Iran, Turkey plan to triple trade volume to $30bn

Iran announces a joint Tehran – Ankara plan to triple bilateral
annual trade volume from the current $10 billion to $30 billion in the

Minister of the Economy Shamseddin Hosseini made the remark after
the Iranian and Turkish officials signed an agreement to increase
Iran-Turkey customs cooperation.

The determination of the two neighboring states in aiming for a $30
billion trade exchange demonstrates that “Iran-Turkey relations are at
the highest level,” he added.

Hosseini said that the two sides have adopted many measures to
facilitate the targeted trade level, which include the expansion of
customs cooperation.

Iran and Turkey have also decided to ease trade barriers and begin
using their national currencies in bilateral exchanges in a bid to boost

“We should conduct some of our trade in Iranian rial and the Turkish
lira through establishing joint banks,” Iran’s First Vice President
Mohammad-Reza Rahimi said in April 2009.

“The level of trade ties between Iran and Turkey stands at about $11
billion, which is not satisfactory,” he said.

“Following a proposal from Iran, the level of trade between Iran and
Turkey will increase to $30 billion within the next 4 to 5 years,” IRNA
quoted Rahimi as saying.



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