Turkey hopes to boost trade after sanctions on Iran eased

After the deal was reached between Iran and the six world powers on curbing Iran’s nuclear ambitions in exchange for easing economic sanctions on the country Turkey has grown hopes to boost trade with this country.

Turkey which has experienced a hard time trying to find new foreign markets to make up for its revenue losses in the declining European markets, is now glad to be facing the opportunity of increasing trade with Iran, its neighbor country.

In fact it was also clearly expressed by Turkey’s Economy Minister on Monday that Turkey hoped to make the most of the next six months and increase its trade with this country.

The figures say that Turkey has suffered a loss of $6 billion in the first nine months of 2013, as compared to last year, simply because some trade embargoes were imposed on Iran. Iran has mostly been one of the best trade partners for Turkey and in fact Turkey’s exports to Iran in 2012 are reported to have been somewhere round $10 billion.

Thus the new political situation is will enable Turkey start exporting all its goods to Iran again among which one can name many commercial goods to include gold. In fact, Turkey is known to be exporting more than 20,000 products to Iran currently and now hopes to make the most of these next six months.

25.11.2013
Editor