Turkey-Iran trade tops $20 billion
The value of trade between Iran and Turkey surpassed $20.8 billion in the first 11 months of 2012, showing around 40 percent rise compared to the same period in 2011, IRNA reported citing data by Turkey's statistics center.
Turkey's exports to Iran amounted to $7 billion in the mentioned period, mainly due to the exports of gold to Iran.
Oil, gas, and petrochemicals account for a lion's share of Iran's exports to Turkey.
On December 11, 2012, Iran's Ambassador to Turkey Bahman Hosseinpour said the trade volume between Tehran and Ankara can potentially increase fivefold to as high as $100 billion a year.
"This year, the value of trade between Iran and Turkey will surpass $20 billion," Hosseinpour said, Press TV reported.
"This figure is only 20 percent of the two countries' capacity, and can be increased to $100 billion," Hosseinpour added.
The Iranian ambassador added that ample investment opportunities await Turkish investors in Iran.
The value of the Iran-Turkey trade exceeded $16 billion in 2011. The two countries plan to increase the level of their bilateral trade volume to $30 billion by 2015.
- Explain this, Mr. Erdogan: income of Turkey's richest 7.7 times that of poorest
- When it comes to business, introducing yourself is an art
- Why India is likely to re-emerge as the UAE's top trade partner
- What's really attracting high net worth individuals to living in the UAE?
- Forbes Middle East reveals names region's 200 most powerful women
- Iran-Turkey trade expands
- Turkish president in Iran seeks to promote bilateral trade
- Turkey to be cooking with Iranian gas - minister
- Playing Iran and Israel at the same time? Turkey aims for $35 billion worth of trade with Tehran
- Iran issues trade data: Deficit over $20 billion, exchanges with USA drop