Tehran, Ankara sign customs co-op MOU

Islamic Republic of Iran Broadcasting (IRIB) reported Iran Custom Administration Director Ardeshir Mohammadi and his Turkish counterpart Maqsud Mateh agreed on creating a trade window at Bazergan, Khoy, Saro, and Maku border points.

According to the accord, joint border markets in Kuzrosh and Salmas will also be revived.

Mohammadi said that the step taken will help boost trade between the two countries to $30 billion from the present $10 billion in a few years’ time.

He went on to say that the agreement has 8 articles meant to decrease the time and cost of trading goods between Iran and Turkey and facilitate safer business.

Iranian First Vice President Mohammad-Reza Rahimi says Iran and Turkey have agreed to increase the level of their annual trade exchanges to $30 billion.

"Following a proposal from Iran, the level of trade between Iran and Turkey will increase to $30 billion within the coming 4 to 5 years," IRNA quoted Rahimi as saying in October 2009.

"The level of trade ties between Iran and Turkey stands at about $11 billion, which is not satisfactory," he added.

"We should conduct some of our trade in Iran's rial and the Turkish lira through establishing joint banks," Iran's vice president stated.

MRK/HB

END

MNA