Iran, Vietnam agree to exchange trade delegations to enhance economic cooperation
Date
12/11/2024 3:34:49 AM
(MENAFN) Iran and Vietnam have agreed to exchange trade delegations in a bid to enhance their economic cooperation. This decision follows a visit by 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 fruitful talks with the Ho Chi Minh City branch of the Vietnam Chamber of Commerce and Industry (VCCI), focusing on key issues such as trade barriers, export expansion, and participation in major exhibitions.
As part of this collaboration, Vietnam plans to send two delegations to Iran to attend the Iran Expo and a tourism exhibition. In return, the Iranian delegation will visit Vietnamese factories specializing in home appliances and audio-visual equipment, identifying potential sectors for investment and technology transfer. These activities underscore the growing interest in deepening bilateral economic ties between the two countries.
Earlier discussions also emphasized the importance of diversifying trade portfolios to include tropical fruits, food products, pharmaceuticals, construction materials, and marine products. Both nations have recognized the need to strengthen financial mechanisms and improve logistics, including establishing direct shipping lines. They are also exploring a preferential trade agreement to streamline transactions and facilitate increased trade volumes, aiming to reach USD2 billion annually.
Recent developments indicate significant momentum in the trade relations between Iran and Vietnam. With a focus on mutual cooperation and the exchange of resources and expertise, both countries are working towards greater economic integration, aligning their efforts with previous strategic goals to expand and diversify their trade activities.
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