Planning underway to achieve $30bn trade between Iran, Turkey

TEHRAN, Apr. 28 (MNA) - Stating that necessary conditions are provided for setting up a permanent fair in Turkey, Chairman of Iran-Turkey Joint Chamber of Commerce said that it is planned to achieve $30 billion worth of trade between Iran and Turkey.

Speaking in an interview with IRNA on Wed., Mehrdad Sa’adat said that trade volume exchanged between Iran and Turkey in 2020 experienced a decline due to the spread of the coronavirus pandemic.

He put Iran’s value of export to neighboring Turkey in 2020 at $2 billion, showing a significant decrease as compared to a year earlier.

In the same direction, Islamic Republic of Iran imported $2.254 billion worth of commodities from Turkey in 2020.

Many factors contributed to a considerable decline in bilateral trade between Iran and Turkey, the most important of which is related to the spread of the coronavirus global pandemic, COVID-19 as well as reimposition of sanctions by the US government on Iran over the past years, Sa’adat emphasized.

With the studies made at Iran-Turkey Joint Chamber of Commerce, it showed that Iran enjoys high potential to export $15 billion worth of products to Turkey, he added.

He reiterated that the two countries of Iran and Turkey have high potentials and capabilities to increase their bilateral trade volume by $30 billion.

Islamic Republic of Iran intends to open a permanent exhibition in Turkey for introducing Iranian businesspersons' products to lucrative Turkish market, he said, adding that Iranian traders and merchants can introduce their latest products in Turkish market with the inauguration of this exhibition in this country, Chairman of Iran-Turkey Joint Chamber of Commerce added.

MA/IRN84304314

News Code 172721

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