Iran and Turkey Set Ambitious Goal to Boost Bilateral Trade to $30 Billion
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Tehran, Dec 12 (NationPress) Iran and Turkey have formalized a memorandum of understanding (MoU) with the objective of elevating bilateral trade to $30 billion over the next five years.
The agreement, which seeks to strengthen economic relations, was signed in Tehran by Farzaneh Sadegh, the Iranian Roads and Urban Development Minister, and Omer Bolat, the Turkish Trade Minister, as reported by Xinhua news agency citing Iran's state news agency IRNA.
This signing event marked the end of the 29th session of the joint economic cooperation commission, a three-day conference dedicated to enhancing trade, banking, and investment partnerships.
Currently, the annual trade volume between the two neighboring nations is approximately $11.7 billion, according to IRNA. The MoU lays out plans for increased trade and economic collaboration in the upcoming year, setting the stage for further discussions at the 30th meeting of the joint commission.
