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Iranian-Turkish trade turnover can exceed $30B, says MP

Business Materials 7 August 2015 19:15 (UTC +04:00)
Iran and Turkey have strategic relations and these countries are important for each other.
Iranian-Turkish trade turnover can exceed $30B, says MP

Tehran, Iran, Aug. 7

By Temkin Jafarov - Trend:

Iran and Turkey have strategic relations and these countries are important for each other, a member of Iran-Turkey Interparliamentary friendship group told Trend August 7.

Mohammad Alipour, member of Iran-Turkey Interparliamentary friendship group and economic commission of Iranian parliament, was commenting on the upcoming visit of the country's Foreign Minister Mohammad Javad Zarif to Turkey.

Turkey's Foreign Minister Mevlut Cavusoglu said that during the visit, the sides will discuss the regional problems and combating the "Islamic State" terrorist organization, Iranian media reported citing Turkish media outlets.

The relations between Iran and Turkey have a long history, according to Alipour.

"The ties should develop both in political and economic spheres," said the MP, adding that the relations in the sphere of security are of special importance.

He added that the economies of the two countries complement each other.

"The two countries can help each other in transiting goods of other states, increasing the foreign trade turnover, developing the sphere of technology," said Alipour.

The MP believes that the volume of bilateral trade turnover between Iran and Turkey can exceed $30 billion.

Alipour said the economies of the two countries have great potential and the reciprocal visits will to some extent resolve the existing problems.

Turkey is among the largest trade partners of Iran.

Iran imported $3.822 billion worth products from Turkey in the last Iranian calendar year (year in Iran starts on March 21). Turkey ranks fourth for the volume of product import to Iran.

Iran exported $2.15 billion worth non-oil products to Turkey during the reporting period.

Meanwhile, Iran exports around 100,000 barrels of crude oil and 27 million cubic meters of gas to Turkey per year.

Moreover, Turkey imported 2.4 billion kilowatt hours of electricity from Iran in 2014. The trade turnover between the two countries hit $14 billion in 2014.

This figure was equal to $1 billion in 2000 and the two countries' officials were stating that it can reach $30-$35 billion in subsequent years.

Alipour said that ensuing the security and stability in the region depends on cooperation and mutual understanding between Iran, Turkey, Iraq and Syria.

Edited by CN
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