Economy, Domestic Economy

Boosting Trade With Turkey

Boosting Trade With TurkeyBoosting Trade With Turkey

Tehran and Ankara have agreed to increase their annual trade from the current $13 billion to $30 billion in the coming years, IRNA quoted Iran’s commercial attaché to Turkey, Hamid Zadboum, as saying. Despite the 10% decline in Turkey’s total exports this year, its exports to Iran have not decreased much. Iran and Turkey are signatories to a preferential trade agreement. The PTA was inked in January 2014 and went into effect a year later. Zadboum had earlier announced that the two sides are planning to update the agreement to include more items. Currently, 125 Iranian goods and 140 Turkish items valued at $50-60 million annually are exchanged based on preferential tariffs. Turkey is considered Iran’s gateway to Europe.