Iran-Vietnam trade to reach $500m in five years

TEHRAN,May 15(MNA) - Iran and Vietnam signed an agreement to raise their bilateral trade to $500 million in a five-year time span. The agreement was signed by Iranian Industry, Mines and Trade Minister Mehdi Ghazanfari and Vietnamese Agriculture and Rural Development Minister Cao Duc Phat in the eight meeting of Iran-Vietnam Joint Economic and Technical Cooperation Commission, which was held in Hanoi on Tuesday. The value of trade between Iran and Vietnam exceeded $204 million last year, showing 4 percent growth year on year, Ghazanfari said. The two sides discussed further cooperation in the fields of industry, mine, agriculture, art and culture, youth and sport, information technology and communications, oil and petro-chemistry, and fishery. Figs, pistachios, oil and petrochemical products, and bird foods are the main items which are exported from Iran to Vietnam. Fish, black and green teas, computer parts, and packaging machineries are the main items which are exported from Vietnam to Iran. Iran is keen to expand its relations with Vietnam, Iranian Foreign Minister Ali Akbar Salehi said in a meeting with Vietnam’s Deputy Foreign Minister in Asian and African Affairs Negoavn Fung Nega in Tehran on April 13. Vietnamese official called for increasing bilateral relations in view of the fact that the two countries have high economic potential.