Iran, Turkey seek to increase trade volume
Iranian Ambassador to Ankara Alireza Bigdeli said Iran and Turkey have set a target of nearly $16 billion in the volume of their bilateral trade transactions during the current Iranian calendar year (started March 21).
Bigdeli said the Iran-Turkey trade turnover stood at $1.2 billion in the first quarter of 2014 given the released monthly reports, adding that the figure would rise to $20 billion once a preferential trade agreement signed by the two countries is enforced, IRNA reported.
Iran and Turkey have signed a preferential trade agreement which could pave the way for a hike in the bilateral trade. The agreement was signed during Turkish Prime Minister Recep Tayyip Erdogan's visit to Tehran in January. At the time, Erdogan said the goal is to boost trade between the two neighbors to $30 billion by 2015.
The Iranian ambassador further stated that the incumbent Iranian administration plans to engage in talks with Turkish officials in order to set up a joint free trade zone in Salmas city near the border with Turkey in order to further increase economic interactions.
Earlier, Turkish Energy and Natural Resources Minister Taner Yildiz said Turkey is determined to boost the level of its bilateral trade volume with Iran.
He said Turkey imported $7.6 billion worth of Iranian natural gas and crude oil in 2013, which is a huge figure.
The figure, Yildiz further noted, included $4.5 billion worth of natural gas and $3.1 billion of crude oil.
Turkey seeks to raise the level of its trade transactions with Iran within a logical and legal framework, he pointed out.