TEHRAN - The value of Iran’s exports to neighboring Turkey increased by 56 percent to reach $2.145 billion in the first seven months of 2022, according to the figures recently released by the Turkish Statistical Institute.

As IRNA reported, Iran’s export to Turkey was $1.37 billion in the first seven months of the past year.

The trade between Iran and Turkey increased by 33 percent to $3.847 billion, up from $2.877 billion during the same period a year earlier.

Based on the mentioned data, Iran’s imports from the country also marked a 13-percent rise to hit $1.702 billion during the January-July period, from $1.507 billion the same time span in 2021.

Increasing non-oil exports to the neighboring countries is one of the major plans that the Iranian government has been pursuing in recent years.

During a webinar, held in March, on trade relations between Iran and Turkey, which was held through cooperation between Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) and Istanbul Chamber of Commerce (ICOC), and attended by officials from both chambers and a group of entrepreneurs, ways to develop economic relations between the two countries and some problems in this due were examined.

In this virtual conference, which was attended by more than 250 entrepreneurs from Iran and Turkey, the opportunities for cooperation between the two countries were examined and the two sides emphasized the development of cooperation.

Addressing the conference, Nihat Alayoglu, the secretary-general of Istanbul Chamber of Commerce, referring to the political, economic and cultural similarities between Iran and Turkey, said: "The two countries have long-standing relations dating back more than 400 years, and more than 500 kilometers of common border, as well as several trade agreements with each other, in particular, the preferential trade agreement, which was concluded in 2015, is very important for both countries.”

He added that the value of trade between Iran and Turkey has increased from $1.2 billion in 2001 to about $5.6 billion in 2021. Of this amount, $2.7 billion is allocated to Turkish exports to Iran and $2.8 billion is related to Iran's exports to Turkey. Machinery and equipment are among the top exports of Turkey to Iran, and mainly materials such as copper and plastic are imported from Iran.

Noting that Turkey accounts for seven percent of Iran's $39-billion imports, he added: "Our goal is to increase Turkish exports to Iran to $10 billion, and it is obvious that the two countries' chambers of commerce have a role to play in increasing trade cooperation."

Bahman Eshqi, the secretary-general of Tehran Chamber of Commerce, for his part put emphasis on the significance of expanding economic ties between Iran and Turkey, and said, “Turkey is one of the gateways of Iran's economy to Europe, and Iran is one of the gateways connecting Turkey to the Silk Road and the lands of the Commonwealth of Independent States (CIS) members. Iran can also be the main gateway for Turkey to join India and the subcontinent.”

Emphasizing that economic cooperation between the two countries is a necessity, Eshqi continued: "Compromise between the two nations has been strong for the last three centuries, and although at times there have been competitions between the two countries, Iran-Turkey cooperation is still developing."

TEHRAN - The value of Iran’s exports to neighboring Turkey increased by 56 percent to reach $2.145 billion in the first seven months of 2022, according to the figures recently released by the Turkish Statistical Institute.

As IRNA reported, Iran’s export to Turkey was $1.37 billion in the first seven months of the past year.

The trade between Iran and Turkey increased by 33 percent to $3.847 billion, up from $2.877 billion during the same period a year earlier.

Based on the mentioned data, Iran’s imports from the country also marked a 13-percent rise to hit $1.702 billion during the January-July period, from $1.507 billion the same time span in 2021.

Increasing non-oil exports to the neighboring countries is one of the major plans that the Iranian government has been pursuing in recent years.

During a webinar, held in March, on trade relations between Iran and Turkey, which was held through cooperation between Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) and Istanbul Chamber of Commerce (ICOC), and attended by officials from both chambers and a group of entrepreneurs, ways to develop economic relations between the two countries and some problems in this due were examined.

In this virtual conference, which was attended by more than 250 entrepreneurs from Iran and Turkey, the opportunities for cooperation between the two countries were examined and the two sides emphasized the development of cooperation.

