Iran, Turkey sign memorandum of understanding on preferential trade

Photo: Iran, Turkey sign memorandum of understanding on preferential trade / Iran

Baku, Azerbaijan, Jan. 29

By Umid Niayesh, Saeed Isayev - Trend:

Iran and Turkey signed four memorandums of understanding (MoU) on mutual cooperation, Iran`s IRINN TV reported on Jan. 29.

Turkish Prime Minister Recep Tayyip Erdogan and Iran's First Vice President Eshaq Jahangiri signed a MoU on Supreme Council of Cooperation.

The other memorandums were signed on the sidelines of the Erdogan-Jahangiri meeting.

Jahangiri said at a joint press conference with Erdogan that Iran-Turkey mutual relations are developing. He added that the two countries intend to increase the trade volume to $30 billion in 2015.

Jahangiri underlined that Iran and Turkey have reached constructive agreements in mutual issues, in particular, economic cooperation. He also expressed hope that the agreement on exporting gas to Turkey to be finalized.

A MoU on preferential trade was signed by Iranian industry minister, Mohammad Reza Nematzadeh and Turkish Economy Minister Nihat Zeybekchi.

The MoU signed was signed after officials of both countries held several negotiations in recent years.

The fifth document of joint trade committee between the two countries was another MoU which has been signed by the two ministers.

The official Islamic Republic News Agency and Turkish state-run Anadolu News Agency also signed a MoU on mutual cooperation.

Erdogan, who heads the country's official delegation, arrived in Iran on Jan. 28. The Turkish PM is expected to meet with Iranian President Hassan Rouhani and Supreme Leader Ayatollah Ali Khamenei on Jan. 29.

Before the trip to Iran, Erdogan said that Turkey and Iran are establishing the Supreme Cooperation Council.

He also stressed that the Council will undoubtedly have a positive impact on bilateral relations between Turkey and Iran.

"The trade turnover between Turkey and Iran reached $ 13.5 billion in 2013," Erdogan added.

He stressed that some $ 7.6 billion of the amount fell to the oil and gas exports of Iran, while Turkey's exports to Iran amounted to little more than $4 billion.

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