Hanoi (VNA)- An Iran-Vietnam business forum has blamed poor relations in banking, insurance and transport for modest bilateral trade revenues, which stood at just over 100 million USD last year.
The forum, held in Hanoi on July 23, was part of a visit to Vietnam by Iran Chamber of Commerce, Industry and Minerals (ICCIM) Vice Chairman Ali Asghar Khamenavi, who was accompanied by executives from 13 Iranian businesses.
Khamenavi said the trade level was much below expectation and far from the potential of the two countries.
“We would like to work with the Vietnamese side to identify both the strengths and barriers to this relationship,” the Iranian trade boss said.
He said it was also due to a lack of information shared between business circles of the two countries as well as undue attention to decisive stimuli to trade relations such as banking, insurance and transport.
To address the issue, Vietnam Chamber of Commerce and Industry (VCCI) Deputy President Doan Duy Khuong recommended the two countries expand economic relations to tourism and investment rather than traditional sectors such as agriculture and industry.
The Iranian mission is scheduled to hold a similar forum in Ho Chi Minh City on July 24. Seminars on investment from Iran is also expected over the next three months.
Vietnam exports rice, tea, garments and textiles, wood and wooden products, and porcelains to Iran and imports crude oil, chemicals, plastic, electronic appliances, steel and fertilizers from the country.-Enditem
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