Iran, Turkmenistan Eye Increasing Annual Trade to 20 Million Tons
Bazvand made the remarks at the 18th meeting of the Joint Commission for Economic Cooperation
“Achieving this goal would drive economic growth for both nations,” he said.
Bazvand noted that discussions in the two-day meeting would address specialized solutions and necessary tools for facilitating trade.
He described the meeting positively, and said the topics raised are expected to be included in the final document of the session.
Stressing the close cooperation between Iran and Turkmenistan, Bazvand said that these meetings can help promote relations between the two countries.
He said that transportation and transit are always a priority for cooperation between Iran and Turkmenistan, adding that the existing transit capacities should be utilized to facilitate trade cooperation in the region.
Iran has signed several gas swap agreements with Turkmenistan in recent years to supply the equivalent of natural gas it imports from the country to Azerbaijan and Iraq.
The swap deals boost Iran’s ability to increase its supply of natural gas to its national grid customers in the northeast of the country, where key population and industry centers are located.
Iran also imports nearly 2 billion kilowatt hours of electricity from Turkmenistan every year to respond to rising demand for power in its northeast.
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