Tehran and Ashgabat plan to increase mutual trade volume by 5 times
The 18th meeting of the Intergovernmental Turkmen-Iranian Commission on Economic Cooperation was held in Tehran on May 19-20 under the leadership of co-chairs - Minister of Foreign Affairs of Turkmenistan Rashid Meredov and Minister of Roads and Urban Development of the Islamic Republic of Iran Farzaneh Sadegh.
The parties thoroughly considered the development of relations in the trade and economic sector, in the field of transport and logistics, gas industry, industry, agriculture and water management, in the field of investment and standardization, and also analyzed the implementation of the decisions of the previous meeting of the IGC. Particular attention was paid to the creation of border trade and economic zones.
As noted, the volume of bilateral trade between the two countries in 2024 reached $ 600 million, which is more than the previous year. It was proposed to develop a three-year roadmap aimed at increasing trade turnover between Tehran and Ashgabat to $3 billion by 2028.
According to the Iranian Nournews agency, by 2028 the parties intend to annually transit 20 million tons of goods through their territories.
As part of the visit of the delegation of Turkmenistan, bilateral meetings were held between Rashid Meredov and Iranian Energy Minister Abbas Aliabadi, as well as Oil Minister Mohsen Pahnejad, according to a press release from the Turkmen Foreign Ministry.
In particular, Iranian media reported that the parties agreed to accelerate the completion of the third Mashhad-Mary power transmission line, one of the most important energy cooperation projects between the two neighbors.
On the sidelines of the 18th meeting of the Joint Economic Commission between Turkmenistan and Iran, a meeting was also held between Turkmen Foreign Minister Rashid Meredov and his Iranian counterpart Seyed Abbas Araghchi. The ministers exchanged views on the progress of the Joint Economic Commission, expressing hope that the agreements reached will contribute to the expansion of economic cooperation and exchanges between Iran and Turkmenistan. The parties also touched upon issues of cooperation within international organizations and mutual support of initiatives.
ORIENT
