October 28, 2009

Iran, Turkey seek to triple trade by 2014

Press TV - October 28, 2009 01:02:51 GMT

Turkish Prime Minister Recep Tayyip Erdogan (L)
and Iranian President Mahmoud Ahmadinejad

Iranian First Vice President Mohammad-Reza Rahimi says Iran and Turkey have agreed to increase the level of their annual trade exchanges to $30 billion.

"Following a proposal from Iran, the level of trade between Iran and Turkey will increase to $30 billion within the coming 4 to 5 years," IRNA quoted Rahimi as saying on Tuesday.

"The level of trade ties between Iran and Turkey stands at about $11 billion, which is not satisfactory," he added.

"We should conduct some of our trade in Iran's rial and the Turkish lira through establishing joint banks," Iran's vice president stated.

Turkish Prime Minister Recep Tayyip Erdogan arrived in Tehran on Monday and was officially welcomed by Rahimi in a ceremony on Tuesday.

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