Iran-Turkey trade exceeds $ 4.7 bn in 4 months

Jun 08, 2011 12:00 AM

The value of trade between Iran and Turkey surpassed 4.7 bn during the first four months of 2011.
The amount shows 76.22 % increase in comparison to the same period previous year. The two countries’ trade value stood at $ 10.6 bn in 2010, which was 97 % more than 2009.

Previously, Turkish Statistical Institute reported that the two countries’ trade value will surpass $ 15 bn in 2011 by enforcing the signed preferential trade agreement.
President Mahmoud Ahmadinejad in February announced that the value of trade between Iran and Turkey will reach $ 30 bn during Iranian calendar year 1390 (to end March 20, 2012).

Ahmadinejad made the remarks during a joint press conference with Turkish President Abdullah Gul.
“The value of trade exchanges between the two countries surpassed $ 10 bn last year and we are determined to increase it to $ 30 bn through comprehensive cooperation,” Ahmadinejad stated.

Iran was Turkey’s first crude oil supplier in the first three months of 2011, Turkey's Energy Market Regulatory Authority (EPDK) said in a report. Iran exported over 1.8 mm tons of crude oil to its neighbouring country during the mentioned period, accounting for 30 % of Turkey’s crude imports.
Turkey's oil imports reached a total of 4.295 mm tons in the mentioned time span. Iran also is Turkey’s second natural gas supplier after Russia.

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