Vietnam offers gateway for Iranian goods into Southeast Asia, officials say
Iran-Vietnam trade remains below potential despite over five decades of diplomatic ties, officials say, with construction materials, petrochemicals, agri-tech, and coffee being cited as key cooperation areas.
At the quarterly gathering of the Iran-Foreign Joint Investment Association held at the Iran Chamber of Commerce, Industries, Mines and Agriculture on Sunday, Le Ba Ngoc, the deputy head of mission and representative of Vietnam’s Ministry of Industry and Trade in Iran, declared, “Vietnam is ready to serve as a gateway for Iranian products and technologies into Southeast Asian markets.”
Ngoc, alongside Vietnamese diplomatic and trade officials, highlighted the longstanding diplomatic relations between the two countries and Iran’s capabilities in petrochemicals, agriculture, and emerging technologies. They reaffirmed Vietnam’s willingness to facilitate Iranian entry into the broader ASEAN economic region.
The meeting emphasized that the Vietnamese Embassy and the Commercial Office of Vietnam’s Ministry of Industry and Trade in Tehran stand ready to provide necessary support and market information to Iranian companies seeking to enter the Vietnamese market.
In closing, members of the Iran-Foreign Joint Investment Association raised questions and shared views, and it was agreed that practical cooperation between the Association and the Vietnamese Embassy would be pursued to ease the entry of Iranian firms into Vietnam. The stated goal of this collaboration is to increase Iran’s market share in Vietnam and strengthen sustainable economic ties between the two nations.
Structural trade challenges
Hadi Shahpar, a member of the Association’s investment committee, noted, “One of the weaknesses of Iran’s foreign trade is the episodic nature of economic relations. The Joint Investment Association seeks, based on regional agreements and economic blocs, to establish long-term and structured partnerships.”
He added that ASEAN countries—including Vietnam, Malaysia, Indonesia, Thailand, and Singapore — are among the world’s key economic hubs. “Vietnam can play a pivotal role as Iran’s gateway to Southeast Asia,” he said, pointing out that despite more than 50 years of diplomatic relations and Vietnam’s sustained economic growth, bilateral trade volumes remain disproportionate to existing potential.
Key current sectors of cooperation include construction materials, petrochemicals, technology, agriculture, and particularly coffee. Numerous opportunities exist to expand joint investment, officials said.
Meanwhile, Mehdi Azadvari, the chairman of the Iran-Foreign Joint Investment Association, outlined the body’s recent initiatives, “Cooperation with the Iran Financial Center, the World Business Organization, and several Iran-Vietnam and Iran-ASEAN joint chambers of commerce — with a focus on Iranian-foreign joint investment — is now on the agenda.”
He noted that in the past three months, the association’s new board has signed memoranda of understanding with domestic and foreign institutions, with the primary aim of delivering effective services to members.