Iran, Turkey ink comprehensive cooperation document

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Iran’s ICC, Turkey’s MUSIAD have signed a very comprehensive Memorandum of Understanding (MoU) to develop bilateral cooperation.

The commercial protocol was sealed on the sidelines of an exhibition in Istanbul between Turkey’s Independent Industrialists and Businessmen Association (Turkish: MUSIAD) and Iran’s Chamber of Cooperatives (ICC).

Head of Iran’s ICC Bahman Abdollahi and MUSIAD Chairman Nail Olpak wrote their names on the agreement.

Speaking during the ceremony, Olpak said Ankara intended to implement all trade and economic agreement so far signed with Tehran.

MUSIAD enjoys a 20% share in gross domestic product (GDP) of Turkey and has more than 100 thousand production and commerce units as its members.

Iran and Turkey have boosted efforts to reach a total trade turnover of 30 billion dollars.

Earlier in April, the two sides inked eight MoUs to reinvigorate bilateral cooperation in various areas.

The cooperation documents were endorsed in a ceremony in Ankara on April 16 at the presence Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyip Erdoğan.

The agreements covered a wide range of fields including higher education, social security, plant maintenance services and standardization.

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