Turkmenistan and Iran to expand trade ties

Business Materials 27 October 2021 15:19 (UTC +04:00)
Turkmenistan and Iran to expand trade ties

TEHRAN, Iran, Oct.27


Turkmenistan Foreign Minister Rashid Merdov arrived in Tehran to attend The 16th annual meeting of Iran Turkmenistan Joint Economic Cooperation Commission and expand trade ties, Trend reports.

Iranian Minister of Road and Urban Development Rostam Qassemi has acknowledged the 1,000 kilometers joint border between the two countries and the long trade ties.

"Trade and economic ties between the two countries were good during Coronavirus spread and reached billions of dollars," Qassemi noted.

While the trade was limited due to global pandemic, Qassemi indicated agreement with Turkmen officials will boost ties in the energy sector including gas and oil alongside transit.

The meeting will finalize the agreement between Iran and Turkmenistan in the field of energy while Iran seeks to expand transportation and maritime transit.

Turkmenistan is expected to join Iran and India's agreement in Chabahar development to transit goods from Chabahar to northern countries such as Russia. Turkmenistan's investment in Chabahar was also discussed in the joint meeting.

Two countries will hold a virtual conference next week to finalize the development of maritime transit.

Iranian Minister indicated the following meeting would create a new chapter in ties between the two countries.

The 16th annual meeting of the Iran Turkmenistan Joint Economic Cooperation Commission was previously canceled in the past two years due to pandemics and. Officials of the two countries are expected to sign a memorandum of understanding during the meeting.