Iran, Turkmenistan Hold Economic Consortium to Bolster Economic, Trade Cooperation
The establishment of the consortium has been met with broad support from economic operators and provides a valuable opportunity to streamline trade, facilitate investment, and remove commercial barriers between the two nations, said Ramezan Bahrami, the head of the Iran-Turkmenistan Joint Chamber of Commerce.
He underlined the consortium’s role in fostering sustainable trade relations, describing it as an effective tool for increasing exports, attracting investment, and easing economic interactions, noting that the initiative creates a structured platform for Iranian businesses to enter the Turkmen market strategically and unlocks new opportunities for bilateral cooperation.
Bahrami added that the consortium, developed with private-sector participation under the framework of the Iran-Turkmenistan Joint Chamber of Commerce, is expected to expand trade volume, reduce business costs, and strengthen regional economic ties.
He also welcomed the broad participation of Iranian companies in the initiative, saying their involvement would pave the way for sustainable trade growth and facilitate access to Central Asian markets.
Tehran announced that the value of Iran’s export to Turkmenistan witnessed a 14.6% rise in the first half of the current Persian calendar year (ending on March 20) compared to the same period last year.
Spokesman of the International Relations and Trade Development Committee of Iran's House of Industry, Mining and Trade Rouhollah Latifi made the remarks, saying that Iran exported 702,000 tons of commodities worth $239.879 million to Turkmenistan in the six-month period which shows 12.1% increase compared to the previous year in terms of weight.
Agricultural and food products, medicine, household appliances, construction materials, electrical appliances, industrial equipment, plastic, consumer goods, and machinery were among the goods exported to Turkmenistan in the mentioned period, he added.
Based on customs data, Iran also imported 10,000 tons of goods valued at $12,285,660 in the first half of the current Iranian year, and the main imported goods were textiles, cloth, and yarn.
Latifi noted that Iran exported 1.359 million tons of commodities worth $445.17 million to Turkmenistan in the previous Iranian calendar year, most of which were agricultural and dairy products.
He added that last year, over 38,000 tons of goods valued at $38.657 million were also imported from Turkmenistan.
