TEHRAN- Iranian Minister of Industry Mohammadreza Nematzadeh and the visiting Vietnamese Minister of Agriculture and Rural Development (MARD) Nguyen Xuan Cuong signed an MOU on economic cooperation on Sunday, IRNA reported.

As reported, the MOU was inked on the sidelines of 9th meeting of Iran-Vietnam Joint Economic Committee in the building of Iran’s Trade Promotion Organization (TPO).

Addressing the event, Nematzadeh expressed satisfaction that the joint committee has resumed operation after four years, calling for bilateral trade volume to reach $2 billion.

The Vietnamese minister, for his part, underlined the necessity of tightening economic ties between the two countries and vowed that his government will put reaching two-billion-dollar trade with Iran on its agenda.

“Iranian and Vietnamese trade and economic officials, in four working and technical groups, came to some agreements yesterday and we seek to put their agreements on operation in the framework of the Joint Economic Committee,” Cuong said. 

“Vietnam is experiencing its economic growth era and is in need of Iranian construction materials, oil, and energy,” he added.

Vietnam and Iran established diplomatic relations in 1973. The relationship was strengthened with the establishment of the Vietnam-Iran Friendship Association in September 2009.

HJ/MA