The 14th Iran-Turkmenistan Joint Economic Committee Meeting opened in Tehran on Saturday.
Iranian Transport and Urban Development Minister Abbas Akhoundi and Turkmen Foreign Affairs Minister Rashid Meredov will co-chair the three-day event.
The two sides are planned to sign a memorandum of understanding at the end of the 3rd day of the meeting.
Turkmenistan was the 7th leading importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, 2015, according to the Iran Customs Administration.
Iran exported $973.65 million of non-oil goods to Turkmenistan and imported $113.72 million of non-oil goods from the country.
In March, the two countries signed 17 cooperation documents in economic, cultural, political, legal, scientific, and technological fields. The two sides are determined to boost their bilateral trade to $60 billion by the next 10 years.
In a meeting between Iranian President Hassan Rouhani and Turkmen Vice-President Khajeh Mohammadov, which was held in Tehran on May 11, Rouhani announced Iran’s readiness to speed up the implementation of road building, technical and engineering, as well as energy projects.
In Feb. 2014, Iranian Industry, Mining, and Trade Minister Mohammad-Reza Ne’matzadeh said Iran and Turkmenistan have the capacity to double their trade exchanges.
He added that the two countries can raise the current $5-billion trade transaction to $10 billion.