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IRAN NEWS ECONOMIC DESK

Turkish Ambassador Mr. Derya Ors yesterday reiterated that Turkish state-owned bank Halkbank will remain in Turkey’s financial mechanism for trade with Iran despite the U.S. sanctions.

Derya yesterday met  the head of Tehran’s Chamber of Commerce Mr. Masoud Khansari and during the meeting both sides reviewed the latest developments in bilateral economic relation and called for expanding all-out mutual cooperation despite the U.S. sanctions.

Derya, who has started his mission nine months ago and has full command in Persian language, pointed to strong determinations of presidents of both countries for expanding economic relations and announced readiness of Turkey’s private sector for cooperation with Iranian enterprises.

The Turkish diplomat also pointed to restoration of economic stability in Turkey, reiterating after years of economic challenges, now inflation rate in Turkey is single-digit.

He also pointed to the recent joint economic commission which was held in Turkey in September and new agreements between both countries for improving the economic cooperation, noting that both countries reached good agreements on restoring preferential trade.

Ors also pointed to the target which was set by presidents of both countries to boost trade volume to $30b.

He went on to say that the statistics on trade between Iran and Turkey shows that in 2012, the trade volume of both countries hit $22b but due to the reimposition of the U.S. sanctions, it faced decline  and both countries have not succeeded in repeating the 2012 record.

Ors admitted that one of the major hurdles in way of expanding trade with Iran is the sanctions which have made oil purchase difficult, adding that despite sanctions, Turkey is after some ways for continuing the purchase of Iran crude.

He also pointed to the current banking relations between Iran and Turkey, emphasizing that Turkey’s Halkbank will continue its cooperation with Iran despite threats and pressures from the U.S. , claiming that 85 percent of banking transactions between both countries are carried out by Halkbank.

He also noted that the number of Iranian tourists to Turkey has decreased by 200,000 people, adding that last year around 2m Iranians visited Turkey while at the same time 600,000 Turkish nationals visited Iran.

Ors also pointed to the active presence of some big Turkish companies in Iran’s market , and announced Turkish Embassy’s readiness for cooperation with Tehran’s Chamber of Commerce for expanding economic cooperation and easing trade relations.

Meanwhile Head of Tehran’s Chamber of Commerce Mr.  Khansari, for his part, said that Iran and Turkey are doing their best to retain their economic relations despite sanctions, adding that although both countries have failed in materializing the $30b trade volume, doors for expanding cooperation have not been closed and they can take action for enhancing cooperation.

Khansari said that Iranian companies have turned to investment in Turkey and today we witness inauguration of Iranian factories in Turkey while big Turkish companies are still present in Iran’s market.

He also called for more interaction between the chamber and Turkey’s Embassy for helping economic enterprises for expansion of ties and invited head of Ankara’s Chamber of Commerce to visit Tehran for specialized trade meetings

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