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Iran plans to launch joint credit line with Turkey

Business Materials 13 November 2019 19:04 (UTC +04:00)
Iran plans to launch joint credit line with Turkey

TEHRAN, Iran, Nov.13

Trend:

Iran seeks to form joint credit line with Turkey via banks to expand economic transactions and establish special trade corridor, said Managing Director of Central Organization Rural Cooperatives of Iran.

"Iran can use the experience of Turkey's cooperatives, since our agricultural sector is currently production oriented, while it needs to transform to market oriented," said Hossien Shirzad, Trend reports citing ILNA.

"Launching joint brands with Turkey for saffron processing and packaging is good trade solution that would also prevent illegal repackaging of Iran saffron," the managing director said during his meeting with officials of Turkey's farmers union.

"Iran and Turkey are members of International Cooperative Association (ICA), so they can trade agriculture goods and launch secure corridor to transport products to Central Asia," Shirzad added. "Iran's milk powder and barberry can also be exported to Turkey," he said.

The official emphasized that signing a memorandum of understanding between agriculture unions of the two countries would open new chapter in their cooperation.

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