Iran, Turkey seek to boost annual trade to $35b

[-SINAN-]

Iran and Turkey have called for their annual trade exchanges to soar to USD35 billion from the current USD22 billion.

The agreement was reached on Tuesday in a meeting between Iran’s Deputy Minister of Economy Abbas Memarnejad and his Turkish counterpart Cemalettin Damlaci, who is in Tehran on a state visit.

“The volume of Iran-Turkey trade exchanges reached roughly USD16 billion in 2011, and soared past USD22 billion by the end of 2012. Given the upward trend in trade ties between the two countries, the figure USD35 billion would not be out of reach,” Damlaci was quoted as saying.

The Turkish official added that in 2012, Iran exported USD12 billion worth of products to Turkey in return for USD10 billion dollars of imports.

Memarnejad, for his part, gave an upbeat assessment of growing trade between the two countries.

“...We hope that all organs involved in foreign trade would undertake efforts for the realization of the determined objectives, particularly enhancing the volume of trade exchanges between the two countries to USD35 billion a year,” the Iranian official said.


In January, Iran’s Ambassador to Turkey Bahman Hosseinpour said the volume of trade transactions between Tehran and Ankara can reach as high as USD100 billion per year.

According to official data released in November 2012, Iran was the third major trade partner of Turkey in the first three quarters of 2012.

Turkey’s imports from Iran hit their highest monthly total in March 2012 with over USD1.63 billion.

Meanwhile, the highest monthly exports from Turkey to Iran were recorded in July 2012 with a total of more than USD2.15 billion.

PressTV - Iran, Turkey seek to boost annual trade to $35b
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Main Commodities Subject to Trade

Turkish exports to Iran are mainly machinery, motor vehicles, iron and steel products, boilers, electric devices, tobacco products. Crude oil and natural gas dominate Iranian exports to Turkey with 90%.

Turkey-Iran Economic and Trade Relations / Rep. of Turkey Ministry of Foreign Affairs

 

[Serpentine]

That's huge! From around $2b in 2002 to $35b, very promising.

 

[Sam1980]

Main Commodities Subject to Trade

Turkish exports to Iran are mainly machinery, motor vehicles, iron and steel products, boilers, electric devices, tobacco products. Crude oil and natural gas dominate Iranian exports to Turkey with 90%.

Hmm... actually that is completely wrong, Turkish exports to Iran are mainly textile, and home furniture to some extent, Iran import of other goods from Turkey accumulate for less than 60 million dollars.

To be honest I don't find this news realistic at all, only maybe if Iran wants to buy half of the gold Turkey produces annually!

 

[iranigirl2]

yek keshvari keh az sanctionhay iran soo estefadeh mikoneh Torkiyeh hastish.


albateh in list khili deraz hastish.

 

[Abii]

Hmm... actually that is completely wrong, Turkish exports to Iran are mainly textile, and home furniture to some extent, Iran import of other goods from Turkey accumulate for less than 60 million dollars.

To be honest I don't find this news realistic at all, only maybe if Iran wants to buy half of the gold Turkey produces annually!

Turkey's construction sector is huge. I wouldn't be surprised if they export machinery to Iran for the construction industry.

We need data.

I found this site, but it doesn't give the info by country
TP_IP_CI

 

[-SINAN-]

Hmm... actually that is completely wrong, Turkish exports to Iran are mainly textile, and home furniture to some extent, Iran import of other goods from Turkey accumulate for less than 60 million dollars.

You would be surprised my friend. A few moths ago there was a report indicating that Turkey exported 1.9$ value of nuclear reactor parts to Germany.

And the info regarded to "Turkey's Main Commodities Subject to Trade" provided by government. If you want to object, show me your info.

To be honest I don't find this news realistic at all, only maybe if Iran wants to buy half of the gold Turkey produces annually!

