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Iran, Turkmenistan enjoy potential for strong economic relations

Business Materials 22 September 2017 15:22 (UTC +04:00)
Iran and Turkmenistan continue to cooperate in a number of joint projects and enjoy a high level of bilateral trade. Their trade in gas, oil, and other commodities illustrates the potential for strong economic relations in future.

Baku, Azerbaijan, Sept. 22

By Ali Mustafayev – Trend:

Iran and Turkmenistan continue to cooperate in a number of joint projects and enjoy a high level of bilateral trade. Their trade in gas, oil, and other commodities illustrates the potential for strong economic relations in future.

“The cooperation between Iran and Turkmenistan will definitely grow further,” Sohail Mahmood, an independent global affairs analyst, told Trend.

“The two countries are partners in joint oil and gas projects, including construction of a pipeline connecting Kazakhstan and Turkmenistan with the Persian Gulf, which will give Ashgabat access to the Asian markets.”

He added that Turkmens and Iranians have a long history of relations, being closely related nations. Iran is also Turkmenistan's largest trading partner after Russia.

“More than 100 industrial facilities were built in Turkmenistan with Iranian participation. The Kazakhstan-Turkmenistan-Iran railway, which was built in 2014, allows increasing cargo transit and passenger traffic, reducing transportation costs, saving travel time, and bringing economic growth to the region,” said Mahmood.

The current trade turnover between the countries values at $9.3 billion, which is almost 10 percent of Turkmenistan’s general trade turnover.

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