Iran-Turkey trade rises 40%, tops $20.8b

TEHRAN – The value of trade between Iran and Turkey surpassed $20.8 billion in the first 11 months of 2012, which was a rise of 40 percent compared to the same period in 2011.

Turkey’s exports to Iran amounted to $7 billion in the aforementioned period, mainly due to exports of gold to Iran, IRNA reported, citing data released recently by the Turkish Statistical Institute.

Oil, gas, and petrochemicals accounted for the lion’s share of Iran’s exports to Turkey.

On December 11, 2012, Iran’s ambassador to Turkey said the value of trade between Tehran and Ankara could potentially increase fivefold to as high as $100 billion a year.

Ambassador Bahman Hosseinpour added that ample investment opportunities await Turkish investors in Iran.

Bilateral trade exceeded $16 billion in 2011, and the two countries plan to increase the volume of their bilateral trade to $30 billion by 2015.

via Iran-Turkey trade rises 40%, tops $20.8b – Tehran Times.