TEHRAN - Iran’s Minister of Transport and Urban Development Mehrdad Bazrpash said the meeting of the Iran-Turkey Joint Economic Committee will be held in Tehran in the coming weeks.

Bazrpash, who heads the Iran-Turkey Joint Economic Committee made the announcement after a meeting with the chairman of the Iran-Turkey Parliamentary Friendship Group.

The official said Turkey is an important country in the region and has established good relations with the Islamic Republic in all areas, IRIB reported.

Given the policy taken by the administration of President Ebrahim Raisi regarding the development of relations with the neighbors, Iran is determined to facilitate the trade exchanges between traders of the two countries, he said.

Bazrpash noted that Iran and Turkey have forged extensive trade relations through the four border terminals of Sero, Razi, Bazargan, and Kouzehrash.

Considering the situation of the two countries in accessing European markets and high seas, the officials in Tehran and Ankara have targeted an annual $30 billion trade, Iran’s Transport Minister added.

He went on to say that Turkey is a very safe route for Iran to access the European markets, adding that the completion of the construction operation of the International East-West International Corridor and South-Northwest Corridor can create unique opportunities for the growth of transit.

The chairman of the Iran-Turkey Parliamentary Friendship Group, for his part, highlighted Turkey's resolve to reach an annual $30 billion trade with Iran and increase the number of tourists between the two countries from three million to five million people per year.

Kayhan Turkmenoglu expressed hope that bilateral trade and economic relations would develop more than ever.

The trade exchanges between Iran and Turkey in the first three months of 2024 reached $1.362 billion, registering a 16 percent decline compared to the same period last year.

According to the latest figures released by the Turkish Statistical Institute (TURKSTAT), Iran’s trade with the neighboring country stood at $1.635 million in January-March 2023.

According to TURKSTAT, Turkey’s exports to Iran in the mentioned three months reached $817 million, recording a 16 percent increase compared to last year’s corresponding period.

Turkey exported over $701 million worth of products to the Islamic Republic in the first three months of 2023.

Turkey’s imports from Iran however registered a 41 percent decline and fell from $934 million in January-March 2023 to $547 million in the first quarter of 2024.

The trade exchange between Iran and Turkey stood at $5.490 billion in 2023 with a decrease of 14 percent.

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