A meeting of the desk held by Trade Promotion Organization (TPO) of Iran on trade with Turkey to explore the ways for the expansion of exports to the neighboring country and also recognizing the limitations in the way of Iran-Turkey trade. The participants of the meeting discussed the ways for a win-win trade with Turkey and using the large capacities available for the expansion of trade between the two countries.
Iran’s trade with Turkey stood at $803.59 million during the first five months of 2020 (January-May), showing 77 percent fall compared with the corresponding months of 2019. Iran exported $331.67 million worth of goods to Turkey during the five months under review, to see an 87-percent year-on-year drop. Imports stood at $471.9 million, down 53 percent year on year.
On June 27, the chairman of Iran-Turkey Joint Chamber of Commerce said that Iran’s export to Turkey is continuing via the roads and railway. Land borders between Iran and Turkey reopened earlier in June after more than three months. On the first day of border reopening, 150 Iranian trucks entered Turkey.
Iran sees trade with Turkey as key in efforts to confront the US sanctions that have sought to undermine Tehran’s oil exports. Turkey also relies on Iran as a major market for its manufacturing goods, including industrial machinery and garment.
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Published on July 9, 2020 5:56 PM (GMT+8)Last Updated on July 9, 2020 5:56 PM (GMT+8)
