News ID: 196358
Published: 0228 GMT July 09, 2017

Iran, Turkey studying free trade regime

Iran, Turkey studying free trade regime

Iran is working on a plan to establish a free trade regime with Turkey.

Iran's Minister of Information and Communications Technology Mahmoud Vaezi announced this following a meeting with visiting Turkish Minister of Economy Nihat Zeybekci, Press TV reported.

Vaezi told reporters that the plan to establish free trade between Iran and Turkey would be based on an agreement to remove preferential tariffs signed by the two countries in 2015.

The minister underlined that Tehran and Ankara needed to enhance banking cooperation to facilitate the expansion of trade.

He said that the two countries had agreed to study the mechanisms to use national currencies in trade between the two countries.

The Iranian minister said these topics that would be dealt with in further details during an upcoming visit to Tehran by the governor of the central bank of Turkey.

Vaezi added that Tehran had a positive attitude toward the expansion of trade relations with Turkey.

He said Tehran and Ankara had already taken measures to materialize the mutual trade objectives that they had agreed on during earlier meetings between the presidents of the two countries.

Vaezi, who co-chairs the joint Iran-Turkey Economic Commission with Zeybekci, said that trade between the two countries should rise to $30 billion per year.

He told reporters that he had explored the avenues for the materialization of that objective in his meeting with the Turkish economy minister.

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