Economy, Domestic Economy

National Currencies in Trade Exchanges

National Currencies in Trade ExchangesNational Currencies in Trade Exchanges

Tehran and Ankara are working on a plan to use their national currencies in their trade exchanges, Iranian Ambassador to Turkey Alireza Bigdeli said on Sunday. According to Fars news agency, after the implementation of the preferential trade agreement and settlement of transportation problems between Iran and Turkey, now the most important economic agenda of the two countries is a mutual monetary contract that will entail the use of national currencies in bilateral trade, Bigdeli said. “Trade and economic exchange is expected to be considerably facilitated once this monetary contract comes into effect,” he added. Iran and Turkey seek to broaden ties in various fields. The two sides plan to multiply trade in the next few years. Iranian Parliament Speaker Ali Larijani and Turkish President Recep Tayyip Erdogan in a meeting in Istanbul on Wednesday called for further expansion of bilateral ties, and underlined that the two countries could increase their trade balance to $30 billion in the near future.