Ankara Keen to Triple Trade with Tehran

Turkish Customs and Trade Minister Bulent Tufenkci said Ankara plans to triple its business transactions with Tehran following the implementation of a lasting nuclear deal between Iran and world powers in January.

“Banking and financial transactions have become easier (for Turkey) after the sanctions on Iran were softened, already boosting our business with Iran,” Tufenkci told Reuters in an interview in Ankara.

He added that Turkey aims to triple trade with Iran to $30 billion as quickly as possible.

Tufenkci also said Turkey seeks to increase its exports to $155.5 billion this year.

Trade volume between Iran and Turkey rose to $21.9 billion in 2012, then fell below $10 billion in 2015 with the effects of anti-Tehran sanctions.

Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized the nuclear deal and started implementing it on January 16.

The agreement terminated all nuclear-related sanctions imposed on Iran.

(Source: Tasnim, under Creative Commons licence)

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