Iran and Turkey are going to turn to the national currencies in mutual transactions

Almaty. January 27. Silkroadnews - Iran and Turkey in the near future plan to move in mutual settlements to the national currencies of the two countries, reports the Iranian News Agency (IrTAG).
"Currently, relevant departments of the two countries continue to actively work on the preparation and finalization of the final text of the bilateral intergovernmental agreement which provides the transition to the use of the Iranian rial and Turkish lira in mutual settlements between the two countries", - said in a statement.
It is expected that this document will contribute to the implementation of preferential trade deals between Iran and Turkey, which came into force on 1 January 2015. In particular, it provides for the supply of 125 names of Iranian goods and 140 of the Turkish market of the two countries on the basis of preferential tariffs.
Turkey is one of the biggest trade partners of Iran. By the end of 2012 the volume of trade between the countries amounted to nearly $22 billion in 2013 - $13.5 billion. During the recent Summit Tehran and Ankara have set a goal to bring the total amount of bilateral trade to $30 billion a year. According to economic analysts, the agreement on the use of national currencies will greatly simplify the achievement of this goal.
Meanwhile, at the end of last week, the Central Bank of Iran announced its decision to abandon the US dollar in the calculations with its foreign economic partners. The authorities of the Islamic Republic announced their intention to use for the other currencies, including the Russian ruble, the yuan, the euro, the Turkish lira and the South Korean Vaughn.