Iran's exports to Turkmenistan jumps
Iran has increased exports to Turkmenistan by ten folds over the past decade.
Iranian Trade Promotion Organization's official Abdolhamid Asadian said Iran exported $94 million goods to Turkmenistan in 2004, while the figure surged to $858 million last year, ISNA news agency reported.
He referred to construction materials and paining colors, as well as technical and engineering services as the main export items to Turkmenistan.
Trade between Iran and Turkmenistan amounted to $994.5 million in the previous Iranian calendar year, which ended on March 20, 2014, according to the Iran Customs Administration.
Iran exported $859.4 million worth of non-oil goods to
Turkmenistan and imported $135.08 million worth of non-oil goods
from Turkmenistan.
A recent report by the Trade Promotion Organization of Iran on
Iran-Turkmenistan trade relations shows that the two countries held
six cooperation meetings between 2001 and 2012.
The most important documents exchanged between the two countries were trade agreements on encouraging and supporting investment, agreements on avoidance of double taxation, and memorandum of understanding on business cooperation.
Iran is reportedly Turkmenistan's second largest trade partner after Russia.
The country exports machinery, construction materials, sedans, buses, food stuff, agricultural and petrochemical products, electrical products and home appliances to Turkmenistan, and imports natural gas, electricity, textiles and agricultural products from its northern neighbor.