Iran, Turkmenistan Ink MoU to Boost Mutual Cooperation

TEHRAN (Tasnim) – Iran and Turkmenistan, in a memorandum of understanding (MoU) signed by the two countries' foreign ministers, agreed to boost mutual cooperation in different economic fields.

Iran, Turkmenistan Ink MoU to Boost Mutual Cooperation

Iranian Foreign Minister Mohammad Javad Zarif and his Turkmen counterpart Rashid Meredov signed a 48-article MoU at the 13th meeting of Iran-Turkmenistan joint economic cooperation commission held in Ashgabat.

The MoU has asked for the expansion and further improvement of mutual cooperation in different fields, including transfer of electricity, exploration of oil and gas resources, activation of trade ties and closer ties between the two sides' chambers of commerce

Cooperation in agricultural fields, animal husbandry and the mechanism to use joint water resources were among other issues agreed by the two sides.

As regards cooperation on transit and transportations, the two sides underlined the necessity to construct Iran-Turkmenistan-Kazakhstan rail road. They also stressed closer cooperation in road, railroad, sea and air transportation.

Tehran has the largest volume of trade exchange with Turkmenistan after Russia.

The value of trade between Iran and Turkmenistan is estimated to be around $5bln a year, and Iranian and Turkmen officials have expressed the hope that the figure could reach $10bln in the coming years.

On August 5, Iran’s President Hassan Rouhani had also praised the close ties between Iran and Turkmenistan, and emphasized the need for further enhancement of bilateral relations between the two nations.

In a meeting with his Turkmen counterpart Gurbanguly Berdimuhamedow at the time, President Rouhani pointed to amicable relations between Tehran and Ashgabat, saying, “Bilateral relations in economic, political and cultural fields will further develop in the future.”

Meanwhile, the 10th session of Iran-Turkmenistan joint consular, border and customs commission wrapped up in Tehran on January 15 with a Memorandum of Understanding (MoU) between the two neighboring countries on consular and border cooperation.

The MoU was signed by Iranian Deputy Foreign Minister for Consular, Parliamentary and Iranian Expatriate Affairs Hassan Qashqavi and Turkmen Deputy Foreign Minister Vafa Hajiyev, who co-chaired the commission.

During the two-day event, the Iranian and Turkmen officials studied ways for further expanding bilateral interactions.

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