ANKARA (Sputnik) — According to the minister, trade between Iran and Turkey reached $10 billion in 2015 with plans to increase this figure to $30 billion in the short-term.
“We believe the economic relations between Turkey and Iran will gain significant momentum with the lifting of the sanctions,” Tufenkci noted, as quoted by the Anadolu Agency.
Tufenkci pointed out that the Gurbulak-Bazargan customs border point, the largest overland crossing between Iran and Turkey, will be rebuilt soon.
On July 14, 2015, Iran and the P5+1 group of countries comprising Russia, the United States, China, France and the United Kingdom plus Germany, signed the Joint Comprehensive Plan of Action (JCPOA). The agreement guarantees the peaceful nature of Iran's nuclear program in exchange for sanctions relief.
In January, the International Atomic Energy Agency (IAEA) verified that Iran was in compliance with the terms of the JCPOA, which led to the immediate lifting of the UN, US and EU sanctions linked to the country's nuclear program.
