Iran-Turkey trades surpass $4bn in seven months
Iran-Turkey trades surpass $4bn in seven months
The trade between Iran and Turkey reached a total of $4.21 billion during the first seven months of 2019, indicating a decline of 30.2% compared with the corresponding period of 2018.

According to data released by Turkish Statistical Institute, Iran exported $2.82 billion worth of goods to Turkey during the period, indicating a 37.85% decline compared with the similar period of last year.

The country’s imports from Turkey stood at $1.39 billion in the seven-month period, also registering a decline of 7.09% year on year.

Iran was Turkey’s 19th biggest export destination and the 11th biggest exporter of goods to the country during the period.

Iran’s exports to Turkey in July amounted to $102.76 million, down 85.89% while imports from the neighbor during the month fell to $218.98 million (or 14.48%) compared with the similar span of last year.

Senior officials from Iran and Turkey’s economic sectors met on Tuesday as a committee to follow up on the preferential trade agreement reached between the two countries.

In the meeting, the acting head of Iran’s Trade Promotion Organization (TPO), Hamid Zadboum, mentioned the two countries’ great potentials for economic cooperation and called on the two sides to take necessary measures for increasing the two countries’ trade turnover.

“In the past five years, the volume of trade between Iran and Turkey has exceeded $53 billion, and considering the determination of the two countries’ presidents, the figure should increase to $150 billion over the next five years,” Zadboum said.

The official mentioned the preferential trade agreement between the two countries which has been operational since 2015 and said “We hope that with the support of the governments of the two countries, the agreement would continue in the best way for both sides and it would pave the way for further expansion of trade ties,”

  • source : Mehrnews