Developing 8

Iran to Hold 1st Ministerial Meeting on Industry on February 28 - March 1, 2010 in Tehran | Download the recently-published Iran’s Top 100 Companies List and Foreign Investment in Housing Sector of Iran here | D-8 to Hold the 27th Session of the D-8 Commission and the 12th Session of the D-8 Council of Ministers Meetings in Kuala Lumpur, Malaysia, 30 October - 2 November 2009 | D-8 to Standardize Fish Production to Thrust Intra-Trade | D-8 Plans to teamwork with IFAD on Sets of Issues

Finance Meetings News Trade

Secretary General: D-8, ECO, and OIC should Encourage Trade between Turkey and Iran

Istanbul, Turkey | December 12, 2007 by D-8 Secretariat

Foreign Economic Relations Board (DEIK) board chairman Rona Yircali said the new law recently implemented in Iran to promote foreign investment could attract Turkish investors to the country, reported the Turkish TodaysZaman Daily.

Speaking at the Turkey-Iran Business Council Forum held in Istanbul on Monday, Yircali said trade relations between Turkey and Iran had a long history. He said the mutual trade volume between Turkey and Iran was $1.2 billion in 2002 and that the goal was $5 billion at the time. He added that trade volume had reached $6 billion in 2006; however, Yircali said there was an imbalance in bilateral exports and imports of the two countries in favor of Iran. “That’s why we would like Iran to give priority to Turkey in their imports to close the gap,” he said, adding that Iran was ranked fifth in Turkey’s imports but only 20th in its exports.

According to D-8 Secretary General Dipo Alam, this is an inspiring news for the development of cooperation of the both member states of D-8. He said that in D-8 RoO and PTA agreement, as well as in the Protocol on the Common Preferential Tariff Scheme (PRETAS) and the Preferential Tariff Scheme for OIC (PTSOIC), and in economic cooperation of ECO, this sort of bilateral trade and investment is strongly encouraged. “And vice-versa, we hope that Iranian investor would also be interested to invest in Turkey, especially in Eastern part of the country where development has yet to catch up with its northern and western region,” he noted in his office on Tuesday.

Read Also

Rate this article:

(No Ratings Yet)

Loading ...

Print This Post Email This Post

Post Comment

Share your thoughts on this story. Please increase the credibility of your post by including your name and city, and by demonstrating respect for others' opinions. Comments will not appear immediately; all comments are moderated and will be posted in order of submission.