The value of trade between Iran and Turkey surpassed USD 20.8 billion in the first 11 months of 2012, which was a rise of 40% compared to the same period in 2011.
The Turkish Statistical Institute said that Turkey’s exports to Iran amounted to USD 7 billion in the aforementioned period, mainly due to exports of gold to Iran.
However, oil, gas and petrochemicals accounted for the lion’s share of Iran’s exports to Turkey.
On December 11th 2012, Iran’s ambassador to Turkey said that the value of trade between Tehran and Ankara could potentially increase fivefold to as high as USD 100 billion a year.
Ambassador Mr Bahman Hosseinpour added that ample investment opportunities await Turkish investors in Iran.
Bilateral trade exceeded USD 16 billion in 2011, and the two countries plan to increase the volume of their bilateral trade to USD 30 billion by 2015.
