Iran (IMNA) - Conversely, Turkey emerged as Iran's third largest source of imports, exporting goods worth $8.9 billion to Iran during the same timeframe. To enhance trade relations, Iranian Minister of Industry, Mining, and Trade Mohammad Atabak has called for the establishment of a preferential trade agreement and the removal of tariff restictions.
In a mid-December meeting with Turkish Trade Minister Omer Bolat, Atabak highlighted that the trade potential between Tehran and Ankara exceeds current exchange volumes. He emphasized the need for implementing bilateral agreements and reviving preferential trade to bolster economic interactions.
Atabak also noted that the deep cultural and historical ties between Iran and Turkey should translate into increased trade volumes. He expressed optimism about advancing joint cooperation frameworks and indicated that initial phases under the Joint Economic Committee would significantly enhance trade relations.
The minister further stressed that increasing trade would facilitate the execution of trade programs designed to deepen bilateral ties. He welcomed the formation of specialized committees aimed at resolving trade-related challenges through the Trade Promotion Organization (TPO) and suggested revisiting terms of the preferential trade agreement to expand volumes.
Additionally, Atabak underscored the importance of establishing joint border committees to streamline goods exchange and address border issues, advocating for the removal of certain tariff barriers to boost trade flows. He reiterated Iran’s readiness to enhance cooperation with Turkey, emphasizing mutual industrial advantages.
On the Turkish side, Minister Bolat acknowledged that current trade volumes do not meet expectations but expressed confidence that revised cooperation frameworks would accelerate economic exchanges. He invited Atabak to attend the upcoming Economic Cooperation Organization (ECO) summit in spring 2025, emphasizing collaboration among Islamic countries.
In a related development, Niloufar Asadi from ICCIMA proposed replacing previous trade agreements with a Free Trade Agreement (FTA) during discussions in Istanbul. She pointed out shortcomings in prior agreements and stressed the necessity for improvement.
Moreover, Iranian Minister of Transport Farzaneh Sadegh highlighted both countries' pivotal roles in regional transit during a meeting with Turkish Ambassador Hicabi Kirlangiç. She noted their geographical positions as vital links between Asia and Europe, presenting opportunities for enhancing freight networks.
On January 9, 2025, Iran’s Minister of Agriculture Gholamreza Nouri Qezeljeh led a delegation to Turkey for an Agricultural Business Forum aimed at addressing trade barriers and fostering bilateral ties. He emphasized government support for private sector growth in agriculture and food exports while advocating for stable customs policies to bolster exporters' credibility.
Iran's agricultural exports account for 20% of bilateral trade with Turkey, which has surpassed $14 billion in total trade during the first nine months of this Iranian year. This high-profile delegation included 180 Iranian agricultural exporters, marking one of the largest economic missions between the two nations and showcasing potential for enhanced collaboration in agriculture and food industries.
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