Iranian First Vice President Mohammad-Reza Rahimi says Iran and Turkey have agreed to increase the level of their annual trade exchanges to $30 billion, Press TV reported.
"Following a proposal from Iran, the level of trade between Iran and Turkey will increase to $30 billion within the coming 4 to 5 years," IRNA quoted Rahimi as saying on Tuesday.
"The level of trade ties between Iran and Turkey stands at about $11 billion, which is not satisfactory," he added.
"We should conduct some of our trade in Iran's rial and the Turkish lira through establishing joint banks," Iran's vice president stated.
Turkish Prime Minister Recep Tayyip Erdogan arrived in Tehran on Monday and was officially welcomed by Rahimi in a ceremony on Tuesday.