Iran and Turkey have the potential to increase their bilateral trade ten-fold to $100 billion annually, said Minister of Telecommunication and Information Technology Mahmoud Vaezi in a meeting with the visiting chairman of Istanbul Chamber of Industry, Erdal Bahcivan in Tehran on Saturday.
“For now, we are focusing our efforts to reach $30 billion in bilateral trade, as decreed by the presidents of our countries, however the ground is prepared to lift the figure well above this target,” the minister was quoted by IRNA as saying, adding that drawing on the capabilities of the private sector is instrumental to this end. “Without the private sector, expansion of economic ties will not be possible.” Both sides also stressed on the need to resolve obstacles in the banking sector and removal of tariff barriers to trade.
