In the meeting both sides explored ways for boosting bilateral cooperation through removing hurdles in way of the trade and finding ways for increasing bilateral trade exchanges.

First in the meeting, Ambassador of Vietnam Mr. Huy felicitated Mr. Salahvarzi for being elected as the head of the ICCIMA and emphasized importance of trade between Hanoi and Tehran, adding that Iran in terms of economy is important country for the regional and Asian states and many states in the world and this shows the correct path of diplomacy of Iran. He noted that Iran correctly emphasizes the policy of good neighborhood and look at the East.

Huy in the meeting revealed the invitation of Iran’s Majlis Speaker from Vietnam’s Parliament Speaker as the Vietnamese official is to visit Tehran next month and his goal is to broaden economic ties with Iran.

He further said that 70 heads and managers of businesses will accompany Vietnam Parliament Speaker to Tehran to Iranian economic activists for talks and knowing the economic capacities of the country. He stated that the Vietnamese official is also to meet the ICCIMA to show his good-will and will deliver a speech and therefore he is interested the ICCIMA to help the ground for this event. He said he also had talks with Iran Trade Promotion Organization for cooperation with the embassy for better holding of this meeting.

Huy then pointed to the obstacles in front of trade with Iran and said that sanctions and banking and financial relations are the main obstacle in way of trade, of course Iran’s foreign policy has recently showed that it is moving for removal of sanctions in order that sanctions and banking hurdles are removed as fast as they can. The diplomat further said that for this reason before the removal of the sanctions Vietnamese companies have decided to visit to Tehran to identify opportunities for broadening economic ties between Tehran and Hanoi in the future.

He then touched upon removing banking hurdles and said that Vietnam and Iran are facing banking mechanism hurdle in their trade tries and he had a meeting with the director general of AOCU and talked about financial mechanism. He added that next week they will decide what financial mechanism they will adopt, expressing hope that this mechanism can facilitate the way and be an efficient one.

Then Salahvarzi, for his part, said that they are well aware of the good economic growth of Vietnam as the praiseworthy economic growth has introduced Vietnam as the super star of economy. He added that considering good political relations of the governments of the two countries, they in the private sector believe they should do their best for reinforcing economic relations.

He further said that in recent years the trade between the two countries had been affected by the pandemic and sanctions but in some periods the trade between the two countries has faced upward trend but it has not been in accordance with the political tie and the ICCIMA is not happy with the volume of trade between the two countries.

Salahvarzi said that they are keen to broaden trade tie with Vietnam and establishment of the Iran-Vietnam Joint Chamber shows this interest for strengthening trade cooperation and expressed hope these relations will be based on a balanced policy and look at the East by Iran.

He added that they need some new ways for broadening economic ties and barter trade and using cryptocurrencies can be used in trade even without removal of sanctions.

He then pointed to the significance of the visit of Vietnam Parliament Speaker to Tehran and they can review and explore ways for resolving banking problem and national payment mechanism and even using barter trade.

Salahvarzi also pointed to facilitating visa process for traders as an important factor for broadening ties and called for a solution for it.

He then pointed to the fields that both countries can cooperate in them and said that both countries due to progresses in the field of startups can cooperate in it.

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In the meeting, both sides emphasized necessity for removing hurdles in way of reinforcing economic co-operation between Tehran and Hanoi especially in solving banking problems.

Shafei pointed to Vietnam’s $550b trade volume in 2022 and said that economic relation between Iran and Vietnam is in a favorable level and there are high capacities and good diversity for cooperation between the two countries but at the same time there are serious problems and these problems are big hurdles in materializing the existing capacities.

He further said that banking and monetary and transportation are two major hurdles in way of broadening economic ties between the two countries, adding that fortunately there are high capacities for barter trade between the two states especially in agriculture. He noted that Iran needs Vietnam’s tropical fruits and rice and Vietnam also needs Iran’s products like apple, pomegranate and other agro products, and therefore both sides through serious talks can boost their barter exchanges to overcome banking problem.

Shafei then pointed to the free trade agreement between Vietnam and EAEU states and said that Iran has also entered this bloc and cooperation between Iran and Vietnam in this framework will be considerable. He stressed that by the way Vietnam is one of the active countries of ASEAN and Iran is also an active member of ECO and these capacities can be taken into consideration in line with broadening multilateral relations.

He reiterated that ICCIMA will support any action for reinforcing ties between Iran and Vietnam and is ready to increase talks between the private sectors of the two states and ready to exchange trade delegation between the two countries.

He noted that easing the trade exchange between the two states and visa process for economic activists can deepen impact on these programs.

Then Ambassador of Vietnam Mr. Huy, for his part, emphasized readiness for taking required actions for deepening ties between the two countries and said that Iran is one of major trade partners of Vietnam in the Middle East and Hanoi looks at Iran as a gateway for entering this region. He noted that Vietnam is also considered an important trade partner Iran in Southeast Asia but their trade volume is around $100m per year.

He also called for resolving monetary and banking problems between the two countries and said that for barter trade they need more studies because Vietnam does not have enough experience in barter trade and expressed hope they can gain information on this field through the assistance of Iran.

Huy also called for signing a MoU by the chambers of commerce of both countries for defining roadmap and policy for the ties between the private sectors of Iran and Vietnam. He stressed that he can provide the ground for holding B2B meeting between the economic activists and business owners of Iran and Vietnam in 2023.

He urged ICCIMA to introduce Iranian companies to the embassy which like to trade with Vietnam in the fields of agro and foodstuff like rice and pepper and the Vietnam Embassy will introduce the companies to their Vietnamese counterparts.

He added that the embassy is working to facilitate visa issuance for Iranian traders, adding that if the traders have letters of introduction from the ICCIMA, the visa issuance processes will be accelerated.

Then Head of Iran-Vietnam Joint Chamber of Commerce who was present in the meeting raised some suggestions for improving trade ties between Tehran and Hanoi.

Mostafa Mousavi said that launching the direct flight will help both countries to broaden their economic ties and his suggestions were welcomed by the Vietnamese diplomat.

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