TEHRAN (Iran News) Hamed Asgari, Vice President for International Affairs at the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), described the current level of economic ties between the two neighbors as “unsatisfactory” and called for new tariff policies and streamlined cooperation to accelerate trade.

Speaking at the meeting, which also included Sama Farkhondehnejad, ICCIMA’s Director for European Affairs, Asgari noted that the annual trade potential between Iran and Turkey could reach $15–20 billion.

“Iran has significant comparative advantages in energy and competitive products for the Turkish market, but these opportunities remain underutilized due to tariff barriers and restrictions. Cement and clinker are prime examples,” he said.

The Iranian official emphasized that with support from the Turkish Embassy in Tehran and the revision of tariffs, the two countries could significantly expand bilateral trade.

He also stressed the need for quick, non-bureaucratic links between Iranian and Turkish companies, highlighting opportunities in steel, petrochemicals, and other industrial sectors.

Asgari invited Turkish officials to raise the concerns of their businesses so that “appropriate solutions can be developed.”

He also reaffirmed ICCIMA’s readiness to send trade delegations to Turkey and to enhance institutional cooperation between the chambers of commerce of both nations.

On the Turkish side, Bilge Dönmez, the new Commercial Attaché at the Turkish Embassy in Tehran, underlined the importance of resolving misunderstandings in trade relations.

Orhan, another Turkish commercial attaché, stressed that removing trade barriers is critical, pointing out that Turkey serves as a gateway for Iran to European markets and that a large Iranian community resides in Turkey.

He also highlighted the potential for mutually beneficial cooperation in oil and energy, adding that chambers of commerce play a key role in this process.

The Turkish officials referred to progress in recent joint commission meetings, high-level councils, and customs talks between the two countries, announcing that negotiations on a preferential trade agreement will soon resume. “Iran–Turkey”

They acknowledged that while dozens of Turkish companies already operate in Iran, trade-related challenges persist.

In response, Asgari stressed the commitment of both governments and their chambers of commerce to resolving such issues.

“The Iran Chamber of Commerce, as an advisor to the government, advocates for the private sector and welcomes collaboration with the economic section of the Turkish Embassy to devise practical solutions,” he said. “Iran–Turkey”

He reaffirmed the significant opportunities for cooperation—especially in the steel industry—and proposed holding regular follow-up meetings with specific agendas involving private-sector representatives from both countries.

The meeting concluded with a call by Orhan for greater exchange of expertise and best practices between the chambers.

Dönmez, introduced as the new commercial attaché in Tehran, announced that regular technical and expert-level meetings with ICCIMA will be held to advance bilateral trade.

The post Tariff Reforms Essential to Boost Iran–Turkey Trade appeared first on Iran News Daily.

TEHRAN (Iran News) Mohammad Hossein Habibollahzadeh made these remarks on Monday during a coordination meeting at the Iranian Embassy in Turkey, which was held on the sidelines of a visit by Minister Farzaneh Sadegh to Turkey. He noted the close cooperation between the Islamic Republic of Iran and the Republic of Turkey in various sectors such as rail, road, maritime, transit, border terminals, and economic and trade exchanges. He emphasized that this collaboration remains crucial for Turkey.

The Iranian ambassador further stated that last year, Turkey was Iran’s third-largest trade partner, and it is expected to become the second-largest partner this year. “Iran-Turkey”

Habibollahzadeh explained that in the Iranian calendar year 1402 (March 2023 – March 2024), trade exchanges between the two countries amounted to $12 billion, which has now exceeded $14 billion by December 2024. It is anticipated that the total trade volume will reach $16 billion.

He added that Turkey’s distinction from other countries lies in the quality of imports and exports exchanged between the two nations. A wide range of essential goods and equipment are imported from Turkey to Iran and vice versa, creating unique opportunities for both sides. Therefore, maintaining the strong bilateral relationship is essential.

The report also mentioned that during the coordination meeting, discussions were held on topics related to highway tolls and transit issues.

The post Iran-Turkey Trade Surpasses $14 Billion appeared first on Iran News Daily.

The post Iranian, Turkish Top Bankers Stress Enhancing Bilateral Monetary, Banking Ties appeared first on Iran News Daily.

According to the latest figures released by the Turkish Statistical Institute (TURKSTAT), Iran’s trade with the neighboring country stood at $3.846 billion in January-May 2022, Tasnim News Agency reported.

According to TURKSTAT, Turkey’s exports to Iran from January to July 2023 reached $1.663 billion, recording a two percent decrease compared to last year’s corresponding period.

Turkey exported over $1.701 billion worth of products to the Islamic Republic in the first seven months of 2022.

