Envoy Puts Iran’s Annual Trade with Turkey at $15bln

Iran’s bilateral trade with its Western neighbor Turkey will reach $15 billion this year, according to Iranian Ambassador to Turkey Bahman Hosseinpour.

The value of goods and services traded between the two countries totaled $10.6 billion during the first eight months of 2011, Hosseinpour said.

Iran gains access to world markets via Turkish companies despite sanctions by the United States. The total number of the Iranian firms in Turkey reached 1,470 by the end the last year. This figure was 319 between 1954 and 2002. Bilateral trade between Iran and Turkey reached $10.55 billion by the end of September, according to Turkish Statistical Institute data.

Iran exported $2.33bln worth of goods to Turkey in the first nine months of the year, while imports from Turkey reached $8.22bln.

Turkey plans to open new border gates with its eastern neighbors Iran and Georgia due to the increase in trade with these countries.