Iran, Vietnam Urged to Boost Trade

Deputy Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Ghadir Ghiafeh highlighted the pressing need for alternative mechanisms to mitigate banking and transportation hurdles that have increased trade costs between Iran and Vietnam.

Speaking at the Iran-Vietnam Business Forum, hosted by Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on Wednesday, Ghiafeh noted that the US$200 million trade volume between the two nations does not reflect their full potential. "This figure can grow significantly through comprehensive planning, facilitating information exchange, and leveraging modern technologies," he said.

Ghiafeh pointed to opportunities for collaboration in renewable energy, technology transfer, and food and agricultural industries. He also emphasized expanding tourism, joint ventures, and technical and engineering services, along with establishing production units to cater to regional and global markets.

"Over the past year, several trade delegations from both countries have exchanged visits. This, combined with the political will of both governments to enhance economic relations, has created immense opportunities for the private sector," he added.

Ghiafeh called for deeper collaboration between the private sectors of the two countries, urging business operators to craft practical solutions to overcome obstacles and bolster joint ventures.

On the sidelines of the forum, a memorandum of understanding was also signed by Mostafa Mousavi, the chairman of the Iran-Vietnam Joint Chamber of Commerce, and Tran Van Tri, Chair of the Vietnam-Iran Business Council.