Economic Cooperation of Iran-Turkey  “a Must”
Economic Cooperation of Iran-Turkey  “a Must”
Iranian and Turkish business activists reiterated that economic cooperation between Iran and Turkey is necessary and called for resolving the problems in way of trade between the two states.

TEHRAN (Iran News) – Iranian and Turkish business activists reiterated that economic cooperation between Iran and Turkey is necessary and called for resolving the problems in way of trade between the two states.

In a webinar on “reviewing the trade relations between Iran and Turkey and opportunities for cooperation and existing challenges” over 250 Iranian and Turkish economic activists were present to review the opportunities for cooperation between the two states and participants emphasized expansion of cooperation.

In the opening of the webinar, Secretary General of Istanbul Chamber of Commerce (ITO) Mr. Nihat Alayoglu pointed to the commonalities between the two countries in political, economic and cultural fields and said the two countries with deep relations dating back to over 400 years as well as having 500 kilometers of joint borders have signed several trade agreements especially the preferential tariff agreement which was signed in 2015 and it is important for both states.

He went on to say that the trade volume of Iran and Turkey jumped from $1.2b in 2001 to $5.6b in 2021, adding that Iran’s share of export to Turkey was $2.8b and Turkey’s was $2.7b.  He noted that machineries and equipment top the list of Turkey’s exports to Iran and copper and plastic are the min exports of Iran to Turkey.

Alayoglu then reiterated that Turkey accounts for 7% of Iran’s $39b of imports, adding that the chamber is determined to increase Turkey’s exports to Iran to $10b and it is clear that chambers of both countries have tasks in boosting trade cooperation.

He then said ITO has over 715,000 members and it is among the big chambers in the world and it is ready to support joint trade activities, expressing hope that cooperation between the chambers of Istanbul and Tehran for expansion of trade between the two countries.

Then Secretary General of Tehran Chamber of Commerce Mr. Bahman Eshqi, addressing the webinar, talked about the capacities of Tehran Chamber and then highlighted significance of economic cooperation between Iran and Turkey.

He then said that Turkey is one of Iran’s gateway for trade with Europe and it is also one of the roads for reaching the Silk Road and the CIS countries. He stated by the way Iran can be a great gateway for Turkey to have access to India and Indian subcontinent.

Eshqi went on to say that cooperation between the two countries is necessary,  noting that interaction between Iran and Turkey has always been developing. He expressed hope both countries would take advantage of commonalities to expand their close ties in any sphere. He then said that chambers of commerce of Tehran and Istanbul should ease the pave for boosting trade relations and called for starting a joint work for removal of hurdles.

Then Head of Investment Services Center of Tehran Chamber Ms. Ferial Mostofi, for her part, said that the trade between Iran and Turkey has declined considerably in the past ten years despite the two countries’ good relation, adding that the biggest trade volume of the two countries was registered in 2012 as the trade volume reached $22b. She admitted that the U.S. exit of the JCPOA has affected the trade between Iran and Turkey after the sanctions were increased. She noted that of course the main reason behind the slump in trade volume was the slump in oil exports to Turkey.

She added that there are great potentials and opportunities for cooperation between Iran and Turkey and it is necessary for both countries to take advantage of it and the investment services center of the chamber supports expansion of trade relations between the two states.

Then Turkey’s Turkish commercial attache at Turkey’s consulate in Tabriz Tahir Dingil, for his part, said that implementation of the preferential tariff agreement was progressing well in the early years since its signing but after the U.S. exit from the JCPOA, it was weakened from 2018.

He went on to say that Turkey has invested over $1.4b in Iran and over 53 construction projects have been carried out by Turkish companies in Iran since 2005.