Turkish, Iranian ministers hold joint economic commission meeting in Ankara

• Opening of transboundary trade center in southeastern Türkiye, easing travel of Turkish, Iranian fleets to facilitate trade, says Iranian transport minister

ANKARA

Turkish Trade Minister Omer Bolat and Iranian Roads and Urban Development Minister Farzaneh Sadegh on Monday held a Türkiye-Iran Joint Economic Commission meeting in Ankara.

Bolat said that Türkiye and Iran signed a memorandum of understanding on cooperation in trade, customs, agriculture, investments, finance, transportation, and tourism in Tehran last year.

“Türkiye’s exports to Iran soared approximately $500 million, while Turkish investors have invested over $2 billion in Iran so far -- we see that trade is mutually accelerating as investments increase,” said Bolat.

The minister mentioned that joint committees between Türkiye and Iran meet regularly to discuss transportation.

Bolat said that the modernization of the Kapikoy Border Gate in the southeastern city of Van, bordering Iran, will be achieved with some arrangements to be made on the Iranian side, and the Sarisu transboundary trade center is waiting to be opened.

Sadegh stated that the target trade volume between Türkiye and Iran was discussed to be $30 billion, and the two countries agreed to facilitate the operations of the Turkish and Iranian fleets in the next three months.

She added that cooperation between the two countries on transportation will contribute to the stability and peace of the two countries and the region.

* Writing by Emir Yildirim in Istanbul.