News ID: 261715
Published: 0343 GMT November 17, 2019

Iran, Turkey to develop trade corridors: Deputy minister

Iran, Turkey to develop trade corridors: Deputy minister

Rural and agricultural cooperatives of Iran and Turkey could enhance their trade transactions by the development of corridors, said the deputy agriculture minister.

Hossein Shirzad, who is also the head of the Central Organization for Rural Cooperatives of Iran (CORC) said in a meeting with National Cooperative Union of Turkey (NCUT) that both sides could conduct trade through their agent banks, corc.ir reported.

Talking on absolute advantages of Iran in saffron production, the official explained that Iran saffron is an uncompetitive product since it produces over 90 percent of global saffron.

Therefore, co-branding partnership on saffron, could not only facilitate a lucrative business for both countries but also would help cut the monopoly of saffron market of some countries that sell Iranian saffron by illegal exporting and re-packing, he said.

Referring to the membership of CORC and NCUT in the International Cooperative Alliance (ICA), Shirzad said that Iran agro-cooperatives are capable of supplying many agro-crops like cumin and barberry needed by the industrial sector of Turkey.

From a logistical viewpoint, Iran could be the safe corridor for transporting Turkey's product to the Middle Eastern countries, he said.

   
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