Iran’s President Hassan Rouhani says Tehran and Hanoi have decided to boost the volume of their trade exchange to $2bn in five years time.

The Iranian president made the remarks in a press conference with his visiting Vietnamese counterpart Truong Tan Sang in Tehran on Monday.

Rouhani was speaking after a meeting with the Vietnamese president in Tehran.

Earlier in the day, Rouhani extended an official welcome to Sang, who is in Tehran for bilateral talks.

During the ceremony, national anthems of the two countries were played and the two presidents reviewed the guard of honor.

The Vietnamese president arrived in Tehran on Sunday for an official three-day visit at the invitation of his Iranian counterpart.

Heading a politico-economic delegation, Tan Sang is scheduled to discuss ways with Iranian officials to expand bilateral ties between Tehran and Hanoi particularly in the fields of economy, banking, and energy.

Vietnam and Iran established relations in 1973 and since then the two countries have increased political and economic cooperation through exchange of visits by senior officials from both sides.

Iran opened an embassy in Hanoi in 1991 and Vietnam opened its embassy in Tehran in 1997.

Trade transactions between Iran and Vietnam reached USD 300 million in 2013 from USD 80 million in 2010.

By Press TV