BAKU, Azerbaijan, May 19. The current trade turnover between Turkmenistan and Iran is not at a satisfactory level, and both sides must find solutions to boost economic relations, said Rashid Meredov, Turkmenistan's Minister of Foreign Affairs, Trend reports.
Speaking at the 18th session of the Iran-Turkmenistan Joint Economic Cooperation Commission today in Tehran, Meredov noted that trade turnover between the two countries amounted to about $461 million last year, reflecting only a 1 percent increase from the previous year.
He stressed the importance of cooking up new ways to grease the wheels of economic cooperation and tackle the old skeletons in the closet that are holding back cross-border trade.
“Although a joint border market is operational and citizens from both countries are already engaging in trade there, Iran has proposed establishing a border market either on the Caspian Sea or in the Bojnurd region, and this proposal has been positively received,” he said.
The Turkmen minister also mentioned that a special economic zone is currently active in Iran’s Sarakhs region and suggested the creation of a Sarakhs–Sarakhs joint trade zone at the border. He noted that both countries have agreed on this initiative and plan to implement mutual simplifications.
“It is even possible to carry out joint production within this zone. I propose using national currencies in the trade zone. Turkmenistan has already started this practice with other neighbors, including Uzbekistan,” Meredov added.
To note, the four-day 18th session of the Iran-Turkmenistan Joint Economic Cooperation Commission began on May 17 in Tehran. The session is co-chaired by Iran’s Minister of Roads and Urban Development Farzaneh Sadegh and Turkmenistan’s Minister of Foreign Affairs Rashid Meredov.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel