Iran-Turkey trade turnover to exceed $15 billion

Business Materials 26 July 2011 21:49 (UTC +04:00)

Azerbaijan , Baku, July 26 /Trend/

The volume of the Iran-Turkey business transaction will exceed $15 billion by late 2011, Fars News Agency quoted Iran's Ambassador to Turkey Bahman Hosseinpour as saying.

"The volume of trade between two countries reached $11 billion last solar year (ended on March 20, 2011)," he said.

The trade turnover between Iran and Turkey for the first three months of current year (started on March 20, 2011) increased by 74 percent, he added.

He stressed that if we continue the current conditions, the volume of trade between Iran and Turkey will exceed $15 billion.

The Iranian ambassador stressed that two countries cooperate in export of Iran's natural gas, electricity and oil while Turkey can transfer Iran's gas to European countries and Iran supplies electricity to Turkey alongside Syria and Lebanon.