#

Turkey-Iran Economic and Trade Relations

Bilateral Trade

Iran, as a neighboring country, is one of the traditional trading partners of Turkey.
Since the start of the natural gas imports from Iran to Turkey in 2001, the figure has grown steadily until 2008, reaching 10.2 billion $.

Due to effects of the global economic crisis, Iranian exports dropped steeply in 2009 by almost 60%, whereas Turkish exports remained stagnant in comparison to the corresponding figures of the previous year. In 2010, the trade volume rebounded and reached its peak with 10.6 billion $.  In 2011 it is expected to reach 15 billion $. Turkish and Iranian authorities confirmed their intention to double the volume by 2015.

On the other hand, the trade balance is growing in favor of Iran since 1993, increasing more steeply since the first purchase of natural gas from Iran in 2001.

Statistics

(.000 $)


YEARS

EXPORTS

IMPORTS

VOLUME

BALANCE

2000

235.784

815.730

1.051.514

-579.945

2001

360.535

839.800

1.200.335

-479.264

2002

333.962

920.971

1.254.933

-587.009

2003

533.786

1.860.682

2.394.469

-1.326.896

2004

813.031

1.962.058

2.775.089

-1.149.027

2005

912.940

3.469.705

4.382.645

-2.556.765

2006

1.066.901

5.626.610

6.693.511

-4.559.708

2007

1.441.190

6.615.393

8.056.583

-5.174.203

2008

2.029.759

8.199.688

10.229.448

-6.169.929

2009

2.024.863

3.405.985

5.430.848

-1.381.122

2010

3.042.957

7.644.782

10.687.739

-4.601.825

Main Commodities Subject to Trade

Turkish exports to Iran are mainly machinery, motor vehicles, iron and steel products, boilers, electric devices, tobacco products. Crude oil and natural gas dominate Iranian exports to Turkey with 90%.

Investments

In the last ten years, direct investments in Turkey from Iran exceeded 110 million $.

Legal Framework

Agreement on Reciprocal Promotion and Protection of Investments, Agreement on Avoidance of Double Taxation, International Road Transport Agreement and Agreement on Cooperation and Mutual Assistance in Customs Matters are in force.