Five months after the inauguration of Iran-Turkey accord on reducing preferential tariffs, the monitoring body of the trade interactions, Iran’s Trade Development Organization (ITDO) released a special report on Iran-Turkey trade relationships.
According to the report, during the first five months of the new agreement in practice the trade balance of Iran-Turkey has seen $44 billion increase in Iran’s side comparing with the same period in previous year.
The increase means Iran’s goods exporting to Turkey has doubled since the implementation of the new tariffing policy but the problem of illegal importing of clothing goods is still troubling Iranian companies.
It is hoped that the preferential tariff agreement signed by Turkey and Iran would lead to qualitative growth of Iranian products.
Iran and Turkey have been pursuing more widening of their ties in various fields in the last two decades. Iran is a main energy supplier to Turkey and Ankara has made huge investments in Iran.
Iran is a main destination of Turkish goods and Turkey is among the top destinations of Iranian tourists and traders.
The two states plan to multiply their trade transactions in the next few years.