Tehran, Ankara moving toward free trade

Iran and Turkey have agreed on enhancing bilateral relations through negotiating a free trade agreement.

TEHRAN TIMES – Iran and Turkey have agreed on enhancing bilateral relations through negotiating a free trade agreement.

Iranian Minister of Communications and Information Technology Mahmoud Vaezi and Turkish Minister of Economy Nihat Zeybekci in their Sunday meeting in Tehran said signing a FTA could step up trade between the two neighboring countries.

Referring to a preferential trade agreement signed in 2015 between Iran and Turkey, Vaezi said that the contract is going to be revised and converted into FTA in the future, Mehr reported.

 “We aim to boost our bilateral trade to $30 billion per annum as the two country’s presidents have targeted,” he added.

Zeybekci, for his part, said that reaching the 30-billion-dollar bilateral trade is a preliminary goal in bilateral trade and considering the existing potentials the value can be augmented up to $50 billion per year.

He, in addition, noted that the PTA signed in 2015 between the two sides will bear fruit incrementally, and vowed that the Turkish government will remove the present barriers on the way of improving trade between Tehran and Ankara.

Jul 10, 2017
Tehran Times |