Iran, Turkey establish committee for implementation of preferential trade memorandum

Baku, Azerbaijan, Sept. 3

By Elnur Baghishov – Trend:

A committee has been established for the implementation of a preferential trade memorandum between Iran and Turkey, Head of Trade Promotion Organization of Iran (TPO) Hamid Zadboum said at a meeting with Deputy Undersecretary of the Turkish Ministry of Economy Husnu Dilemre, Trend reports referring to the organization’s website.

According to him, Iran and Turkey can benefit from each other's economic development, given the available resources and potential.

Zadboum added that the trade between Iran and Turkey amounted to more than $53 billion over the past five years.

"By the decision of the presidents of the two countries, this trade turnover should exceed $150 billion in the next five years," he said.

During the meeting, Husnu Dilemre added that preferential trade is one of the ways to increase trade turnover between the two countries and create favorable and appealing conditions for business activities.

Dilemre added that technical committees for this purpose should be set up and discussions should be held soon.