Iran to hold 2nd expert energy show in Turkmenistan

Business Materials 18 May 2015 16:29 (UTC +04:00)

Tehran, Iran, May 18

By Mehdi Sepahvand - Trend:

The second expert energy and engineering exhibition of Iran is going to be held in Ashgabat, Turkmenistan.

Named Iran Project, the exhibition focuses on gas-for-goods and services barter, Fars news agency reported May 18.

Announcing the news, the director of the exhibition Hassan Mortaja also pointed out that Tehran and Ashgabat signed 17 memoranda of understanding back in March at the presidential level.

"Both sides are intent to improve mutual trade and economic cooperation to $60 billion in 10 years," he said.

He noted that the first Iranian exhibition in Turkmenistan which was held last July was successful.

Out of the CIS region, Turkmenistan registered the highest increase in trade relation with Iran.

Iran and Turkmenistan have agreed to double their trade turnover by the end of current year, the Islamic Republic president, Hassan Rouhani said March 12.

The value of Tehran-Ashgabat trade stood at $3.7 billion in 2014, Rouhani said, adding the figure will increase by 100 percent in 2015.

Iran, Turkmenistan non-oil trade turnover stood at $1.112 billion in 2014. The Islamic Republic exported $933 billion worth of non-oil goods to Turkmenistan, meanwhile imported about $179 million worth of goods from Ashgabat in the same period, according to Iran's Customs Administration.

Edited by CN

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