VietNamNet Bridge – Iranian President Hassan Rouhani yesterday (Oct 5) started his three-day State-level visit to Viet Nam at the invitation of his Vietnamese counterpart Tran Dai Quang.

Iranian President Hassan Rouhani. VNA/VNS Photo

The visit aims to tighten co-operation between Iran and Viet Nam. During the trip, the two sides will compare notes on measures to boost bilateral collaboration in trade, investment, tourism and agriculture.

They will also discuss regional and international issues of shared concern.

The two countries have seen progress in relations since diplomatic ties were established on August 4, 1973. Iran opened its embassy in Ha Noi in 1991, and the Vietnamese Embassy was established in Tehran in 1997.

In September 2009, the Viet Nam–Iran Friendship Association was founded, aiming to enhance the two peoples’ friendship and mutual understanding, along enhancing co-operation in economy, trade, science-technology, education-training, and culture.

With a population of over 80 million, Iran is a major Middle Eastern market for Viet Nam, which in turn is a gateway to ASEAN markets for Iran.

Viet Nam’s main exports to the Islamic Republic of Iran include aquatic products, rice, tea, coffee, pepper, cashew nuts, bamboo and rattan products, rubber and rubber products, plastic products, machinery, electronic components, and apparel.

Iran mostly ships petrochemical products, metal, wheat, and apparel and footwear materials to Viet Nam.

Despite considerable potential, the countries’ economic partnership remains modest. Bilateral trade reached US$106.7 million in 2015, including $77.2 million of Vietnamese exports. The figure was $54 million in the first half of 2016, including $35.3 million worth of shipments from Viet Nam.

Source: VNS