

HA NOI — Pakistan is calling on Vietnamese businesses to pump investment into coal mining and aquaculture sectors, according to the Vietnamese Trade Office in Pakistan.

With peat reserves of 180 billion tonnes, the country is also encouraging foreign businesses to co-operate in building thermo-electric power plants.

Pakistan praised Viet Nam's achievements and experiences in aquaculture and proposed that the Vietnamese Government send experts to assist Pakistani farmers in the sector, the office said.

The Pakistani Government would offer coastal areas free of charge and other incentives for Vietnamese businesses to raise fish and shrimp, it added.

The two countries have agreed to foster exchanges of hi-level delegations and market information as well as speed up the bilateral co-operation in investment, trade promotion, agriculture, education, science and technology.

This consensus was reached during the second session of the Pakistan-Viet Nam Inter-Governmental Committee held last month in the Pakistani capital of Islamabad.

During the event, the delegation of 16 Vietnamese businesses met with leading Pakistani enterprises to look for new co-operation opportunities in mining, steel, rubber, electronics, and imports and exports.

Bilateral trade turnover between Viet Nam and Pakistan considerably increased in the recent years. From a modest amount of US$10 million in 1999, two-way trade rose to $183 million in 2009.

Currently, Pakistan is Viet Nam's largest tea importer. Last year, the country imported $46 million worth of Vietnamese tea, up 21 per cent year-on-year.

Several agreements on trade, the double taxation avoidance, fisheries and aquaculture have been inked between the two countries to better facilitate mutual co-operation.

(Source: VNS)