TEHRAN- Tehran Stock Exchange (TSE) and Istanbul Stock Exchange, also known as Borsa istanbul, signed a memorandum of understanding (MOU) on bilateral cooperation, according to the Fars News Agency.

The MOU was signed by Hassan Qalibaf-Asl, the managing director of TSE, and Tuncay Dinc, the CEO of Borsa istanbul, on October 26 during the visit of the executives of TSE as well as Securities and Exchange Organization of Iran (SEO) to Borsa istanbul.

Qalibaf-Asl mentioned signing this deal a turning point in ties between the capital markets of the two countries.

He said the capital markets of Iran and Turkey as two neighbors enjoy some valuable potentials for bilateral cooperation.

Dinc, for his part, said “We are glad to sign this MOU with Tehran Stock Exchange. I am confident that this MOU will pave the way for intense cooperation between our exchanges and mobilize us to explore joint business development opportunities. Borsa istanbul and Tehran Stock Exchange, each comprising great potential, will no doubt add value to each other’s know-how and business scope,” according to the official website of the Borsa istanbul.

The MOU signing ceremony was also attended by Mohammad Fetanat, the president as well as the board of directors’ chairman of SEO.

On September 21, Fetanat referred to some factors, which are often mentioned as the advantages of Iran for attracting foreign investment, as the country’s geographical location, its large population with a major part consisting of educated and young people, and its GDP, which is among the top 20 GDPs in the world in terms of PPP. 

MA/