Iran Vietnam agree on trade delegation exchanges

Iran, Vietnam agree on trade delegation exchanges

TEHRAN – Iran and Vietnam have agreed to exchange trade delegations to boost economic cooperation following a visit of an Iranian private sector delegation to Vietnam.

Led by Ghadir Ghiafeh, Vice President of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), the Iranian delegation held productive discussions with the Ho Chi Minh City branch of the Vietnam Chamber of Commerce and Industry (VCCI).

As ICCIMA portal reported, key areas of focus included addressing trade barriers, increasing exports, and participating in major exhibitions. Vietnam will send two delegations to Iran to attend Iran Expo and a tourism exhibition. Meanwhile, the Iranian delegation will tour Vietnamese factories specializing in home appliances and audio-visual equipment, showcasing potential sectors for bilateral investment and technology transfer.

Recent developments highlight growing momentum in trade relations between the two countries. During a similar session earlier this year, discussions emphasized diversifying trade portfolios to include tropical fruits, food products, construction materials, pharmaceuticals, and marine products. Both sides have underscored the need to strengthen financial mechanisms, establish shipping lines, and explore the preferential trade agreement to facilitate smoother transactions and increase trade volumes to $2 billion annually, aligning with earlier strategic goals.

Vietnam, with its dynamic economy and export capabilities, remains a key trade partner for Iran, particularly in sectors like food, electronics, and logistics. Conversely, Iran's industrial, agricultural, and technical expertise offers Vietnam valuable opportunities for trade expansion and joint ventures in regional markets.

Both sides also see collaboration as a bridge to access ASEAN and ECO markets, leveraging their membership in regional economic blocks. The commitment to organizing regular delegations and business forums signals strong political and economic will to enhance bilateral trade relations.

EF/MA

source: tehrantimes.com