Economy, Domestic Economy

Trade With Turkey a Priority in Post-Sanctions Era

Trade With Turkey a Priority in Post-Sanctions EraTrade With Turkey a Priority in Post-Sanctions Era

Expansion of trade with Turkey will be a priority in the post-sanction era, said vice president for international affairs at Tehran’s chamber of commerce, industries and mine Mohammad Reza Bakhtiari.

He made the remarks at a meeting with a trade delegation from Turkey’ Eskisehir province, who arrived in Tehran on Sunday to explore trade opportunities in Iran, IRNA reported.

The delegation, headed by deputy governor-general of Eskisehir province, comprised government officials as well as representatives from the province’s private sector.

“Countries that stood by Iran despite western pressure and maintained trade ties with us during the years of sanctions will have to be prioritized in doing business with Tehran in the post-sanctions era,” said secretary general of Tehran’s chamber of commerce Ebrahim Bahadorani. He predicted that the economy will be more competitive in the years ahead, calling on Turkish companies to prepare for close competition with Iranian and foreign companies.

Iran and the P5+1 are trying to clinch a comprehensive nuclear deal by the end of June, after which It is expected that the sanctions be immediately removed once the deal is reached.

Turkish commercial attaché in Tehran Himmet Geris, for his part, said that the business communities in Eskisehir are eager to expand trade relations with Iran.  

“Both government officials and the private sector of Eskisehir Province want to expand trade with Iran, fearing that they might be overtaken by Turkey’s other provinces such as Izmir, Istanbul and Ankara,” he said.

According to Bakhtiari authorities from both sides believe that the bilateral trade must increase to $30 billion.

Trade between Iran and Turkey stood at $13.72 billion in 2014, recording a 6% decrease compared with 2013 when the figure stood at $14.57 billion

Turkey’s exports to Iran totaled $3.88 billion in 2014, 7% decrease compared with 2013. Turkey’s imports from Iran, most of which included oil, natural gas and their condensates, amounted to $9.83 billion in 2014, a 5.3% decrease compared with the previous year.