Iran, Turkey Reiterate Enhanced Economic Ties

TEHRAN (Tasnim) – Iran’s Ambassador to Turkey Ali Reza Bigdeli and Turkish minister of customs and trade stressed further expansion of trade ties between Tehran and Ankara.

Iran, Turkey Reiterate Enhanced Economic Ties

Bigdeli said in a meeting with Turkish Customs and Trade Minister Hayati Yazici that it is possible for the two neighboring countries to increase their trade exchange volume to $30bln a year.

The Iranian envoy further noted that the economic objective could be achieved through “expansion of mutual cooperation.”

Yazici, for his part, emphasized the need for a higher volume of trade between the two countries, saying, “Iran-Turkey trade totaled $22 billion in 2012.”

The Turkish minister also expressed Ankara’s determination to raise the trade exchange volume to $30bln.

Iran and Turkey have sharply increased the level of trade ties over the last years.In 2000, the value of bilateral trade stood at USD one billion, but it exceeded USD 10bln in 2010. It rose by 50 precent the following year and reached USD 22bln in 2012.

Energy has the largest share in the trade between the two countries, as in 2012 it comprised over USD 12bln of the overall trade value.

Iran, which has the second-largest gas reserves after Russia,is also Turkey's second gas supplier after Russia.

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