Iran, Vietnam mulling over inking preferential trade agreement

(Saturday, January 11, 2020) 09:19

TEHRAN – Iran, and Vietnam are considering signing a preferential trade agreement in order to boost the level of trade between the two countries to $2 billion, IRNA reported.

The mentioned subject, among others, was discussed during an Iran-Vietnam business forum which was held in Tehran on Tuesday.

Facilitating visa issuance for Iranian businessmen by the Vietnamese Embassy in Tehran and setting the stage for signing the preferential trade agreement and reaching a level of up to $2 billion of bilateral trade were the main issues explored by the two countries’ private sector representatives in the forum.

The forum was attended by Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Deputy Head for International Affairs Mohammad-Reza Karbasi, Vietnam's Deputy Minister of Agriculture and Rural Development Le Quok Dawn, Vietnamese Ambassador in Tehran Nguyen Yen, and Head of Iran-Vietnam Joint Chamber of Commerce Mostafa Mousavi.

Speaking in the event, Karbasi emphasized that both Iranian and Vietnamese government officials are seeking improvement of economic relations along with good political ties.

“Vietnam is a member of ASEAN (Association of Southeast Asian Nations) and Iran is an ECO (Economic Cooperation Organization) member, while both countries are part of the Eurasian Economic Agreement, so they could help each other entering into the mentioned markets”, the official said.

Pointing to the fact that the volume of trade between Iran and Vietnam decreased by 30 percent last year, Karbasi noted that the two sides should take necessary measures to identify and facilitate the development of trade.

The two sides also underlined bartering trade as a good solution for tackling the banking problems between the two countries.

Delivering his speech in the forum, Le Quok Dawn referred to the visits of the two countries’ presidents to the other nation and said: “The fact is that there is a high level of political will for expansion of cooperation, so in practice, the current limiting barriers must be removed in order for the volume of trade between the two countries to reach the $2 billion goal.”