Addressing the conference, Nihat Alayoglu, the secretary-general of Istanbul Chamber of Commerce, referring to the political, economic and cultural similarities between Iran and Turkey, said: "The two countries have long-standing relations dating back more than 400 years, and more than 500 kilometers of common border, as well as several trade agreements with each other, in particular, the preferential trade agreement, which was concluded in 2015, is very important for both countries.”

He added that the value of trade between Iran and Turkey has increased from $1.2 billion in 2001 to about $5.6 billion in 2021. Of this amount, $2.7 billion is allocated to Turkish exports to Iran and $2.8 billion is related to Iran's exports to Turkey. Machinery and equipment are among the top exports of Turkey to Iran, and mainly materials such as copper and plastic are imported from Iran.

Noting that Turkey accounts for seven percent of Iran's $39-billion imports, he added: "Our goal is to increase Turkish exports to Iran to $10 billion, and it is obvious that the two countries' chambers of commerce have a role to play in increasing trade cooperation."

Bahman Eshqi, the secretary-general of Tehran Chamber of Commerce, for his part put emphasis on the significance of expanding economic ties between Iran and Turkey, and said, “Turkey is one of the gateways of Iran's economy to Europe, and Iran is one of the gateways connecting Turkey to the Silk Road and the lands of the Commonwealth of Independent States (CIS) members. Iran can also be the main gateway for Turkey to join India and the subcontinent.”

Emphasizing that economic cooperation between the two countries is a necessity, Eshqi continued: "Compromise between the two nations has been strong for the last three centuries, and although at times there have been competitions between the two countries, Iran-Turkey cooperation is still developing."

TEHRAN - The 14th International Forum on Islamic Capital Market (ICM) is going to be held in Tehran during November 6-7, Vice Chairman of Iran Securities and Exchange Organization (SEO) Bahador Bijani said.

The event is organized by SEO with the aim of promoting Islamic financial instruments, Bijani said.

The main topics that are going to be covered in the event include the perspective of the Islamic capital market in the digital era, fintech in the Islamic capital market, digitalization of the Islamic capital market, and alternative investments in the Islamic capital market, according to the official.

Bijani noted that each of the mentioned topics will be examined in detail in separate sections.

For example, in the fintech section, topics such as fintech opportunities and challenges in the Islamic capital market, Islamic fintech and regulatory framework, and artificial intelligence and Islamic fintech will be discussed, he explained.

Digitalization of the Islamic capital market will also be explored in the form of topics such as the use of blockchain and smart contracts in the Islamic capital market, digital currency, investment and the future of the Islamic capital market, tokenization of assets (financial and real) through the Islamic capital market and Mataverse and Islamic capital market.

As for the alternative investments in the Islamic capital market, the official said: “in this section, socially responsible investment (SRI), environmental, social and governance (ESG) approaches, corporate governance principles in the Islamic capital market, and new models of financing by investment funds as well as Exchangeable Trade Funds (ETF) are among the topics that will be discussed.”

Due to the coronavirus pandemic, SEO held the previous two editions of the ICM virtually, but since the severity of the disease has decreased recently, this year the forum is planned to be held physically.

Kish Air, an Iranian semi-state airline, on Friday commenced its flights to Afghanistan, with the first flight landing in southern Kandahar province, Afghanistan’s Pajhwok news reported.

In this regard a ceremony was held at Ahmad Shah Baba Airport in Kandahar city, in which Deputy Director of Afghanistan Aviation Authority, the Director of Foreign Affairs in Kandahar, the Iranian Consul General and a number of other officials were present.

Ali Reza Hajizadeh, Iranian Consul General in Kandahar, said the Kish Air would have flights from Iran to Kabul and Kandahar twice a week to provide people with more travel facilities.

He said that Iran expects other airlines to start their flights to Afghanistan in order to further expand economic relations between the two nations.

TEHRAN - The 14th International Forum on Islamic Capital Market (ICM) is going to be held in Tehran during November 6-7, Vice Chairman of Iran Securities and Exchange Organization (SEO) Bahador Bijani said.

The event is organized by SEO with the aim of promoting Islamic financial instruments, Bijani said.

The main topics that are going to be covered in the event include the perspective of the Islamic capital market in the digital era, fintech in the Islamic capital market, digitalization of the Islamic capital market, and alternative investments in the Islamic capital market, according to the official.

