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Iran, Vietnam central banks in MoU

State Bank of Vietnam and the Central Bank of Iran have entered into a MoU to facilitate trade between the two countries. Vietnam and Iran are expecting to have trade relations worth billions of dollars as a result of fruitful talks between the two countries recently. The documents relating to the MoU were signed at a bilateral business forum in Tehran, where Vietnamese president Truong Tan Sang was present. Speaking at the forum, Iran’s minister of Industries and Business Mohammad Reza Nematzadeh said Vietnam-Iran bilateral trade turnover is expected to grow to $2 billion in five years in view of the recent abolition of trade embargoes on Iran. The deputy governor of the State Bank of Vietnam Nguyen Dong Tien said the MoU served as the basis for enhanced exchange of information, training of officials, and discussions on methods of interbank payment to support economic, investment, and commercial relations between the two nations.

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