News ID: 173052
Published: 0258 GMT December 02, 2016

Turkmenistan, Iran to deepen interaction

Turkmenistan, Iran to deepen interaction

Iran and Turkmenistan intend to boost cooperation in the economic field including energy, transport and trade.

Turkmen Foreign Minister Rashid Meredov announced this in a meeting with Iran's Deputy Foreign Minister for Asia-Pacific Affairs Ebrahim Rahimpur, Trend News Agency reported.

Both sides noted the significant potential for deepening and diversifying trade between the two countries.

Iran and Turkmenistan border the Caspian Sea and share a joint frontiers of over 1,000 km.

Iran is Turkmenistan's third largest partner in foreign trade primarily due to natural gas purchases.

In turn, Turkmenistan imports raw materials, building materials, steel products and inorganic chemicals, plastic products, rubber, detergents, food and other consumer goods from Iran.

The Iran-Turkmenistan-Kazakhstan railway project, which was designed to intensify trade and economic ties in the Eurasian space, also plays a significant role in relations between the two countries.

The railway route Uzen-Gyzylgaya-Bereket-Etrek-Gorgan was commissioned in December 2014. The railway is designed to facilitate the optimization of cargo traffic throughout Eurasia.

Trade between Turkmenistan and Iran exceeded $2.62 billion in 2015, according to official figures.

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