Turkey to invest 15 million euros in Iran's textile industry
Baku, Azerbaijan, Jan. 27
By Rahim Zamanov - Trend:
Turkish businessmen plan to invest 15 million euros in Iran's textile industry.
Turkish investors and Iranian businessmen have agreed to launch a joint textile unit in Iran's central city of Delijan.
Iran and Turkey's trade volume currently stands at around $30 billion.
The figure is scheduled to reach $100 billion in nine years.
Iranian Oil Minister Bijan Namdar Zangane held a meeting with Turkish Prime Minister Recep Tayyip Erdogan in Anakra on Jan. 21, the Iranian IRIB News Agency reported.
"During the meeting we reached some good agreements to boost bilateral trade ties," Zanganeh added.
"Each country will form a group to continue the negotiations, so that we can finalize the agreements and sign the memorandums of understanding during the Turkish prime minister's visit to Tehran," he added.
Iranian oil minister also held a meeting with Turkish Energy and Natural Resources Minister Taner Yıldız.
The Iran-Turkey trade declined to 16 billion dollars in 2013 from 22 billion dollars in 2012.
Iran and Turkey have set a long- term target of $100 billion for annual trade transactions.
The two countries have always stressed that their short-term annual trade target should be about 30-35 billion dollars.