‘Turkish companies eager for investment in Iran’

September 14, 2019 - 19:12

TEHRAN – Head of Iran-Turkey Joint Chamber of Commerce said among all foreign companies the Turkish companies are more willing to invest in Iran, IRNA reported on Saturday.

According to Reza Kami, over the last decade, Turkish companies’ presence in Iranian market has increased significantly and 100 large and medium-sized enterprises have invested in western provinces like in Azarbaijan and in Aras Free Zone.

“Most of the investment were in industry and production fields,” Kami said.

He further mentioned the increase in the presence of Iranian companies in Turkey and expressed support for Iranian firms’ investment, especially knowledge-based ones, in Turkey.  

He noted that Iranian companies are mostly active in Turkey’s service and commercial sectors.

Kami had earlier told IRNA that the Turkish government repeatedly announced that it will not comply with the U.S. sanctions against Iran and won’t replace Iranian oil under U.S. pressures.

Back in April, the Turkish Foreign Minister Mevlut Cavusoglu said at a reception in Ankara that Turkey is not willing to replace Iranian oil with those from Saudi Arabia and the United Arab Emirates as the U.S. has offered.

Cavusoglu mentioned the price difference between Iranian crude and those of Saudi and UAE, saying “Iranian oil isn’t cheap but there is a big difference.” 

“The U.S. is taking a decision and wants all countries to comply with it. Why should we pay the price?” he added.

Earlier, Iranian President Hassan Rouhani told his Turkish counterpart Recep Tayyip Erdogan in a phone conversation that Iran is fully prepared to develop ties with the friendly and fraternal country, Turkey.

Rouhani also called for fast implementation of joint projects between Iran and Turkey while Erdogan voiced Ankara’s readiness to expand and develop bilateral ties with Tehran.

Iran and Turkey plan to set up a financial mechanism to circumvent U.S. sanctions on the Islamic Republic.