Minister: Iran, Bangladesh can boost bilateral trade up to $500 million
Azerbaijan, Baku, May.17/ Trend R.Zamanov
Iranian Minister of Industry, Mine and Trade Mehdi Ghazanfari said that Iran and Bangladesh can boost bilateral trade up to $500 million.
That figure is five times more than the current amount, the IRNA News Agency reported.
The Iranian minister made the remarks during the two countries' fifth joint economic commission.
Previously an Bangladesh, Iranian delegation had visited Hanoi, in order to attend the Iran-Vietnam 8th Joint Economic Commission.
The two countries signed a memorandum of understanding to expand bilateral ties in Hanoi.
Iranian Minister of Industry, Mine and Trade Mehdi Ghazanfari and Vietnamese Minister of Agriculture and Rural Development Cao Duc Phat signed the documents.
Based on the agreement, the two countries' bilateral trade is projected to reach 500 million dollars in the next five years.
Iran and Vietnam's bilateral trade value stood at 204 million dollars in the previous year which shows a 400 per cent increase compared to 2011.
Iran's exports to Vietnam account for 190 million dollars of the aforementioned amount.
Pistachio, petrochemical products, fish, tar and oil products were the main exported items of Iran to Vietnam during the same period.
Tehran also imported tea, cell phones, computer components, printing and packing machinery from Hanoi.