Turkey’s imports from Iran also registered a 36 percent decline and fell from $2.145 billion in January to July 2022 to $1.362 billion in the first seven months of 2023.

Based on the data previously released by the Turkish Statistical Institute, the value of Iran’s exports to Turkey increased by 19 percent to reach $3.35 billion in 2022.

Turkey had imported over $2.82 billion worth of commodities from the Islamic Republic in 2021.

Based on the mentioned data, Iran’s imports from the country also marked an 11-percent rise to hit $3.07 billion in the past year, in comparison with 2021, when the figure was $2.77 billion.

According to the Turkish Statistical Institute, the trade between the two countries has registered a 15-percent rise in 2022 compared to 2021.

The value of trade between the two neighbors reached $6.42 billion in 2022, while the figure stood at $5.59 billion in the preceding year.

Iran’s trade balance with Turkey has been $280 million positive in favor of Iran in the past year.

Last July, Iran, and Turkey discussed ways of expanding economic relations along with political ties at the Turkish-Iranian High-Level Cooperation Council in Tehran.

During the meeting, which was co-chaired by Iranian President Ebrahim Raisi and Turkish President Recep Tayyip Erdogan, the two sides negotiated the extension of the gas export contract between the two sides for the next 25 years.

In the meeting, President Raisi noted that the Islamic Republic of Iran is determined to expand economic relations with neighboring countries.

The president also evaluated Tehran-Ankara ties as positive and progressive, saying that the two countries should pursue appropriate policies to move towards increasing their annual trade exchanges to $30 billion.

On the sidelines of the mentioned meeting, Iranian Energy Minister Ali-Akbar Mehrabian also held talks with Turkish Minister of Energy and Natural Resources Fatih Dunmez in which the two sides exchanged views on cooperation in energy fields.

Later, Head of Turkey’s Small and Medium Enterprises Development Organization (KOSGEB) Hasan Basri Kurt met with Head of Iran Small Industries and Industrial Parks Organization (ISIPO) Ali Rasoulian to discuss ways of expanding cooperation between the small and medium-sized enterprises (SMEs) of the two countries.

In this meeting Rasoulian referred to the signing of a memorandum of understanding (MOU) between the two countries on cooperation between SMEs, saying: “President Raisi has emphasized setting up joint industrial parks in the country’s special economic zones, considering the good infrastructure for setting up such parks in the free and special economic zones and the active presence of economic enterprises in these areas.”

The post Iran-Turkey trade exceeds $3b in 7 months appeared first on Iran News Daily.

Addressing an Iran-Turkey Business Forum, Headof Trade Promotion Organization’s West Asia Farzad Piltan said, “We have set a target for at least $15 billion in trade with Turkey until 1404 which can be met through cooperation with the private sector.”

Piltan said U.S. sanctions on Iran have hampered the trade of certain items on a list of nearly 500 goods and products that can enjoy lower tariffs under a preferential trade agreement (PTA) between Iran and Turkey.

“Some of these commodities are subject to the sanctions and we have to carry out more negotiations for the PTA agreement to become more effective,” said the official in a forum in Tehran that was focused on trade between Iran and Turkey.

Piltan said Iran and Turkey have also a great potential to increase the amount of international transit of cargo that passes through their territories.

Annual trade between Iran and Turkey reached a total of $13.558 billion in the calendar year to late March 2023, according to figures released in April by the Iranian customs authority (IRICA).

Turkey was the third largest customer of Iranian non-oil exports over the year to late March with some $7.459 billion worth of purchases, an increase of 23% compared with the year before, IRICA figures showed.

He also said that Iranian companies are ready to reconstruct cities in Turkey destroyed by recent devastating quakes which claimed the lives of many people in this country.

Piltan said that bolstering amicable ties with the neighboring and regional countries is the main approach of the Iranian administration.

Accordingly, senior Iranian officials have placed special emphasis on developing trade-economic cooperation with neighboring Turkey, he added.

The two countries have high potentials to promote bilateral ties in trade and economic fields, he said, adding, “Given that Turkey has a similar culture, economy and history with Iran, these potentials can be used optimally for the development of trade and economic relations.”

Meanwhile Head of Iran-Turkey Joint Chamber of Commerce Mehrdad Saadat proposed that Iran’s trade with Turkey should be handed to the private sector, saying: “The government cannot be a good businessman. But the real private sector has already come to work and can operate with the support of the government.”

Pointing out that Iran was not able to realize its potential of $15 billion dollar exchanges from Turkey’s 500-billion-dollar trade volume last year, he continued: “Although our exports to Turkey are growing, they are not satisfactory.”

