Vietnam, Iran Boosting Trade Ties

The Vietnam Chamber of Commerce and Industry and the Iranian Chamber of Commerce and Industry and Minerals (ICCIM) July 23 co-organized the Vietnam-Iran Business Forum in Hanoi, aiming to enhance and promote bilateral trade and economic relations.

 

The forum was part of a visit to Vietnam by the ICCIM&rsquos Vice Chairman Ali Asghar Khamenavi, who was accompanied by utives from 13 Iranian businesses.

 

During the event, representatives from both sides agreed that the current trade and economic relations have not yet matched the two countries&rsquo potential.

 

According to the Ministry of Foreign Affairs, trade turnover between Vietnam and Iran steadily increased from nearly US$30 million in 2003, US$39 million in 2004, US$100 million in 2005 and around US$107 million in 2007.

 

Vice Chairman of VCCI Doan Duy Khuong said the figures were very modest and called for a stronger effort to boost trade and economic cooperative relations between the two countries.

 

A lack of information shared between business circles of the two countries and undue attention to decisive stimuli to trade relations such as banking, insurance and transport are mainly blamed for the poor trade, said Khamenavi.

 

Speaking at the forum, Iranian ambassador to Vietnam Ghavam Shahidi said Vietnam and Iran have great potential for cooperation in the field of economics and trade. Apart from the traditional areas of agriculture, garment and textiles, both countries can expand cooperation in credit, banking and tourism services. Iran is committed to supporting and creating favorable conditions for foreign investors including Vietnamese enterprises.

 

Early next month, Vietnam will s a delegation to att the &ldquoVietnam-Iran Business Forum&rdquo in Tehran while Iran will arrange for a delegation of enterprises to come to Hanoi with the aim of seeking business opportunities in Vietnam.

 

Iran has a great demand for importing rice, rubber, coffee, pepper, timber and wood products, footwear, plastics, cashew nuts, ceramics, rattans and bamboos from Vietnam, said the forum.