Iran ready to sign $1bn worth of contracts with Turkmenistan

Iran's deputy oil minister for international affairs and trade says the Islamic Republic is ready to sign about USD 1 billion worth of contracts with Turkmenistan for the export of technical and engineering goods and services to the Central Asian country.

Amir Hossein Zamaninia made the remarks on the sidelines of a meeting between Iranian Oil Minister Bijan Zanganeh and Turkmenistan’s Foreign Minister Rashid Muradov in Tehran on Sunday, Oil Ministry's official SHANA news agency reported.

“Turkmenistan has been always a good trade partner for Iran and we hope it would remain the same in the future,” he added.

Zamaninia noted that during the meeting between the Iranian oil minister and the Turkmen foreign minister, the two sides emphasized the need to further develop bilateral trade relations.

The official further stated that Iranian companies can play an important role in Turkmenistan’s market by offering high-quality products, which could compete with those offered by countries like Turkey and Russia, which are currently swaying great influence in that market.

“At present, Iran's petrochemical products are of higher quality compared to those produced by rival countries. Therefore, Iranian companies must do their best in this regard,” Zamaninia added.

Earlier on Sunday, Muradov met and conferred with Iran's Oil Minister Bijan Zanganeh at the building of Iran's Oil Ministry in Tehran.

During their negotiations, the two sides discussed further expansion of trade exchanges between Tehran and Ashgabat.

Upon his arrival in Tehran, Muradov met with his Iranian counterpart, Mohammad Javad Zarif, at Mehrabad Airport before Zarif left Tehran on a tour of regional countries.

During the meeting, the Turkmen minister said in his two-day stay in Iran, he will discuss a wide range of issues with high-ranking Iranian officials.

“Iran and Turkmenistan are neighborly and brotherly countries and our relations have deep roots in history,” he added.

Muradov’s visit to Tehran follows a trip by Iranian President Hassan Rouhani to Turkmenistan in early March.

During Rouhani's two-day visit, the two countries signed 17 cooperation agreements in political, economic and cultural areas as well as cooperation in environmental issues and fighting terrorism.