Union of Chambers and Commodity Exchanges of Turkey

Speaking at the business forum held by the Konya Chamber of Industry, Konya Chamber of Commerce and the Konya Commodity Exchange at the Dedeman, Selçuk Öztürk, emphasizing cooperation between the countries, stated that it is quite conceivable to reach the 30 billion USD bilateral trade volume with the signing of this memorandum of understanding.

Reporting that Konya exports goods to 178 countries, Öztürk stated that they’ve requested direct flights between Konya and Iran.

Development Minister Cevdet Yılmaz stated that the meeting has been very productive.

Yılmaz stated that progress has been made especially in the banking sector; that the memorandum signed today would make it official.

Stating that Iran and Turkey are two very important countries with their own traditions and histories, Yılmaz underlined the importance of the bilateral relations of the two countries.

Minister Yılmaz emphasized the need to increase bilateral investments and went on, “In 2016, we will hold forums to assess the investment opportunities in both countries. Business councils will also take part in this.

We will bring our entrepreneurs together and assess investment opportunities. We also have a goal of creating a consultative mechanism between the two countries.

The MoE for the creation of a consultative mechanism between TOBB and the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) will be signed today. Banking is an important sector. It was one of the most problematic especially during the embargo period. We’ve held a special meeting on this subject and it has been very fruitful. We’ve reached an understanding in developing our relations in this matter.

We will be signing the MoE for cooperation in the banking sector today. Another important issue is trading our national currencies. With the President of the Republic of Turkey and the Prime Minister, the political will behind issue is at the highest level. I am very happy to report that 3% of our bilateral trade with Iran last year was conducted with national currency. This is very significant progress. We will expend effort to increase this progress in the future.”

Yılmaz reported that they wish to develop relations between Exchange Istanbul and the Tehran Exchange and that they want companies to easily conduct business in these exchanges.

During the meeting the memorandum of understanding with the goal of aiming to bring resolution to eliminate disagreements between the Turkish and Iranian business communities via methods of international problem resolution such as arbitration and mediation was signed between the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA).

Signing the memorandum were TOBB Board Member Memiş Kütükcü and Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Board member Hosei Pırmoazen.

- Memorandum is composed of 10 articles

According to the memorandum, resolution for disagreements between Turkish and Iranian businesses or institutions which may result in international issues will be urged to be arbitration, mediation or similar conflict resolution methods. Parties will exchange information and materials. Parties, upon request, will suggest arbiters or mediators suitable to take roles as necessary.

According to the memorandum of understanding which is composed of 10 articles, parties – in accordance with their internal legislations – will permit each other to use their facilities.

Attending the meeting were Development MinisterCevdet Yılmaz, Iran Telecommunications and Informatics Technologies Minister Mahmoud Vaezi, ICCIMA Board Member and the Chairman of the Iranian business delegation Hosein Pirmoazen, Turkey – Iran Business Council Chair Bilgin Aygül, Iran – Turkey Business Council Reza Kami and the chairpersons of the Chambers of the Zanjan and Urmia provinces of Iran.