Bloomberg News

Turkey Seeks to Seal Preferred-Trade Deal With Iran, Sabah Says

March 29, 2012

Turkey and Iran have been working on a preferential-trade agreement for a while and it’s time to seal the deal, Turkish Economy Minister Zafer Caglayan said, Sabah reported.

Trade between the two neighbors is growing and Turkish lira-Iranian rial transactions are rising due to international sanctions against Iran, Caglayan told reporters during a visit to Tehran with Prime Minister Recep Tayyip Erdogan, according to the Istanbul-based newspaper.

The minister said he will discuss the preferred-trade agreement with his counterpart and that both countries seek to increase bilateral trade, Sabah reported. Turkey’s energy purchases from its eastern neighbor continue and there are no problems with the state-run Turkiye Halk Bankasi AS (HALKB) facilitating payments, Caglayan told reporters, according to the newspaper.

To contact the reporter on this story: Emre Peker in Ankara at

To contact the editor responsible for this story: Andrew J. Barden at

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