Economy, Domestic Economy

Istanbul to Host Iranian Expo

Istanbul to Host Iranian ExpoIstanbul to Host Iranian Expo

A four-day exhibition of Iranian goods and services will be held in Istanbul on Oct. 25

Iran’s Minister of Industries, Mining and Trade Mohammad Shariatmadari and Turkish Economy Minister Nihat Zeybekci, as the chairmen of Iran-Turkey Economic Commission, will attend the inaugural ceremony, IRNA reported.

The exhibitors, according to ILNA, include representatives of Iranian companies in a wide range of sectors, including energy, oil, gas, petrochemicals, auto and auto parts, aviation, wood and cellulose, metal, food, agro products, mining, construction materials, tile and ceramic, home appliances, art and cultural products, handicrafts, banking services, transportation, tourism and textiles.

The two ministers met in Ankara on Friday ahead of the upcoming event and agreed that the joint commission will hold a meeting in Tehran next month.

Shariatmadari is part of the Iranian delegation led by First Vice President Es’haq Jahangiri to take part in a conference of the D-8 Organization for Economic Cooperation held on Friday.

Jahangiri met with Turkish President Recep Tayyip Erdogan and Prime Minister Binali Yildirim while in Turkey.

Erdogan said Turkey is determined to increase trade with Iran to $30 billion per year. Current trade between the two neighboring countries stood at $9 billion last year.

Governors of the two countries’ central banks announced on Thursday that the final agreement for conducting bilateral trade in local currencies has been signed.

Based on the agreement, the central banks of Turkey and Iran have allocated a credit of 5 billion lira ($1.4 billion) and its equivalent in rial to their respective agent banks to be used as letters of credit with a repayment period of one year for both countries’ traders.


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