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Iran intends to develop trade with Vietnam

Business Materials 9 August 2021 14:15 (UTC +04:00)
Iran intends to develop trade with Vietnam

BAKU, Azerbaijan, Aug. 9

By Elnur Baghishov – Trend:

Given the great potential of the Iranian and Vietnamese markets, it is possible to increase trade turnover between the two countries through the efforts of both sides, an official of Trade Promotion Organization of Iran (TPOI) Mohsen Rezaeepour said, Trend reports citing the organization.

The official said that the bulk of Iran's exports to Vietnam were accounted for petrochemicals and oil products for many years.

“In recent years, the range of goods exported by Iran to Vietnam has increased, as products such as dates, figs, saffron, pistachios and raisins have been exported to this country,” he added.

Rezaeepour noted that the value of Iran's trade with Vietnam amounted to $93 million over the last Iranian year (from March 20, 2020 through March 20, 2021). Of this, $61 million accounted for Iran's exports and about $32 million for imports.

According to him, however, the value of Iran's exports to Vietnam amounted to $500 million 4 years ago (from March 21, 2017 through March 20, 2018). The main reason for the decline in Iran's exports to Vietnam was the US sanctions against Iran.

According to the statistics of the TPOI, Iran's trade turnover with Vietnam amounted to 40,000 tons worth $30.9 million during the first four months of the current Iranian year (from March 21 through July 22). Of this, 35,600 tons worth $19.8 million were accounted for Iran's exports and 4,380 tons worth $11.1 million for imports.

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