(MENAFN- The Journal Of Turkish Weekly) Turkish President Recep Tayyip Erdogan's visit to Iran will accelerate expansion of trade, Riza Eser, chairman of the Turkey € Iran business council executive board said on Monday.
The two neighbors aim to reach $30 billion in annual bilateral trade by the end of the year, he added.
Turkey's President Recep Tayyip Erdogan will visit Tehran for high level meetings on Tuesday.
Eser noted that President Erdogan's visit to Iran was timely since it came "after a historic nuclear framework agreement between Iran and world powers on Thursday."
"We are pleased with the visit as businessmen," he said.
Last Thursday evening, Iran and the P5+1 group of world powers - the U.S., China, France, Russia, the U.K. and Germany - unveiled a preliminary framework for talks aimed at curbing Tehran's nuclear program and eliminating Western-imposed sanctions.
They have set themselves a June 30 deadline for reaching a deal.
Turkish exports to Iran have been adversely affected by the Western sanctions aimed at preventing Tehran from developing a nuclear weapon
Still, the trade volume between Iran and Turkey was $22 billion in 2012 compared with $1 billion in 2000. It stood at $13.7 billion last year.
Turkish exports to Iran are mainly machinery, motor vehicles, iron and steel products, boilers, electric devices, tobacco products.
Ninety percent of Iranian exports to Turkey consist of crude oil and natural gas.
There are more than 100 Turkish companies, mainly export-import, operating in Iran.
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