Tehran and Ankara are working on a plan to use their national currencies in their trade exchanges, Iranian Ambassador to Turkey Alireza Bigdeli said Sunday, Fars News reported.
"After the implementation of the preferential trade agreement and settlement of transportation problems between Iran and Turkey, now the most important economic agenda of the two countries is a mutual monetary contract that will allow use of their national currencies in (bilateral) trade and economic exchanges," Bigdeli wrote on his webpage on Sunday.
"Trade and economic exchanges are expected to be considerably facilitated once this Iran-Turkey monetary contract comes into effect," he added.
Iran and Turkey have been pursuing increasing widening of their ties in various fields in the last two decades. Iran is a main energy supplier to Turkey and Ankara has made huge investments in Iran.
Iran is a main destination of Turkish goods and Turkey is among the top destinations of Iranian tourists and traders.
The two states plan to multiply their trade transactions in the next few years.
Iranian Parliament Speaker Ali Larijani and Turkish President Recep Tayyip Erdogan in a meeting in Istanbul on Wednesday called for the further expansion of bilateral ties, and underlined that the two countries could easily increase their trade balance to $30 billion in the near future.
During the meeting in the Turkish city, Larijani and Erdogan underlined the need for increasing mutual cooperation in the energy, transport, trade and industrial sectors.
Referring to the Iran-Turkey commonalities, the two top officials reiterated that the 30-billion-dollar trade balance is possible.