TEHRAN- A Vietnamese trade delegation arrived in Tehran on Tuesday, October 6, and is scheduled to remain until October 18. Led by Mr. Nguyen Dang Dinh, who is visiting Iran for the third time, the delegation has a packed agenda: visits to various regions, assessments of cooperation opportunities, and trade meetings. In an exclusive interview with the Tehran Times, Dinh said the mission aims to expand Vietnam’s commercial reach in the Middle East and engage directly with Iran’s sizable market. Vietnamese businesses seek to boost direct exports of agricultural products—coffee, cashews, pepper, rice—and consumer goods, while exploring imports of high-quality Iranian industrial inputs and raw materials.
On Friday, October 16, in Tehran, a memorandum of understanding was signed between DHT Mining Joint Stock Company, represented by Mr. Nguyen Dang Dinh, and Petro Pasargad Hormozgan Company, represented by Mr. Mostafa Hajihosseini. The MOU covers the provision and distribution of bitumen of POH origin in Vietnam.
The same day, the Vietnamese delegation visited the specialized exhibition for medical, dental, laboratory, and pharmaceutical equipment, “Iran Med 2026,” at the Shahr-e Aftab International Exhibition Center. The delegation held intensive B2B negotiations with Iranian counterparts. During its stay, the delegation has also visited various cities, including Bandar Abbas, and Shiraz Expo.
Dinh identified banking restrictions as the main operational concern. He called for flexible settlement frameworks, such as bilateral barter trade or compliant local-currency clearing, to reduce exchange costs and transaction friction. Official Vietnam–Iran trade is around $170 million, but much of the real trade may pass through third countries. He said actual potential is significantly higher because the two economies are complementary. To make flows more direct and transparent, businesses need market intelligence, trade expos, and official business-matching platforms.
The most realistic sectors for immediate cooperation, he said, include agriculture and food processing; industrial raw materials such as specialty chemicals, construction supplies, and polymers; and healthcare and pharmaceuticals, including medical equipment, active ingredients, and biotechnology. Key supply-chain bottlenecks include long transit times, high freight costs, and differing quality-compliance frameworks such as Halal certification. He recommended direct links with regional logistics providers and mutual recognition between regulators to standardize inspections and expedite customs clearance.
Vietnam’s 17 free trade agreements and access to 60 economies offer a platform for joint ventures or Vietnam-based production. Iranian firms can add value inside Vietnam and jointly access ASEAN and wider international markets under compliant arrangements. For the business community, a successful mission means vetted leads, initial contracts, and MOUs for non-sanctioned goods. Chambers of commerce and trade promotion agencies should maintain direct communication and organize regular exchange delegations to turn these discussions into long-term trade and investment partnerships.
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