TEHRAN (Iran News) – The Trade Promotion Organization held a webinar on the trade capacities of Vietnam where the participants reviewed ways of cooperation.
Director-General of the Asia-Pacific Office at Iran’s Trade Promotion Organization (TPO) Seyed Reza Seyed Aghazadeh said that un this webinar some issues like economic data and information on Vietnam, the condition of trade of Vietnam with the world, Iran-Vietnam trade relations, challenges for entering this market, the arrival of startups into the Vietnam market and target industries were of the major issues which were discussed in the webinar.
He added that in the past five years, the trade volume between Iran and Vietnam has been on average around $300m and Iran’s trade with this country has always been positive.
He noted that Vietnam’s foreign trade is around $500b that there is a balance between imports and exports of the country.
Seyed Aghazadeh noted that due to the sanctions and the U.S. sanctions, Iran’s trade with Vietnam has declined and the trade volume has slumped to $60m in nine months, as Iran’s share of this figure has been $36m.
“According to the official statistics, the worth of trade between the two countries stood at $352 million in the previous Iranian calendar year [1397], the figure, however, is not approved by the joint chamber, since due to the U.S. sanctions much of the two countries’ trade is done through third countries and is estimated to be around $700 million,” Mostafa Mousavi told ILNA.
The Asian country is eager for boosting its trade with Iran and considering the banking issues the two countries trade is mostly done through bartering, the official said.
- source : IRAN NEWS
