Niloofar Assadi, the caretaker of the international affairs of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), has stressed the need for enhancement of barter trade as a way for increasing bilateral trade between Iran and Vietnam.
Assadi made the remarks in a meeting in Tehran with Head of the Trade Office of the Vietnamese Embassy in Tehran Nguyen Thanh Long where the two sides explored avenues for promotion of bilateral trade and removing the obstacles on this way.
Exercising barter trade requires a specific mechanism, she said, adding that such a mechanism has to be defined by trade promotion organizations and central banks of both countries.
Assadi called on the Vietnamese side to propose a list of items for barter trade with Iran.
She said that private sector actors of Iran and Vietnam can engage in a bilateral or trilateral barter trade system in which two companies supply each other with the commodities needed by one another or supply the needs of a third company.
Elaborating on the scheme, she said that, for instance, an Iranian company supplies a Vietnamese company with its needs and the Vietnamese companies provides another Iranian companies with its required commodities, while the second Iranian company pays the costs to the first Iranian company on behalf of the Vietnamese company.
The Vietnamese side, said in the meantime that his country attaches special significance to trade with Iran although this trade has to take place amid the Western sanctions on Tehran.
Long said that experiences of trade with other countries, particularly Iran’s neighboring countries, can prove helpful in finding solutions and devising mechanisms for trade with Iran.