HANOI (CBI PR dept) - Iran-Vietnam economic and trade relations increase fivefold to $2b

CBI Governor made this remark during his trip to South East Asia accompanying President Rouhani and said: "The issue of proper banking relations has a special importance in President Rouhani’s negotiations with his Vietnamese counterpart. The capacity for economic cooperation between Iran and Vietnam is very high; however, due to the lack of banking relations, it has never reached its desired level. Accordingly, it is anticipated that with improving the current level of banking relations, Iran-Vietnam trade and economic ties would increase five times and reach $2b.
The Governor of the Central Bank of Iran believes that interconnecting banking channels is the prerequisite for realization of this goal. "Previously an MoU was signed by the deputy governors of the two central banks of which the implementation was stressed on during recent negotiations. One of the main clauses of this MoU is the opening of joint accounts in the two CBs in order to facilitate settling trades." Seif added.
He announced that Iranian and Vietnamese Central Banks are definite in supporting ties between commercial banks of the two countries and said: "In addition to opening joint accounts, it was decided that CBs of the two countries support correspondence relations between their commercial banks."
"The proposal to connect the bank card switches between the two countries was another topic on the agenda. Vietnam's central bank welcomed the idea, and it is anticipated that this idea will be fulfilled in near future. This connection will have a significant role in development of tourism and will increase tourism exchanges between the two nations." He added
The head of money and credit council also said: “Both sides agreed on creating a joint Bank with a joint venture. In order to guarantee the agreements, the two nations accord to form a Joint Committee which holds a meeting periodically and once a year. Accordingly, the first meeting will be hosted by the CBI within three months. This meeting will be held regarding the implementation of the negotiations and agreements between the two nations.