Tasnim - The value of trade exchange between Iran and Turkey is expected to surpass $12 billion this year, an Iranian official said.


Speaking at a press conference in Iran�s northwestern city of Tabriz, chairman of Iran-Turkey joint chamber of commerce, Reza Kami, said the two neighbors enjoy an acceptable amount of bilateral trade in spite of all political ups and downs.

He said the trade exchange between Iran and Turkey is predicted to exceed $12 billion this year.

The main obstacles to trade ties between Iran and Turkey are the banking issues and the transfer of money, so the private sectors should open up a joint bank in order to accelerate the currency transfer between the two sides, Kami further said, adding that Turks have fortunately approved the idea.

Iran was ranked 19th in the list of top export destinations of Turkey and has been reported as the 7th major source of imports to Turkey in the first five months of 2018.

Iran and Turkey have set a $30-billion annual trade target, signing several agreements to enhance cooperation in various areas.

In October 2017, Turkish President Recep Tayyib Erdogan visited Iran to attend the fourth round of strategic meetings between Iran and Turkey.