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Iran, Turkey Ink Deal to Build Industrial Park

14 June 2016 14:42

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Iran and Turkey have signed an agreement to construct an industrial park in Iran in a bid to boost mutual cooperation between the two neighboring countries.

High-ranking officials from Istanbul Chamber of Industry, Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) and Iran Small Industries and Industrial Parks Organization (ISIPO) signed the trilateral agreement on Monday night.

The industrial park planned to be built by the Turkish contractor would include 140 units, according to media reports.

Back in April, Iran and Turkey signed eight memorandums of understanding (MoUs) to strengthen bilateral cooperation in various areas.

The cooperation documents were signed in a ceremony in Ankara on April 16, attended by Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyib Erdogan.

The documents covered a range of fields, including higher education, social security, plant maintenance services and standardization.

Iran and Turkey have ramped up efforts in recent months to boost bilateral trade after implementation of the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

The deal took effect on January 16, terminating all nuclear-related sanctions on Iran.

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