To reach a trade volume of $30 million by the end of 2017, Iran and Turkey started a joint committee on banking relations.
The first meeting of Iran-Turkey joint committee on banking relations was held on Wednesday in Tehran, announced the Central Bank of the Islamic Republic of Iran in a communiqué on Thursday.
Hassan Yaghoubi, Director of International Relations Department at the Iranian Central Bank's International Affairs Office headed the Iranian side of the meeting and Mehmet Taşkin, the Deputy Executive Director at Central Bank of Turkey was the top figure of the Turks in the meeting.
During the meeting, the two delegations discussed the ways to remove obstacles ahead of the banking relations of the two countries, the use of local currency for trade, connection of the switch cards of the two countries, and continuation of the bilateral talks in the next three months.
The agreements reached in talks between the two sides was signed by the two sides in the form of a banking Memorandum of Understanding.
The signed MoU is in line with the terms of cooperation agreed by the presidents of the wo countries who have set the goal to reach a trade volume of more than $30 million by the end of 2017.
The next meeting of the committee is set to be held in Turkey in late February.