Bijani noted that each of the mentioned topics will be examined in detail in separate sections.

For example, in the fintech section, topics such as fintech opportunities and challenges in the Islamic capital market, Islamic fintech and regulatory framework, and artificial intelligence and Islamic fintech will be discussed, he explained.

Digitalization of the Islamic capital market will also be explored in the form of topics such as the use of blockchain and smart contracts in the Islamic capital market, digital currency, investment and the future of the Islamic capital market, tokenization of assets (financial and real) through the Islamic capital market and Mataverse and Islamic capital market.

As for the alternative investments in the Islamic capital market, the official said: “in this section, socially responsible investment (SRI), environmental, social and governance (ESG) approaches, corporate governance principles in the Islamic capital market, and new models of financing by investment funds as well as Exchangeable Trade Funds (ETF) are among the topics that will be discussed.”

Due to the coronavirus pandemic, SEO held the previous two editions of the ICM virtually, but since the severity of the disease has decreased recently, this year the forum is planned to be held physically.

TEHRAN - During a meeting of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA)’s Transport and Logistics Committee on Saturday, the members of the committee stressed the need for establishing a regulatory body in the country’s railway industry, the ICCIMA portal reported.

The attendees of the mentioned meeting emphasized that necessary provisions should be made in the Seventh Five-year National Development Plan for the operation of a regulatory body in the railway industry and the private sector should also be able to have a stronger role in the industry.

Speaking at the meeting, Ali Hosseini, the head of the ICCIMA Transport and Logistics Committee enumerated some of the challenges and problems of the country’s transportation industry and said: “The transportation industry is one of the industries that operate in direct connection with all economic sectors and the conditions governing it have significant effects on the market. Therefore, paying attention to the needs of this industry should be the priority in defining the country's economic and legislative programs.”

He further pointed to some of the issues of the railway industry, saying: “There is not enough productivity in this industry. We have problems in railway management and our approach in this field is uneconomical. Due to the low speed of rail transportation and the lack of efficiency, a regulatory body should be established. If we want to reach the transit goals of 30 to 50 million tons per year, the rail industry must be developed.”

TEHRAN – The Islamic Republic of Iran Customs Administration (IRICA) signed a trilateral memorandum of understanding (MOU) with the customs of Russia and Azerbaijan on Monday to facilitate the transit of goods between the parties, IRNA reported.

According to IRICA Head Alireza Moghadasi, based on the said MOU Iran's access to Russia will be facilitated through Azerbaijan’s land borders.

“Iranian trucks won’t need to wait in long lines to reach Russia and goods will reach their destination more quickly,” Moghadasi said.

The official noted that the activity of all commercial corridors passing through Iran has increased over the past year and commercial exchanges and transit of goods have risen significantly.

“Iran’s customs diplomacy has been developed considering the country’s membership in the World Customs Organization as well as other conventions, especially with neighboring countries, and this has been the government's priority regarding foreign trade,” the IRICA head said in an interview with national TV.

Emphasizing that good measures have been taken to facilitate trade in different corridors, Moghadasi said: “The Islamabad-Tehran-Bazargan route for sending goods to Europe, as well as the Emirates-Iran-Turkey, the South-North and East-West corridors and Russia-Kazakhstan-Turkmenistan-Iran-India are the routes whose activity has been expanded to increase trade and transit.”

According to the official, since the current government took office in August 2021, the transport policy of Iran has actively focused on close cooperation with the neighboring countries to enhance regional connectivity.

Moghadasi noted that for the first time Iran has been granted permission to launch an Asia-Pacific Regional Training Center for transport and transit courses, saying: “We can invite different countries for training, and there are many supporting institutions in this regard.”

Regarding the control of smuggling from the country's borders, the official said: “vulnerable border points and methods of smuggling have been identified so that they can be eliminated with timely planning and taking effective measures.”

The policy of paying attention to neighbors and developing political and economic relations with neighboring countries in the current government, increasing attention to road and rail routes in the world, and the efforts and cooperation of transportation and trade-related organizations in establishing or activating corridors through the country have led to significant growth in transit of goods through Iran.