He noted that the government must trust the private sector in order to realize the trade potential with Turkey.

“Over 85 percent of Turkey’s economy is in the hands of the private sector and they are more inclined to interact with the private sector of Iran,” the official said.

He emphasized that the preferential trade between Iran and Turkey should be operational as soon as possible and the meeting of the two countries’ joint economic committee should be held after a long break.

Meanwhile addressing the event, Commercial Counselor of the Turkish Embassy in Tehran Bulent Orhan said that neighborhood of Turkey with Europe is the advantage of Turkey, and blamed the cumbersome regulations which increase the cost of trade and called for accelerating business with using modern technology and avoiding traditional actions.

He also called for transparency in trade, reiterating that the more colorful role of chambers of commerce, the more transparency will be in the trade.

The post Iran Eyes $15b in Trade With Turkey by 2025 appeared first on Iran News Daily.

The volume of trade exchanged between Iran and Turkey in the first two months of the current year has registered an 11 percent decline as compared to the same period of last year.

Iran and Turkey exchanged $1.38 billion worth of products in January-February 2022.

According to this report, Turkey’s export of products to Iran in January-February 2023 hit $471 million, showing a 1.5 percent growth as compared to the last year’s corresponding period.

Accordingly, Turkey exported $464 million worth of products to the Islamic Republic of Iran in January-February 2022.

Another statistic indicated that Turkey’s import of products from Iran in the same period hit $451 million, recording a 21 percent decline as compared to the same period of last year.

Turkey imported $574 million worth of products from Iran in January-February 2022.

The balance of trade between the two countries of Iran and Turkey in the first two months of the current year in 2023 reached $21 million in favor of Turkey.

The trade value exchanged between Iran and Turkey in 2022 had amounted to $6.420 billion, indicating a 15 percent growth, the report added.

Meanwhile on Thursday, the Civil Aviation Organization of the Islamic Republic of Iran (CAA) announced that the number of weekly flights between Iran and Turkey will increase by nearly 20%.

CAA’s spokesman Jafar Yazarlou said that Tehran and Ankara have signed a memorandum of understanding (MoU) to increase the number of flights between the two countries by 40 to 260 per week.

Yazarlou said the aviation MoU signed between Iran and Turkey will also cover training courses for airport staff and technicians.

In recent years officials of both countries have decided to broaden their cooperation in all fields especially in their trade ties.

The post Iran-Turkey Two-Month Trade Value Hits $921m appeared first on Iran News Daily.

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.

The post Economic Cooperation of Iran-Turkey “a Must” appeared first on Iran News Daily.

Vaezi made the remarks at the coordination meeting of the 28th meeting of the Joint Commission on Cooperation between Iran and Turkey on Monday.

He said that the meeting of the Joint Commission on Economic Cooperation outlines the one-year roadmap for strengthening relations, adding that developing relations with neighbors have a significant role in the foreign policy of all countries, and Turkey has always been and is an important neighbor of Iran.

Referring to the importance of the meeting of the Joint Commission on Economic Cooperation, he noted that holding such meetings is accompanied by numerous meetings and talks with member officials, which can remove many obstacles to the expansion of cooperation and relations.

The coronavirus outbreak has created problems for all nations, including Turkey and Iran, as well as international cooperation, which they must try to overcome by holding such meetings and consultations, he highlighted.

Vaezi stressed the need to expand cooperation and interactions between the neighboring border provinces of the two countries and its importance in enhancing the level of bilateral relations.

The 28th edition of meeting of Iran-Turkey Joint Economic Cooperation Commission will be held on April 28-29 to discuss enhancing and broadening bilateral ties on issues of mutual interests.

This meeting will be held in the presence of Chairpersons of Iran-Turkey Joint Economic Cooperation Commission Mahmoud Vaezi Iranian President’s Chief of Staff and also Turkish Minister of Energy and Natural Resources through videoconference.

The post Turkey Always Been Iran’s Most Important Neighbor appeared first on Iran News Daily.

The post Iran-Turkey Cooperation Effective in Resolving Regional Problems appeared first on Iran News Daily.

Expressing support to neighboring Turkey, the diplomat added, “We strongly condemn recent US sanctions against Turkey and stand with its people and government.”

The US Treasury announced on Monday fresh sanctions that targeted Turkey’s defense procurement agency, known as the Presidency of Defense Industries, and its senior officials, including its president.

The sanctions come a year and a half after Turkey acquired a Russian missile defense system, which Washington claims to be a violation of US sanctions law.

The post We condemn US’ sanctions against Turkey appeared first on Iran News Daily.