Turkey and Iran to triple trade volume to USD 30 billion in two years

Today’s Zaman - Tehran aims to raise trade volume between Turkey and Iran to USD 30 billion from USD 10 billion over the next two years, while their long-term target is to increase this figure to USD 50 billion, said Mohammad Nahavandian, Head of the Iranian Chamber of Commerce, Industries & Mines (ICCIM), calling on businessmen of both countries to take advantage of the current favorable political environment. Commenting on the relations between Turkey and Iran, Nahavandian stated that Iranian President Mahmoud Ahmadinejad’s visit to Turkey with a large delegation last week to attend the 25th session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of the Islamic Conference (OIC) is a sign of the importance Iran attaches to Turkey, as well as the reliance it has on the country. Nahavandian, noting that political and economic relations between the two countries have been enhanced, added, “We have full confidence in Turkey in economic, commercial and international relations, and concrete steps in line with this confidence will be taken in the near future.” Nahavandian noted that they have set their goal to raise foreign trade volume with Turkey to its actual potential, explaining that it will initially increase from the current level of USD 10 billion to USD 30 billion over the next two years before rising to USD 50 billon over time. Underlining that they also plan to ensure active cooperation in the banking sector, Nahavandian remarked that this will create a suitable environment for the expansion of bilateral trade between the two countries. Iran also wants to boost cooperation with Turkey in transportation, he said, adding that joint companies might be established by the two countries in this sector. The Iranian private sector is determined to improve cooperation with the Turkish private sector in every field, Nahavandian stated. He enumerated the possible sectors for mutual investments as energy, manufacturing, electronics, textiles and tourism. “Currently, our political relations with Turkey are at their best level, why not have the same with economic ties, too?”, the ICCIM head remarked, calling on businessmen to make use of this favorable environment. “Work is under way to enable trade with domestic currencies between the two countries, he said.