Tehran, Ankara urged to establish preferential trade agreement

TEHRAN – Iran’s Minister of Industry, Mining, and Trade Mohammad Atabak has emphasized that enhancing trade between Iran and Turkey requires the establishment of a preferential trade agreement and the removal of tariff restrictions.

During a meeting with Turkish Trade Minister Omer Bolat and his accompanying delegation on Wednesday, Atabak pointed out that the trade potential between Tehran and Ankara surpasses the current volume of exchanges.

He stressed that implementing bilateral agreements, reviving preferential trade, and strengthening interactions would serve as the foundation for increasing bilateral trade, IRNA reported.

Atabak noted that the economic relations between Iran and Turkey, underpinned by deep cultural and historical ties, should yield a higher volume of trade.

The Iranian minister expressed optimism about progress in the joint cooperation framework between the two countries and referred to it as a crucial step toward boosting trade between the capitals. He added that the initial phase of this cooperation, in line with the terms of the two countries’ Joint Economic Committee, would significantly enhance trade relations.

In response to a request from Bolat concerning border crossings, Atabak highlighted that Iran’s government is working on a comprehensive plan to expand operations and extend working hours at border crossings and transit routes.

The official further emphasized that increasing trade would accelerate the implementation of facilitative trade programs. The roadmap developed in collaboration with Iran’s Trade Promotion Organization (TPO) would be pivotal in advancing the execution of these plans and deepening bilateral ties.

Atabak also welcomed the formation of specialized committees to address bilateral issues, stressing that most trade-related challenges could be resolved through the Trade Promotion Organization. He elaborated on the preferential trade agreement between the two countries, suggesting that its terms could be revisited to expand preferential trade volumes.

As a further step in improving bilateral trade, Atabak underscored the importance of joint border committees to address border issues and streamline goods exchange between the neighboring countries. He also highlighted the need to remove certain tariff barriers to increase trade flows.

Concluding, Atabak reiterated Iran’s readiness to expand cooperation with Turkey, emphasizing the industrial advantages of both countries in joint production.

Turkey invites Iran to attend next year’s ECO summit

On the Turkish side, Minister Bolat acknowledged that the current trade volume between the two nations does not meet expectations. He expressed confidence that with the revised cooperation framework and agreements with Iran’s Trade Promotion Organization, economic exchanges between the two countries would accelerate.

He also extended an invitation to Atabak to attend the next Economic Cooperation Organization (ECO) summit, scheduled to be hosted by Turkey in the spring of 2025. He emphasized the importance of deepening trade and economic ties within the framework of bilateral agreements, particularly focusing on collaboration among Islamic countries.

Bolat identified the joint development of border crossings, transportation routes, removal of transit restrictions, and tariff barriers as key components of further strengthening Iran-Turkey cooperation.

The upcoming ECO summit will bring together the ministers of member countries and will be hosted by Turkey in the spring of 2025.

EF/MA