TEHRAN – The Islamic Republic of Iran Customs Administration (IRICA) signed a trilateral memorandum of understanding (MOU) with the customs of Russia and Azerbaijan on Monday to facilitate the transit of goods between the parties, IRNA reported.

According to IRICA Head Alireza Moghadasi, based on the said MOU Iran's access to Russia will be facilitated through Azerbaijan’s land borders.

“Iranian trucks won’t need to wait in long lines to reach Russia and goods will reach their destination more quickly,” Moghadasi said.

The official noted that the activity of all commercial corridors passing through Iran has increased over the past year and commercial exchanges and transit of goods have risen significantly.

“Iran’s customs diplomacy has been developed considering the country’s membership in the World Customs Organization as well as other conventions, especially with neighboring countries, and this has been the government's priority regarding foreign trade,” the IRICA head said in an interview with national TV.

Emphasizing that good measures have been taken to facilitate trade in different corridors, Moghadasi said: “The Islamabad-Tehran-Bazargan route for sending goods to Europe, as well as the Emirates-Iran-Turkey, the South-North and East-West corridors and Russia-Kazakhstan-Turkmenistan-Iran-India are the routes whose activity has been expanded to increase trade and transit.”

According to the official, since the current government took office in August 2021, the transport policy of Iran has actively focused on close cooperation with the neighboring countries to enhance regional connectivity.

Moghadasi noted that for the first time Iran has been granted permission to launch an Asia-Pacific Regional Training Center for transport and transit courses, saying: “We can invite different countries for training, and there are many supporting institutions in this regard.”

Regarding the control of smuggling from the country's borders, the official said: “vulnerable border points and methods of smuggling have been identified so that they can be eliminated with timely planning and taking effective measures.”

The policy of paying attention to neighbors and developing political and economic relations with neighboring countries in the current government, increasing attention to road and rail routes in the world, and the efforts and cooperation of transportation and trade-related organizations in establishing or activating corridors through the country have led to significant growth in transit of goods through Iran.

TEHRAN – The Islamic Republic of Iran Customs Administration (IRICA) signed a trilateral memorandum of understanding (MOU) with the customs of Russia and Azerbaijan on Monday to facilitate the transit of goods between the parties, IRNA reported.

According to IRICA Head Alireza Moghadasi, based on the said MOU Iran's access to Russia will be facilitated through Azerbaijan’s land borders.

“Iranian trucks won’t need to wait in long lines to reach Russia and goods will reach their destination more quickly,” Moghadasi said.

The official noted that the activity of all commercial corridors passing through Iran has increased over the past year and commercial exchanges and transit of goods have risen significantly.

“Iran’s customs diplomacy has been developed considering the country’s membership in the World Customs Organization as well as other conventions, especially with neighboring countries, and this has been the government's priority regarding foreign trade,” the IRICA head said in an interview with national TV.

Emphasizing that good measures have been taken to facilitate trade in different corridors, Moghadasi said: “The Islamabad-Tehran-Bazargan route for sending goods to Europe, as well as the Emirates-Iran-Turkey, the South-North and East-West corridors and Russia-Kazakhstan-Turkmenistan-Iran-India are the routes whose activity has been expanded to increase trade and transit.”

According to the official, since the current government took office in August 2021, the transport policy of Iran has actively focused on close cooperation with the neighboring countries to enhance regional connectivity.

Moghadasi noted that for the first time Iran has been granted permission to launch an Asia-Pacific Regional Training Center for transport and transit courses, saying: “We can invite different countries for training, and there are many supporting institutions in this regard.”

Regarding the control of smuggling from the country's borders, the official said: “vulnerable border points and methods of smuggling have been identified so that they can be eliminated with timely planning and taking effective measures.”

The policy of paying attention to neighbors and developing political and economic relations with neighboring countries in the current government, increasing attention to road and rail routes in the world, and the efforts and cooperation of transportation and trade-related organizations in establishing or activating corridors through the country have led to significant growth in transit of goods through Iran.