Iran, Turkey trade hit 11 billion dollars

Iran and Turkey have a trade volume of nearly $11 billion, which they hope to bring to $30 billion.

With a young population of over 70 million, Iran has great business potential for Turkey’s rapidly growing economy.

Still, in an effort to increase trade with each other, the two neighbors are planning to open another customs point at Dilucu-Maku.

Customs and Trade Minister Hayati Yaz?c? said over the weekend that Turkey has started work on opening nine new border gates to facilitate increasing trade with its southern and eastern neighbors.

In remarks to the Anatolia news agency, Yaz?c? said the country will have four new border gates each opened with Iraq and Georgia and the remaining one with Iran in the next two years. The gates with Georgia will be opened in the northeastern provinces of Ardahan and Igd?r, while those with Iraq will be established in the southwestern provinces of S?rnak and Hakkari. The one with Iran will be located in the eastern province of Igd?r.

If everything goes as planned, Turkey will have more than doubled the number of border gates it has with these three neighbors before 2014. Currently, Turkey has three border gates with Iran, two with Georgia and only one with Iraq.

Turkey has seen its trade volume expand rapidly in the past decade in parallel to its economy’s growing competitiveness, but also thanks to its “zero problems and maximum trade with neighbors” foreign policy widely lauded both in and outside the country. It did roughly $20 billion of its over $300 billion in trade with Georgia, Iraq and Iran last year.

(Source: todayszaman)

via Iran, Turkey trade hit 11 billion dollars – Tehran Times.