Iran, Turkey Trade Volume Can Reach $30bln: Official
TEHRAN (Tasnim) – Deputy Head of Turkey’s Chamber of Commerce Cuneyt Golet said on Wednesday that Tehran and Ankara have the potential to increase the volume of their bilateral trade to USD $30 billion.
The volume of trade between the two countries could reach $30 billion within a short period, Golet said, Sputnik reported.
The turnover of trade between Iran and Turkey during the first three months of 2016 dropped by 28 percent compared to the same period last year, which stood at $2.08 billion.
Golet, who was on a visit to Iran’s western province of Kermanshah, added that Ankara is willing to boost it cooperation with the province in the field of petrochemical industry.
Back in April, Iran and Turkey signed eight memorandums of understanding (MoUs) to strengthen bilateral cooperation in various areas.
The cooperation documents were signed in a ceremony in Ankara on April 16, attended by Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyib Erdogan.
The documents covered a range of fields, including higher education, social security, plant maintenance services and standardization.
Iran and Turkey have ramped up efforts in recent months to boost bilateral trade after implementation of the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).
The deal took effect on January 16, terminating all nuclear-related sanctions on Iran.