Year Trade (in billion $)

2000 $ 1
2001 $ 1.2
2002 $ 1.25
2003 $ 2.4
2004 $ 2.8
2005 $ 4.4
2006 $ 6.7
2007 $ 8
2008 $ 10.2
2009 $ 5.4
2010 $ 10.7
2011 $ 15
2012 $ 22

I think we will see $35 billion trade in the next 5 years.

yek keshvari keh az sanctionhay iran soo estefadeh mikoneh Torkiyeh hastish.
albateh in list khili deraz hastish.

English please ?

 

[Yzd Khalifa]

As long as Turkey benefits from it then everything is fine, I doubt Turkey would sell a highly sophisticated stuff though due to many reasons.

 

[-SINAN-]

Turkey's construction sector is huge. I wouldn't be surprised if they export machinery to Iran for the construction industry.

We need data.

I found this site, but it doesn't give the info by country
TP_IP_CI

Exports

Iran was Turkey’s 3st largest goods export market in 2012.

Turkish goods exports to Iran in 2012 were 9,9 billion $, up 176% (3,5 billion $) from 2011, and up 2652% from 2001.

The top export categories (2-digit SITC) for 2012 were: gold and golden plated silver (6,528 billion $); iron and steel (629 million $); textile yarn, fabrics (226 million $); land transportation vehicles (209 million $) electrical machinery, apparatus and appliances (171 million $)



Imports

Iran was Turkey’s 6th largest supplier of goods imports in 2012.

Turkey imported goods from Iran 11,4 billion $ in 2012, up 63% (12,5 billion $) from 2011, and up 1.324% from 2001.

The top 5 imports categories (2-digit SITC) for 2012 were: coal and raw petroleum materials; natural gas, plastics in primary forms (456 million $); metals other than iron (432 million $) organic chemicals (103 million $).

Republic of Turkey Ministry of Economy

 

[Abii]

As long as Turkey benefits from it then everything is fine, I doubt Turkey would sell a highly sophisticated stuff though due to many reasons.

whenever you get bored, go and build a suicide belt. I hear that's in high demand in sandistan. This way you'll save us from having to read your wahabi comments and you'll make some money as well. It's a win-win situation.

yek keshvari keh az sanctionhay iran soo estefadeh mikoneh Torkiyeh hastish.


albateh in list khili deraz hastish.

rahe halesh KHEILY sadast

 

[BronzePlaque]

Good news..No matter what other people say, i think good economic relation i.e. growing trade figures etc is key to prosperity and stability in the region...There is a reason why Turkey and Iran border is one of the oldest border that only changed very few times

 

[Abii]

Good news..No matter what other people say, i think good economic relation i.e. growing trade figures etc is key to prosperity and stability in the region...There is a reason why Turkey and Iran border is one of the oldest border that only changed very few times

looooool
love your signature

 

[Esfand]

rahe halesh KHEILY sadast

Joking aside (and not to derail the thread..), but it would be interesting to estimate how much of Iran's technical machinery import it would be able to produce by itself, had it not been drained for many engineers and scientists.

 

[Yzd Khalifa]

Sorry man, I'm a cereal killer LoLz not a Vahabi

whenever you get bored, go and build a suicide belt. I hear that's in high demand in sandistan. This way you'll save us from having to read your wahabi comments and you'll make some money as well. It's a win-win situation.

 

[-SINAN-]

Turkey's construction sector is huge. I wouldn't be surprised if they export machinery to Iran for the construction industry.

We need data.

Contracting and Consultancy Services

Although Iran’s construction sector is in a recession in 2011, Iran has a great potential for infrastructure construction and consultancy service trade. Government expedites the number of public housing projects and declares new projects for industrial zones.

Turkish firms held 44 projects in Iran with a total value of 4,6 billion $ until the end of May 2013

Republic of Turkey Ministry of Economy

 

[olcayto]

yek keshvari keh az sanctionhay iran soo estefadeh mikoneh Torkiyeh hastish.


albateh in list khili deraz hastish.

Can any Iranian translate this?