Iran keen to boost trade ties with Turkmenistan

Iran Materials 19 November 2013 22:07 (UTC +04:00)

Baku, Azerbaijan, Nov. 18

By Fatih Karimov - Trend:

The managing director of the Trade Promotion Organisation of Iran (TPOI) has said that the necessary infrastructures for boosting trade ties with Turkmenistan should be provided, IRIB reported on November 18.

There are some bottlenecks in Iran-Turkmenistan trade, TPOI head Valiollah Afkhami said, adding that Turkmenistan enjoys a notable potential to increase the volume of trade.

Iran mainly exports cement, potatoes and apples, types of flour and pipe fittings to Turkmenistan.

In July, the IRNA news agency reported that Iranian and Turkmen merchants plan to boost trade turnover by 100 per cent reaching $10 billion.

Iranian-Turkmen trade turnover reached some $5billion in the last solar year (end on March 21).

According to the Iran Custom Administration report, Turkmenistan exported some $244 million worth of gas during first three months of the current solar year. The value of imports was some $15 million in the same period.

Iran imported 4.5 billion cubic meters of gas worth $3.5 billion from Turkmenistan in the last solar year. This indicates a 50 per cent decrease compared to the previous solar year.

Iran is Turkmenistan's second largest trade partner after Russia, the report said.

Iran's highest foreign trade balance was with Iraq, Afghanistan, Turkmenistan and Egypt during the first quarter of the current solar year.