News ID: 272658
Published: 0215 GMT August 09, 2020

Joint chamber head: Iran after erasing trade deficit with Turkey

Joint chamber head: Iran after erasing trade deficit with Turkey

Iran is making effort to make up the four-month trade deficit with neighboring Turkey which was created as a result of the former’s lower exports due to the coronavirus spread across the globe, said the chairman of Iran-Turkey Joint Chamber of Commerce.

“We are making effort to fill the trade gap with Turkey,” Mehrdad Sa’adat added commenting on the latest conditions of Iranian trucks at border crossings with Turkey and the impact of the coronavirus outbreak on trade exchanges between the two countries, reported Mehr News Agency.

At present, Iranian trucks have formed long queues at the border crossings with Turkey, he stressed.

Turkey refrains from allowing entry by more Iranian trucks due to the outbreak, Sa’adat said, adding, talks are underway with Turkish officials to increase the number of the Iranian trucks entering Turkey.

This comes as Turkey has been Iran’s fifth main export destination in the first four months of current Iranian calendar year (March 21- July 22, 2020), importing 43,000 tons of products, valued at $405 million, from its eastern neighbor, he noted.

According to statistics by the Islamic Republic of Iran Customs Administration (IRICA), Turkey accounted for five percent of Iran’s total non-oil exports in this period.

Commenting on Iran’s imports of Turkish products in the same time span, Sa’adat said, the country imported 1.87 million tons of products, valued at over $1.17 billion, from Turkey.

In the four-month period, Iran was Turkey’s third main target market. Turkey accounted for about 11 percent of Iran’s total imports in this period.

Sa’adat put Iran’s trade balance with Turkey in the four-month period at minus $773 million.

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