TEHRAN, Iran

 Iran and Turkmenistan have agreed to expand their trade volume from the current $3.7 billion to $60 billion in the next 10 years.

The decision was made during Iranian President Hassan Rouhani’s meeting Wednesday with his counterpart Gurbanguly Berdimuhamedow in Turkmenistan’s capital, Ashgabat, the Islamic Republic News Agency said.

Rouhani underscored that Iran was ready to provide technical assistance and materials to Turkmenistan’s various industrial sectors.

He said that Tehran and Ashgabat considered the Caspian Sea as the sea of peace, friendship and brotherhood. He said that Iran was ready to activate seaports, shipping lines and other marine-related activities with Turkmenistan.

The Iranian president also said both countries agreed on the need to activate the North-South Transportation Corridor that linked Oman, Iran, Turkmenistan and Uzbekistan through shipping lines, railways and roads.

In highlighting the role of transportation, Rouhani hoped that the volume of railway and road transportation would increase between both countries in the near future.

When the Iranian president visited Turkmenistan, both countries signed several agreements to boost their ties in various sectors, including oil-and-gas, electricity, railways, roads, environment, tourism, science and technology.