TEHRAN – Iranian and Vietnamese ministers inked a memorandum of understanding (MoU) on Sunday in Tehran for accelerating resumption of banking cooperation between the two countries.
The signing ceremony was held in Tehran with the participation of Iran’s Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh and Vietnam’s Minister of Agriculture and Rural Development Nguyen Xuan Cuong.
The ceremony was held on the sidelines of the ninth meeting of the Joint Economic Commission between Tehran and Hanoi.
Nematzadeh and the Vietnamese minister agreed to draw a road map in two months for bilateral cooperation in the cultural, social and economic fields.
Meanwhile, the Post Bank of Iran and Vietnam Post signed a memorandum of understanding (MoU) on exchanging international postal bill through International Financial System in Universal Postal Union one week ago.
The Vietnamese President, in a visit by chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) in Hanoi on April 20, welcomed the expansion of relations between the merchants of Iran and Vietnam and urged the Vietnamese banks to initiate the relations with the Iranian banks.
Meanwhile Vietnamese Minister said that Iran and Vietnam can complement each other’s economy and trade through positive and constructive cooperation.
Addressing the ninth joint economic commission of Iran and Vietnam, Cuong underlined the need for development of economic and commercial ties between the two nations.
Diplomatic ties between Iran and Vietnam started 45 years ago but high-profile bilateral visits between officials of the two nations reached their climax over the past few months, he said.
The Vietnamese minister added that the country’s annual trade volume stands at 20 billion dollars and that the it is planning to achieve a two-billion-dollar trade volume with Iran.
But the planned trade volume of two billion dollars is small and we should work together to increase it in the future, Cuong said.
He referred to the Iran-P5+1 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), and said that the deal brought Iran a great opportunity to engage with other countries, and this resulted in Iran’s GDP growth of 4.5 percent in 2016.