Tehran Starts Bartering Trade With Hanoi
IRAN NEWS ECONOMIC DESK
TEHRAN – A member of industries commission in Iran Chamber of Commerce says Iran has started bartering trade exchanges with Vietnam, adding that by launching barter system, the country’s exports would increase by 40 percent.
Mohammad Hassan Didehvar in an interview with ILNA said that launching the bartering trade system is the easiest way for transfer of goods into the country, adding that perhaps in the past years bartering system was an appropriate way for easy exports but currently there is no harmony in this system because the country’s exports have significantly declined and it is not as much as imports, reiterating that barter will be good and useful issue if there are some facilities for exports.
On the restrictions for exports, he said that unfortunately exports have been limited, for example, Iran has huge amount of money in South Korea which has been blocked and due to sanctions the country is unable to export to South Korea but with country like Russia this method is still on.
He noted unfortunately what Iranian exporters are after it does not exist in Eastern Bloc and all are related to European states, South Korea and Japan which do not have barter trade exchange with Iran. He added that Iranian traders have recently started bartering trade exchange with Vietnam.
Didehvar went on to say that bartering trade is an appropriate way in case those countries which have blocked our money let us have barter trade with them.
He urged the government and officials to step in to solve the issue of frozen money in those countries and to work on bartering trade with those countries.
He reiterated that in case bartering trade with those countries begins, Iran will see 30 to 40 percent growths in exports and foreign ministry should interfere.
He admitted recent U.S. sanctions on 18 Iranian banks and financial institutes have stepped up the problems for exporters.