Iran, Vietnam highlight establishing two-sided exchange to l...| MENAFN.COM

Wednesday, 08 February 2023 09:28 GMT

Iran, Vietnam highlight establishing two-sided exchange to left banking barriers


(MENAFN) The chief of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), in a gathering with the Vietnamese envoy to Tehran on Monday, stated that developing two-sided exchange among the two nations is going to eliminate the obstacles established by shortage of banking relations.

As said by Gholam-Hossein Shafeie, developing two-sided exchange is going to cause a higher surge in the trade exchanges among the two nations, the ICCIMA portal mentioned in a report.

Talking about Vietnam’s USD550 billion exchange this year, Shafeie stated that “Although the economic relations between Iran and Vietnam have a favorable level and the fields of cooperation between the two countries are very diverse, there are also serious problems which have prevented the realization of existing capacities.”

Shafeie highlighted banking and financial issues and transportation problems as the two major problems to the improvement of financial ties among the two nations and also stated that “Fortunately, barter trade between the two countries, especially in the agricultural sector, has a very high capacity. We need tropical fruits and rice, while Vietnam needs Iranian products such as apples, pomegranates, and other agricultural products. Therefore, it is possible to increase the barter trade interactions between the two countries through serious negotiations and leave the banking problems behind.”

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