Mr Dung reiterated Vietnam’s consistent policy toward Iran while receiving Iranian Minister of Commerce Mehdi Ghazafari in Hanoi on December 22.

He welcomed Minister Ghazafari’s visit and said its results will help strengthen the friendly ties between the two countries in socio-economic development.

He said that the Vietnamese government supports bilateral negotiation efforts to draw up a 10-year cooperation programme between the two countries, especially in agro-forestry and fisheries, and maritime transport. He proposed that both countries conduct negotiations as soon as possible to sign a bilateral free trade agreement.

Mr Dung thanked Iran for creating conditions for the Vietnam National Oil and Gas Group to implement petroleum projects in Iran and hoped that the Islamic nation would support the group’s bid to expand investment projects in its territories.

Vietnam welcomes Iranian economic groups and businesses to invest in the country, said Mr Dung.

He noted that bilateral trade last year increased by more than a double, but it has yet to match the two countries’ potential, and said that the two sides should discuss measures to fully tap it.

Minister Ghazafari said his visit’s purpose is to seek opportunities for mutually beneficial cooperation. He proposed that the Vietnamese government create favourable conditions for relevant agencies of both countries to negotiate and sign an agreement on investment protection to facilitate cooperation.

The Minister affirmed that the Iranian government will help the Vietnam National Oil and Gas Group carry out oil and gas exploration and exploitation projects in the county.