61562
Close to 60% of Turkey’s steel exports to Iran are made up of rails and profiles.
Close to 60% of Turkey’s steel exports to Iran are made up of rails and profiles.

Turkey Stresses Importance of Steel Trade With Iran

Turkey Stresses Importance of Steel Trade With Iran

Representatives of the Turkish steel sector are interested in developing lucrative cooperation with Iran, as steel trade between the two countries is on the uptrend.
The importance and advantages of trade collaboration were highlighted by Namik Ekinci, Turkish Steel Exporters Association’ (Celik Ihracatcilari Birligi, CIB) chairman, at the Iran International Steel Exhibition & Symposium 2017.
In 2016, Turkey shipped 128,000 tons of steel products to Iran, showing a 24% growth year-on-year, becoming the fifth largest steel supplier to Iran. At the same time, exports from Iranian mills to the Turkish market demonstrated a tenfold rise year-on-year totaling 210,000 tons in 2016, according to CIB.
The uptick in steel trade became possible as a result of the lifting of sanctions against Iran in early 2016.
In addition, Iran is currently emerging as a substantial steel exporter, especially to Middle East and North Africa region, gradually strengthening its positions as a supplier to the Far East.
Over the first 10 months of the current Iranian year ending January 19, Iran’s steel exports surged by 45% y-o-y, exceeding 4.4 million tons, according to the Iranian Mines and Mining Industries Development and Renovation Organization, as Metal Expert reported earlier.
The level of steel consumption in Turkey is expected to grow in the coming years owing to steadily developing steel-consuming industries.
“We believe that the needs and experiences of both countries can be mutually beneficial. Both Turkey and Iran can reach the highest levels once the sector representatives come together. Therefore, cooperation must be ensured by trade and investment partnerships,” Ekinci said in the official statement.
It is notable that 60% of Turkey’s steel exports to Iran are made up of rails and profiles. Since the Iranian government made railroad expansion a priority up to the year 2021, Turkish steelmakers can grab a considerable market share.

 

Short URL : https://goo.gl/J3c0Gf
  1. https://goo.gl/1k84zi
  • https://goo.gl/nJbnph
  • https://goo.gl/sH1wre
  • https://goo.gl/rqRp9Z
  • https://goo.gl/BE3wKs

You can also read ...

INTA Defends Monitoring of Bank Transactions
Head of the Iranian National Tax Administration Kamel Taqavi-...
TCI to Unveil eWallet
The local fixed-line operator Telecommunications Company of...
Democratic Senators Amy Klobuchar (L) and Mark Warner introduced the Honest Ads Act, in Washington, D.C. on Oct. 19.
A bipartisan group of US senators took the first steps this...
Iran-Iraq Bank Can Help Boost Trade
The head of Iran-Iraq Chamber of Commerce believes that the...
Banks’ Fiscal H1 Loan Portfolio at $68b
The Iranian banking system paid out 2.7 quadrillion rials ($67...
Iran Biggest Mideast Producer, Consumer of Footwear
Iran is the biggest producer and consumer of footwear in the...
The cost of releasing an album in the European countries is far higher than in Iran.
It’s tough to be a musician in Iran and tougher for music...
Census Mode to Change  in 4 Years
The traditional method of conducting population census based...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus