News ID: 203745
Published: 0402 GMT November 04, 2017

Iran-Turkey trade up

Iran-Turkey trade up

Trade exchanges between Iran and Turkey in the first nine months of 2017 grew by 14 percent compared to the figure for the same period last year, according to statistics released by the Turkish government.

Turkish Statistical Institute further stated that a large increase in the value of imports from Iran in the first three quarters of 2017 has raised the total trade exchanges between the two neighbors compared to the amount for the previous year, Tasnim News Agency reported.

The figures show that Turkey's imports from Iran in the nine-month period stood at above $5.8 billion, showing a 75 percent increase compared to the figure for January-September 2016.

Total trade exchanges between Tehran and Ankara during the period exceeded $8.1 billion, according to the figures. Oil and gas made up Turkey's main imports from Iran.

Iran ranks seventeenth in the list of Turkey's most frequented export destination in the period.

Iran and Turkey have set a $30-billion annual trade target and signed several agreements to enhance cooperation in various areas.

In early October, Turkish President Recep Tayyip Erdogan visited Iran to attend the fourth round of strategic meetings between Iran and Turkey.

In a press release after the official visit, the Iranian and Turkish presidents reaffirmed the goal of increasing the annual trade to $30 billion.

On October 22, Iranian First Vice President Es'haq Jahangiri and Erdogan stressed that through comprehensive planning by the two countries, the target of $30-billion bilateral trade will be achieved soon.

In a meeting with Erdogan in Ankara, Jahangiri said Iran and Turkey as two large countries in the region enjoy many capabilities and potentials that should be used to strengthen relations underlining that his country is determined to expand ties with Turkey in all areas.

He called for broadening cooperation between the private sectors of the two countries.

Jahangiri voiced Iran's readiness to meet the energy needs of its neighbor and said: "We are prepared to boost oil and gas exports to Turkey."

Erdogan stressed Ankara's strong will to expand ties with Tehran in all fields and said: "By removing the barriers, we should benefit from each other's capabilities and experiences to boost relations."

He also said that his country is willing to buy more oil from Iran.

The Turkish president further called for expanded tourism cooperation between Turkey and Iran.

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