TEHRAN- A Vietnamese trade delegation arrived in Tehran on Tuesday, October 6, and is scheduled to stay until October 18. During their stay, the delegation has a packed schedule of business activities, including visits to various regions of Iran, assessments of cooperation opportunities, and trade meetings.
In this connection, Tehran Times conducted an exclusive interview with the Delegation Head, Mr. Nguyen Dang Dinh, the full text of which follows:
What motivated you to join this business mission to Iran, and what specific opportunities do you hope to explore during the visit?
We joined this mission to expand our commercial reach in the Middle East and engage directly with Iran’s sizable market. The Vietnamese business community aims 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 to support our domestic manufacturing.
Given the current sanctions environment and banking restrictions, what are your main concerns about doing business with Iran, and what practical payment or financial mechanisms do you think could help overcome these barriers?
The primary operational concern is the absence of direct, streamlined cross-border banking linkages. To facilitate smooth trade in civilian and consumer goods, we encourage trade agencies and financial institutions to support flexible settlement frameworks, such as bilateral barter trade mechanisms or compliant local-currency clearing solutions that lower exchange costs and transaction friction.
Official Vietnam–Iran trade is around $170 million, but much of the real trade may pass through third countries. How do you assess the actual potential of bilateral trade, and what can be done to make these flows more direct and transparent?
The real economic potential between Vietnam and Iran is significantly higher than current figures suggest, as our economic structures are complementary rather than competitive. To make trade flows more direct and transparent, businesses on both sides need greater access to market intelligence, active participation in trade expos, and official business-matching platforms that reduce reliance on third-country intermediaries.
Which sectors do you believe offer the most realistic and immediate opportunities for Vietnam–Iran cooperation, and why? For example: agriculture, food processing, mining, logistics, technology, healthcare, or petrochemicals.
The most realistic sectors for immediate commercial cooperation include:
• Agriculture & Food Processing: Exporting Vietnamese coffee, seafood, and spices; importing Iranian dried fruits, saffron, and nuts.
• Industrial Raw Materials: Sourcing specialty chemicals, construction supplies, and polymers from Iran.
• Healthcare & Pharmaceuticals: Exploring trade in medical equipment, active ingredients, and biotechnology products.
From your experience, what are the biggest obstacles in logistics, transportation, quality standards, and verifying business partners between the two countries, and what solutions would you recommend?
Key supply chain bottlenecks involve long transit times, high freight costs, and differing quality compliance frameworks (such as Halal certification). Practical solutions include establishing direct links with regional logistics providers and fostering mutual recognition between regulatory bodies to standardize quality inspections and expedite customs clearance.
Vietnam has 17 free trade agreements and access to 60 economies. How can Iranian and Vietnamese companies work together—through joint ventures, Vietnam-based production, or other models—to manage sanctions risks and reach regional and global markets?
Vietnam’s extensive network of 17 FTAs offers preferential access to major global markets. Iranian enterprises can collaborate with Vietnamese companies through joint ventures or local processing facilities. By adding value to raw materials inside Vietnam, both sides can jointly access ASEAN and wider international consumer markets under compliant commercial arrangements.
What concrete outcomes would make this mission successful for you, and what follow-up steps should governments, chambers of commerce, and the private sector take to turn these discussions into long-term trade and investment partnerships?
For the business community, a successful mission means establishing vetted business leads, securing initial commercial contracts, and signing MOUs for non-sanctioned goods. Moving forward, chambers of commerce and trade promotion agencies should maintain direct communication lines and organize regular exchange delegations to turn these initial discussions into long-term trade partnerships.
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