Turkey, Iran agree on joint free industrial zone

Turkish Industry & Trade Minister Nihat Ergun and Iranian Minister of Industries & Mining Ali Akbar Mehrabian put their signatures under the memorandum of understanding that aimed to boost industrial and commercial relations between the two countries.

The two ministers met after the First D8 (developing eight Muslim countries) Ministerial Meeting on Industry held in Tehran, Iran.

The D8 members include Iran, Bangladesh, Egypt, Indonesia, Malaysia, Nigeria, Pakistan and Turkey. The objectives of D8 are to improve developing countries; positions in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and provide better standards of living.

"With this memorandum, we will have a better and more cooperation between small and medium scale enterprises and standards agencies; and we will also cooperate in transfer of technology," Ergun said during the signature ceremony.

Ergun said Turkey and Iran also agreed to establish a joint free industrial zone at the border.

Turkish and Iranian governments were determined to strengthen and diversify their relations, Ergun said.

Ergun also said, "countries, particularly neighboring countries, need a closer cooperation for regional peace, development and justice."

Also speaking during the ceremony, Mehrabian said he believed that Turkish and Iranian businessmen would invest in the region, and the competitive power of Turkey and Iran would increase thanks to their potential.

The trade volume between Turkey and Iran was over 10 billion USD in 2009.

Ergun held bilateral talks with representatives of D-8 member states on the sidelines of the meeting.

Turkey's Industry Minister Ergun was received by Iranian President Mahmud Ahmadi-Nejad and Supreme Leader Ali Hoseini-Khamenei.

Ergun, who has completed his talks in the capital, Tehran, will proceed to Isfahan on Wednesday and return to Turkey on Thursday.

Participants of the D-8 Industry Ministers' Meeting released a Tehran Declaration at the end of their meeting.

The declaration expresses the determination of the member countries to achieve common goals, and to take necessary steps to increase industrial and market opportunities and financial resources and boost technological cooperation.

The second D-8 Ministerial Meeting on Industry will take place in Turkey in 2011.


/World Bulletin/