Economy, Domestic Economy

Turkey Will Benefit in Post-Sanctions Era

Turkey Will Benefit in Post-Sanctions EraTurkey Will Benefit in Post-Sanctions Era

Turkish Economy Minister Nihat Zeybekci says he believes Turkey will benefit the most from the removal of western sanctions against Iran.

“Turkey has always been an advocate of a diplomatic solution to Iran’s nuclear dispute and believes that the agreement will boost regional stability and set the stage for further economic cooperation between the two neighboring countries,” IRNA quoted the minister as saying.

With a population of 80 million and rich resources, Iran is a significant economic partner for Turkey, he said adding that Turkish companies stood by Iranians and spared no effort to provide their needs via lawful exports despite sanctions.

“Ankara is ready for Tehran’s post-sanctions era. Implementation of the preferential trade agreement since the start of 2015 is a shining example of my country’s readiness in this regard,” he noted.

Zeybekci also expressed hope that bilateral trade will increase from the current rate of $13.7 billion a year to $30 billion in the post-sanctions era.

Turkish business visits to Iran have been on the rise in recent months.

“As the post-sanctions era ushers in, Iran will be able to import its requirements such as industrial machines from countries of origin, which have far more advanced technology than countries like Turkey,” ISNA quoted Secretary-General of Iran-Turkey Chamber of Commerce Seyyed Jalal Ebrahimi as saying.  

“Recent moves by Turkish merchants and industrialists are aimed at cementing economic ties with Iran. Otherwise, they will lose their footing in our market,” he added.