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Turkmenistan, Iran ratify memo

Turkmenistan, Iran ratify memo

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Date: 13 January 2016 20:07

Ashgabat, Turkmenistan, Jan. 13

By Huseyn Hasanov– Trend:

The Turkmen parliament has ratified a memorandum of understanding on merchant shipping cooperation in the Caspian Sea. The memorandum was ratified between the governments of Turkmenistan and Iran, the Turkmen government said Jan. 13.

The document was signed during Turkmen President Gurbanguly Berdimuhamedov’s official visit to Iran on November 22-23, 2015.

As of the first nine months of 2015, the trade turnover volume between Turkmenistan and Iran exceeded $2.62 billion, which is 2.2 percent more than in the same period of 2014.

An agreement was reached to increase the bilateral trade turnover volume up to $60 billion for the next ten years during Iranian president’s visit to Turkmenistan in March 2015.

The two countries implemented the North-South railway project on the basis of a tripartite agreement with participation of Kazakhstan signed in 2007.

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