Iran, Turkmenistan Ink 2 Cooperation Documents to Bolster Bilateral Ties

Date: 19 November 2023 - 21:47

News ID: ۱۲۱۶۵۰

TEHRAN – Iran’s Minister of Roads and Urban Development Mehrdad Bazrpash and Deputy Chairman of the Cabinet of Ministers and Minister of Foreign Affairs of Turkmenistan Rasit Meredow on Sunday signed two cooperation documents, worth about $1 billion, at the closing ceremony of the 17th Iran-Turkmenistan Joint Economic Cooperation Commission held in Ashgabat.

They feature the construction of a 242-km road in Turkmenistan and also construction operation of an electricity transmission line and export of parts and equipment of the power industry.

The two cooperation documents were signed by Iran’s Deputy Roads Minister and Construction and Development of Transportation Infrastructures Company (CDTIC) CEO Kheirollah Khademi and CEO of Iran Power Management, Distribution and Transmission Company (TAVANIR) Arash Kordi and their Turkmen counterparts.

In addition, the two sides emphasized launching direct flights between Mashhad and Ashgabat.

Iran’s roads minister pointed to the settlement of Iran’s gas debt to Turkmenistan and added that the remaining debt will be settled through bartering with the construction of Kum Dagh-Incheh Boroun Road.

Iran and Turkmenistan also signed memoranda of understanding in the fields of veterinary medicine, agriculture, electricity, power transmission lines and export of electricity equipment and construction materials from Iran to Turkmenistan.

At the proposal of the Iranian side, the 18th edition of the Iran-Turkmenistan Joint Economic Cooperation Commission will be held in Tehran in September 2024.

Tehran to Dispatch Commercial Envoy to Ashgabat

Mehdi Zeyghami, the head of the Trade Promotion Organization of Iran (TPOI) said that his organization will send a commercial envoy to Turkmenistan to bolster bilateral ties in the fields of trade and economy.

The official said that a comprehensive cooperation document will be formulated between the two countries in various fields.

Zeyghami put the volume of trade exchanges between Iran and Turkmenistan in 2022 at $500 million, stating that the two countries enjoy the potential to enhance the  volume of trade exchanges.

The TPOI chief further pointed out that Turkmenistan is interested in participating in Iran’s specialized exhibitions and added that the two countries have established fair interactions in the field of construction materials and technical engineering services.