TEHRAN – Turkey's Minister of Trade emphasized the importance of expanding economic relations and cooperation between the Islamic Republic of Iran and Turkey, IRNA reported.

According to Iran’s Ministry of Transport and Urban Development, Ömer Bolat, speaking at a joint press conference with his Iranian counterpart on Monday, highlighted the 29th meeting of the Iran-Turkey Joint Economic Committee and the signing of a memorandum of understanding.

He mentioned the goal of increasing bilateral trade to $30 billion and noted that trade between the two countries had grown in 2024, with Turkish companies investing approximately $2 billion in Iran.

Bolat also pointed to other agreements reached during the meeting, including the renovation and reconstruction of border crossings on the Turkish side, measures to facilitate smoother transportation between the two nations, and the development of trade, transport, and transit relations.

The Iranian delegation, led by Farzaneh Sadegh, traveled to Ankara on Monday (January 27) for bilateral meetings with Turkey's ministers of transport and trade.

On December 11, a trade cooperation memorandum of understanding was signed between Iran and Turkey in the presence of Iran’s Minister of Transport and Urban Development and Turkey’s Minister of Trade. Both sides emphasized their commitment to increasing bilateral trade to $30 billion over the next five years.

EF/MA