Tehran, Ankara set to establish high-level economic cooperation council

TEHRAN,Jan.6(MNA) – Iran and Ankara decided to establish a high-level cooperation council with an eye to improve bilateral economic relations. Turkish Foreign Minister Ahmet Davutoglu met with his Iranian counterpart Mohammad Javad Zarif in Istanbul on Saturday. The Turkish foreign minister said the two countries aim at increasing bilateral trade up to $30 billion by 2015 and raise it to $50 billion, while the necessary legal framework is being set. Zarif, for his part, said the $30-billion trade target was “achievable and a must” for the two countries, while urging a boost in bilateral relations, especially in energy, trade, and transportation fields. On December 29, Turkish ambassador to Tehran Umit Yardim said Iran and Turkey have set a long-term target of $100 billion for annual bilateral trade. The Iran-Turkey trade declined to $16 billion in 2013 from $22 billion in 2012.