Economy News – Follow-up
According to the Iranian ambassador to Turkey, bilateral trade between Iran and Turkey reached $11.8 billion last year. This figure has surpassed $17.5 billion by February of this year and is anticipated to achieve a total of $19 billion by the end of March.
In a virtual session of the Joint Committee for Transport between Iran and Turkey, Ambassador Muhammad Hussein Habib emphasized the significance of enhancing transit capabilities. He noted that transit and transportation between the two nations experienced a notable increase of $7 billion in 2024.
Habib underlined the pressing need for substantial advancements in infrastructure across various sectors, including railways, aviation, maritime transport, and ports.
He also reported that last year, 6 million passengers and approximately 330,000 trucks made the journey between Iran and Turkey, highlighting the robust bilateral trade and logistical responsibilities between the two nations.
Additionally, Habib Allah Zadeh announced plans to increase the number of border crossings between Iran and Turkey from three to five. Future initiatives will focus on developing railway systems and expanding flight options.
During the meeting, Saeed Rasouli, the Iranian Deputy Minister of Transport, emphasized the strategic geographical advantage of Iran and Turkey within the southern naval corridor of the Caspian Sea, linking China to Europe. He indicated that transit will play a crucial role in ongoing discussions between the Iranian and Turkish transport ministers.
An array of other topics were addressed, including the launch of a passenger train service between Tehran and Fawn, with considerations for extending this route to Ankara and Istanbul. Moreover, improving freight transportation via railways and addressing the status of unutilized vehicles between these countries were prioritized in the discussions.
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