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A joint trade meeting between Iran and Turkey has been held. Participating Turkish minister of state for trade affairs, Korshad Tuzman, referred to the slow growth of Tehran-Ankara trade ties and said that making changes in the custom regulations is required for boosting the economic relations and facilitating trade between the two countries.

He expressed hope that Iran-Turkey volume of trade exchanges will hit US$4bn in 2005, stating that if current trade obstacles are removed, the exchanges will reach US$10bn.

Despite regulations required for investment, Alinaqi Khamushi, chairman of Iran’s Chamber of Commerce said that Iranian and Turkish companies face governmental bureaucracy when making decisions.

“The tariff and non-tariff barriers in the trade between the two countries are not compatible with their macroeconomic policies,” Khamushi said.