Iran, Turkey discuss $30 billion trade goal

TABNAK Mar. 12 - Officials from Iran and Turkey explore mechanisms to achieve the target of $30 billion in trade.

News ID: 6125

Date: 12 March 2025 - 16:52

Iranian and Turkish trade delegations have reviewed the implementation of a memorandum of understanding on bilateral cooperation and explored mechanisms to achieve the target of $30 billion in trade.

Reza Masroor, the secretary of Iran’s Supreme Council of Free Trade Zones, led a delegation to Turkey to enhance cooperation in free trade zones. The delegation met with Turkish Trade Ministry officials to assess joint projects and investment opportunities.

Masroor’s visit also included a tour of Istanbul’s free trade zone and meetings with Turkish traders and business figures.

Following the discussions, Turkey’s Trade Ministry issued a statement on X, outlining the key topics addressed during the meetings. The ministry said that the Iranian delegation met with Mustafa Tuzcu, Turkey’s deputy trade minister.

The talks centered on implementing agreements reached at the eighth meeting of the Iran-Turkey High Council for Cooperation, particularly in the realm of free trade zones and special economic areas.

Turkey also reiterated its commitment to enhancing economic ties through trade and investment, in line with the $30 billion trade goal set by the countries’ presidents.

Ambassador: $7 billion increase in Iran-Turkey trade

Iran’s ambassador to Turkey also highlighted the steady rise in bilateral trade, stating that trade volume between Tehran and Ankara reached $11.8 billion last year and surpassed $17.5 billion by February this year.

Speaking during a virtual meeting of the Iran-Turkey Joint Transport Committee, Hossein Habibollahzadeh projected that the trade volume could reach $19 billion by year-end.

Emphasizing the importance of transit development, Habibollahzadeh said that trade and transport volume between the two countries had increased by $7 billion this year.

However, he underscored the need for significant infrastructure upgrades in rail, air, sea, and port sectors to sustain and expand this growth.