TEHRAN – Iranian Foreign Minister Manouchehr Mottaki and Mehmet Simsek, the Turkish Minister of State, responsible for economics, foreign trade, and the Treasury signed two memorandums of understanding here on Wednesday in a bid to expand economic cooperation.

The chairmen inked the MOUs in the last day of the 20th Iran-Turkey Joint Committee meeting, to develop bilateral cooperation in the fields of energy, transport, telecommunications, agriculture, banking, industry, and science.
ISNA quoted Mottaki as saying that Iran and Turkey seek ways to expand economic exchanges, adding that Tehran welcomes Turkish companies’ contribution to Iranian projects.
The meet kicked off on Sunday and wrapped up on Wednesday.
Iranian Minister of Roads and Transportation Hamid Behbahani in a separate meeting with Simsek, here on Wednesday called for the expansion of trade and economic exchanges between Iran and Turkey.
“Iran welcomes expansion of transit exchanges with regional states,” he said, the Mehr News agency reported.
Simsek expressed satisfaction over the current level of economic relations and said that the Iran-Turkey trade exchanges was 1.3 billion dollars in 2002, and it is expected to exceed 10 billion dollars in 2008.
On railroad construction aimed at linking Iran, Turkey, Turkmenistan, Uzbekistan, and Kazakhstan, Behbahani said, “The rail link will help increase economic cooperation among regional states.”
The two sides expressed hope that Tehran-Ankara rail transport will enhance with the construction of the railroad.
-------- Iran allots $50m for exports expansion
The Export Development Bank of Iran (EDBI) allocates 50 million dollars in credit to Mellat Bank branch in Istanbul to facilitate export of Iranian-made commodities to Turkey, Iranian economic attaché in Turkey Kazem Maleki said.
IRNA quoted Maleki as saying that under the credit line, Iranian businessmen could sell their commodities and receive money via EDBI.
Maleki added that Turkish businessmen could also receive credit for purchase of commodities via Mellat Bank branch in Istanbul.
“According to the Economic Cooperation Organization Trade Agreement (ECOTA), the preferential tariffs will be finalized in the near future,” he added.
-------- Tehran, Ankara plan to boost trade
Bilgin Aygul Iran-Turkey Joint Council deputy expressed hope that trade exchanges will exceed 20 billion dollars in the upcoming years.
In a meeting on Wednesday in the Iran Chamber of Commerce, he suggested ways to resolve businesspersons’ problems, the MNA reported