Turkey, Iran look to cooperate over regional issues

Turkish Prime Minister Ahmet Davutoglu is scheduled to pay a two-day visit to neighboring Iran this week, his office said, according to Hurriyet Daily News.

Iran, along with Russian Federation, has stood by Syrian President Bashar al-Assad in the five-year war, providing him with military and financial support, while Turkey is his most outspoken critic and has backed opposition forces.

The Turkish prime minister heading a high-ranking delegation arrived in Tehran on 4 March to mark the first official visit by a Turkish premier in the wake of the Joint Comprehensive Plan of Action (JCPOA).

As Iran exports mainly raw materials to Turkey, including crude oil and gas, sharp fall in oil prices in global markets has led to decrease in trade value. However, separate USA sanctions on Iran remain in place, making doing business in the Islamic Republic very complicated for American companies.

Jahangiri said he had held two meetings with Davutoglu, where they "had fru itful discussions on bilateral ties and regional issues".

"We were on Iran's side at the time this country was going through hard times due to its nuclear program".

The removal of e sanctions means the two neighbors can easily exceed their previous trade target of 30 billion annually Davutoglu said.

He made the comments while standing next to Iran's Vice President Eshagh Jahangiri.

"Iran's economic growth slowed down in 2015 but domestic and worldwide predictions both indicate that growth in 2016 would be beyond 5 percent", central bank chief Valiollah Seif said.

The two countries have targeted to increase their trade volume to $30 billion, something that has not been realized so far.

The nuclear deal between Iran and world powers allowed for airplane manufacturers to sell aircraft to Iran's ailing airlines, which have relied on an aging fleet for years.

The lifting of worldwide sanctions on Iran and political gains for President Hassan Rouh ani in recent elections have put Tehran on track for economic growth.

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Source: Turkey, Iran look to cooperate over regional issues