Iran-Turkmenistan To Increase Value Of Trade To $10b

Tehran, July 20, IRNA – A review of the trend of mutual cooperation between Iran and Turkmenistan shows that the two countries’ businessmen and merchants are considering a 100-percent growth in the value of trade transactions in a bid to reach the figure of $10 billion. The current value of annual trade transactions between Iran and Turkmenistan is $5 billion while the same figure equaled $1.3 billion in the year 2006. Iran ranks second after Russia as Turkmenistan’s trade partner. The investigation of trade transactions with 158 world countries in the first quarter of the current Iranian year (started March 21) showed Iran’s positive trade balance with Iraq, Afghanistan, Turkmenistan, Egypt and Republic of Azerbaijan. A recent report by Iran’s Trade Promotion Organization on Iran-Turkmenistan relations in a ten-year period from 2001 to 2012 showed that the two countries have held six mutual cooperation meetings. The most important documents exchanged between Iran and Turkmenistan is trade agreement, agreement on encouraging and supporting investment, agreement on avoiding receiving taxes and Memorandum of Understanding (MoUs). Iranian Vice-President of International Affairs Ali Saeedlou visited Ashgabat (Turkmenistan’s capital) in March to inaugurate Iran’s seventh specialized exhibition in Turkmenistan while holding such exhibitions are on the two countries’ agenda./end