Iran, Turkmenistan plan to increase trade turnover

Business Materials 2 February 2016 15:00 (UTC +04:00)

Baku, Azerbaijan, Feb. 2

By Khalid Kazimov - Trend:

Trade turnover between Iran and Turkmenistan in the fields of gas, goods and technical services is expected to reach $60 billion within the next 10 years, an oil official said.

Mohammad-Taqi Amanpour, an advisor to the oil minister of Iran on exports of equipment and technical services, has said that Iran is projected to import gas from Turkmenistan worth $30 billion within the next ten years, SHANA news agency reported.

Meanwhile Iran is expected to export goods and technical services worth the same amount to Turkmenistan in the mentioned period, he added.

Amanpour said that the plan for exporting goods and services and importing gas from Turkmenistan was discussed during President Hassan Rouhani's visit to Ashgabat, last year.

During the meeting between Hassan Rouhani and Turkmen President Gurbanguly Berdimuhamedov in early 2015, the parties agreed to increase the trade turnover figure by $6 billion per year.

Tehran and Ashgabat have agreed to barter part of the gas supplied from Turkmenistan for goods and services from Iran, allowing the Iranian private sector to step up its operations in Turkmenistan.

Iran's national Gas Company and Export Development Bank of Iran have signed an agreement to facilitate the barter deal.