TEHRAN –A high - ranking Turkish trade delegation comprised of both state and private sector officials began talks with their Iranian counterparts in Tehran on Saturday with the goal of boosting bilateral trade.
Turkish Minister of Development Cevdet Yilmaz is the head of the 80 - member delegation, which arrived in Iran on Friday, IRNA reported.
The facilitation of bilateral trade, the implementation of a previously signed preferential trade agreement, and the establishment of a joint industrial park are some of the main topics of discussion of the three - day meeting.
In January, IRNA reported that data compiled by Turkey’s statistics center showed that the value of trade between Iran and Turkey surpassed $20.8 billion in the first 11 months of 2012, which was a rise of around 40 percent compared to the same period in 2011.
Turkey’s exports to Iran amounted to $7 billion in the 11 - month period, mainly due to exports of gold to Iran.
Oil, gas, and petrochemicals account for the lion’s share of Iran’s exports to Turkey.
In December 2012, Iran’s ambassador to Turkey said Tehran and Ankara have the potential to increase the volume of their trade fivefold to $100 billion a year.
Ambassador Bahman Hosseinpour added that ample investment opportunities await Turkish investors in Iran.
The two countries plan to increase the level of their bilateral trade to $30 billion by 2015.