BREAKING NEWS

Turkey seeks closer trade ties with Iran

By ASSOCIATED PRESS

SEPTEMBER 16, 2010 22:20

ANKARA, Turkey — Turkey's prime minister on Thursday said his country was seeking closer commercial ties with Iran and aims to triple trade volumes in the next five years while still respecting the limits set by UN sanctions.

Turkey plans to buy more natural gas from Iran to supply industry and homes and also hopes to export Iranian gas onto Europe. It will try to eliminate some quotes and tariffs and increase business with Iranian banks.

"I can't see any reason why we can't establish an unimpeded trade mechanism with Iran similar to the one with Europe," said Prime Minister Recep Tayyip Erdogan in an address at a Turkish-Iranian business forum in Istanbul.

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