Iran and Türkiye Ink $30 Billion Trade Goal MoU During Economic Cooperation Meeting

Iran and Türkiye Ink $30 Billion Trade Goal MoU During Economic Cooperation Meeting

Tehran, The Gulf Observer: Iran and Türkiye have signed a Memorandum of Understanding (MoU) to significantly enhance bilateral trade, setting an ambitious target of $30 billion in trade volume over the next five years. The agreement was finalized during the 29th Joint Economic Cooperation Commission meeting held in Tehran, with Iran’s Minister of Roads and Urban Development and Türkiye’s Minister of Trade in attendance.

Amineh Tarfa’a, head of the International Affairs Center at Iran’s Ministry of Roads and Urban Development, stated that the three-day meeting concluded with a comprehensive MoU covering a wide range of sectors, including trade, transport, customs, transit, investment, banking, electricity, agriculture, culture, tourism, and cooperation.

The agreement seeks to deepen existing ties, particularly in the transport sector, where both countries have established strong relations, especially in road transportation.

Trade between Iran and Türkiye currently stands at $11.7 billion, with the newly signed MoU outlining a strategic roadmap to nearly triple this figure within five years. The plan underscores the commitment of both nations to strengthen economic, cultural, and infrastructural cooperation.

The meeting and the resulting agreement reflect the mutual determination to elevate Iran-Türkiye relations to new heights, fostering closer collaboration across multiple domains.