Iran plans to raise annual trade with Turkmenistan to $5bln
Iran’s ambassador to Turkmenistan says efforts are underway to increase the annual trade volume between the two neighbors to $5 billion.
Speaking at a seminar on trade opportunities with Turkmenistan in Bojnourd, North Khorasan Province, in northeast Iran on Saturday, Ali-Mojtaba Roozbahani said that while Iran’s current exports to Turkmenistan amount to approximately $100 million, plans are in place to boost annual trade to $3 billion or even $5 billion, depending on favorable conditions.
He noted that bilateral trade between the two countries has been steadily increasing, with current exchanges reaching $500 million.
Citing stable political relations, the ambassador emphasized that Iran and Turkmenistan share secure borders, along with cultural, linguistic, and ethnic similarities, which form a strong foundation for deeper cooperation.
Roozbahani also outlined plans to open two Iranian banks in Turkmenistan, stating, “These banks are intended to facilitate financial transactions, including those in rials, and facilitate smoother trade operations.”
Regarding visa policies, he said that while Turkmenistan maintains strict entry rules for many countries, procedures for Iranian nationals have been significantly eased.
The ambassador further called for specialized trade exhibitions in both countries and urged greater academic exchanges between border provinces to foster stronger economic ties./Mehr