Vietnam, Iran vow support to achieve US$2 billion trade

10:03 | 21/04/2017 Cooperation

Vietnamese and Iranian leaders have committed all possible support to their businesses to navigate the respective markets towards a trade value of US$2 billion, President Tran Dai Quang told Chairman of the Chamber of Commerce, Industries and Mines and Agriculture of Iran Gholam Hossein Shafei during a reception in Hanoi on April 20.

President Tran Dai Quang (R) and Chairman of the Chamber of Commerce, Industries and Mines and Agriculture of Iran Gholam Hossein Shafei (Source:VNA)

The State leader said both sides have agreed to boost bilateral economic, trade, investment cooperation across oil and gas, telecommunications, agriculture and fisheries, adding that Vietnam could export quality products to Iran at competitive prices, such as rice, tea, coffee, cashew nut, pepper, rubber, motorbike and bicycle spare parts.

The Vietnamese State encourages domestic firms to invest in Iran, as well as makes it easier for Iranian citizens and businesspeople to survey the market and boost trade, investment and tourism in Vietnam.

The State also encourages Vietnamese banks to sign cooperation agreements with Iranian counterparts to pave the way for smooth payment, he said.

The host emphasised that Iran will have access to an over-90-million-people market when investing in Vietnam, adding that Vietnam stands ready to become a bridge linking Iran and the ASEAN market with a 600 million-plus population and tens of other markets with which Vietnam has signed free trade agreements.

Shafei, who is in Vietnam to attend the Vietnam-Iran business forum held on the same day, stressed that the Look East policy and development of ties with East Asian countries are Iran’s top priority, in which Vietnam plays an important role in reinforcing ties between Iran and regional countries.

According to him, two-way trade has grown 22% following high-level mutual visits in 2016.

As Vietnam is among the top 20 countries that Iran attaches importance to developing economic-trade ties, the bilateral trade value will grow further, he said.

The guest affirmed that Iran is willing to serve as a gateway for Vietnam to extend ties with Central Asia, the Middle East and Europe.

Informing the host about the outcomes of the forum, Shafei said both sides vowed to establish the Vietnam-Iran Chamber of Commerce and Industry, with offices expected to be inaugurated in the two countries next March.