BAKU, Azerbaijan, March 9. An economic consortium has been established with the support of the joint chambers of commerce of Iran and Turkmenistan to enhance the two countries' economic cooperation by increasing trade volume, Ramezan Bahrami, head of the Iran-Turkmenistan Joint Chamber of Commerce, told reporters, Trend reports.
In his statement, Bahrami noted that the creation of the economic consortium has been well-received by business leaders and presents a valuable opportunity to simplify trade, investment opportunities, and eliminate trade barriers between the two nations.
Behrami explained that the new consortium, formed with the involvement of the private sector and the cooperation of the joint chambers of commerce, aims to boost bilateral trade, reduce trading costs, and strengthen regional economic exchanges.
“Iranian companies' participation in this consortium will help sustain the continuous development of bilateral trade and simplify Iran’s access to Central Asian markets,” he added.
To note, Iranian non-oil exports to Turkmenistan hiked by 25 percent in value and 14.2 percent in weight during the 10 months of the current Iranian year (from March 20, 2024 through January 19, 2025) compared to the same period of last year (from March 21, 2023 through January 20, 2024).
The data obtained from the country's Customs Administration shows that Iran's non-oil exports to Turkmenistan amounted to 1.28 million tons worth $460 million during the last 10 months (1.11 million tons worth $368 million).
Iranian non-oil exports to Turkmenistan hiked by 25 percent in value and 14.2 percent in weight during the 10 months of the current Iranian year (from March 20, 2024 through January 19, 2025) compared to the same period of last year (from March 21, 2023 through January 20, 2024).
Iran imported 15,000 tons of items, valued at $17.3 million, from Turkmenistan, over the past 10 months compared to the same period of the last Iranian year (28,900 tons worth $34.3 million). Iran's product imports from Turkmenistan decreased by 49.5 percent in value and 48 percent in weight during 10 months of the current Iranian year (from March 20, 2024 through January 19, 2025) compared to the same period of last year (from March 21, 2023 through January 20, 2024).
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