TPO holds meeting of desk on trade with Turkey

July 8, 2020 - 11:23

TEHRAN- Trade Promotion Organization (TPO) of Iran held a meeting of the desk on trade with Turkey to explore the ways for the expansion of exports to the neighboring country and also recognizing the limitations in the way of Iran-Turkey trade, director-general of Asia and Pacific Office of TPO announced.

Reza Aqazadeh said the meeting was participated by the representatives of the governmental organizations as well as Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), and Iran-Turkey Joint Chamber of Commerce, TPO website published.

The participants discussed the ways for a win-win trade with Turkey and using the large capacities available for the expansion of trade between the two countries.

According to the data released by the Turkish Statistical Institute, Iran’s trade with Turkey stood at $803.59 million during the first five months of 2020 (January-May), showing 77 percent fall compared with the corresponding months of 2019.

Iran exported $331.67 million worth of goods to Turkey during the five months under review, to see an 87-percent year-on-year drop.

Imports stood at $471.9 million, down 53 percent year on year.

On June 27, the chairman of Iran-Turkey Joint Chamber of Commerce said that Iran’s export to Turkey is continuing via the roads and railway.

Mehrdad Sa’adat announced that the number of trucks waiting in Bazargan Border to enter Turkey indicates that Iran’s export to its neighbor is increasing, adding that Iran’s transit of commodities via Turkey has also risen noticeably after the reopening of this border.

Earlier in June, land borders between Iran and Turkey reopened after more than three months.

On the first day of border reopening, 150 Iranian trucks entered Turkey, according to the spokesman of the Islamic Republic of Iran Customs Administration (IRICA).

Rouhollah Latifi said that the mentioned trucks entered Turkey via three land borders of Bazargan, Sero, and Razi.

Also, 35 Turkish trucks entered Iran as the borders reopened, Latifi announced.

The long-awaited measure came more than a week after Iranian and Turkish presidents discussed the reopening of air and land borders between the two countries when the pandemic slowed down.

Iran sees trade with Turkey as key in efforts to confront the U.S. sanctions that have sought to undermine Tehran’s oil exports. Petrochemical products account for a major share of Iran’s exports to Turkey although the U.S. bans have made it difficult to settle payments between businesses in the two countries.

Turkey also relies on Iran as a major market for its manufacturing goods, including industrial machinery and garment, while it also sends to Iran some sizable shipments of crops and fruits that are not cultivated in the country.

MA/MA

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