Iran-Turkey trade shoots up in 2013

The value of trade between Iran and Turkey jumped sharply in 2013 compared to the past decade ending 2012.

Turkey’s exports to Iran amounted to $4 billion in 2013, while the figure totaled $800 million in the ten-year period ending 2012, Murat Akyüz, the chairman of Turkish Exporters Assembly said in Tehran on Saturday.

He added that Turkey’s imports from Iran soared to $10 billion in 2013 from a total of $1.9 billion over the past ten years ending 2012, IRNA reported.

Iran is the 10th largest importer of goods from Turkey and the 7th largest exporter of goods to the country, he explained.

Turkey exported mainly jewelry and precious stones, mechanical machinery, as well as plastic and wood products to Iran, Akyüz stated.

On April 15, Tehran and Ankara set a target of $30 billion for annual trade at the 24th meeting of Iran-Turkey Joint Economic Committee which was held in Tehran.

Iran and Turkey have signed a preferential trade agreement which could pave the way for a hike in the bilateral trade. The agreement was signed during Turkish Prime Minister Recep Tayyip Erdogan’s visit to Iran in January. At the time, Erdogan said the goal is to boost trade between the two neighbors to $30 billion by 2015.

In December 2013, the Ankara ambassador to Tehran said Iran and Turkey have set a long-term target of $100 billion for annual trade transactions.