Azerbaijan, Baku, May 23/ Trend F.Milad/
Iran and Turkey have agreed to form a joint industrial estate in a border area in a bid to expand economic ties, the IRNA News Agency reported on Wednesday.
In a meeting between Iranian Industry, Mine and Trade Minister Mehdi Ghazanfari and Turkish Development Minister Cevdet Yilmaz in Tehran, the two sides agreed to finalize a previously signed MOU to establish the joint industrial estate.
Supporting private sectors of the two neighboring countries and participating in international exhibitions of the two sides were also highlighted in the meeting.
Iranian First VP Mohammad Reza Rahimi in a meeting with Turkish Prime Minister Recep Tayyip Erdogan in March said that the two countries had agreed to increase the volume of bilateral trade to 30 billion dollars within the next three years.
The value of trade between Iran and Turkey surpassed $16 billion in 2011.
"Today we became determined to boost this rise to 100 percent and achieve the $30 billion target as soon as possible," Rahimi stated.