Iran to hold effective trade conference with Turkey

iran turkey flagsTehran, Feb 14, IRNA – A senior official at the Ministry of Industry, Mine and Trade said a conference on effective trade with Turkey will be held on March 3 in the presence of active businessmen of the two neighboring countries.

Abbas Khaleqi-Tabar said Turkey has about $250 billion imports from different countries of which Iran’s share is less than 5%. However, he added, trade balance with Turkey is currently positive which is mainly due to the export of gas, oil and oil derivatives.

He said Iran stands in the second place after Russia in gas export to Turkey, adding that Iran exports to Turkey amount to $11.5 billion of which share of non-oil export is less than $2 billion.

The official further remarked that initiatives such as bilateral preferential trade, customs agreement, participation in multilateral cooperation regimes, and establishment of production corporations can be effective in preparing the ground for increasing trade balance.

He said the growing rate of trade with Turkey in the past few years is indicative of the stability and forward moving of trade with Turkey and with regard to the targeting made for the realization of $30 billion annual trade it can be a proper prospect for the development of commercial cooperation.

Khaleqi-Tabar added that the present world and regional economic condition has encouraged neighboring and friendly countries to establish preferential mechanisms for increasing exchange of commodities and services and with regard to drop in oil price turn to increasing export of non-oil commodities.