• 18 April 2019 - 15:13
  • News Code: 99083
پرچم ایران و ترکیه

Turkish Foreign Minister said Turkey is looking into establishing new trade mechanisms with Iran, like the INSTEX system set up by European countries to avoid U.S. sanctions.

According to Reuters, Mevlut Cavusoglu reiterated Turkey’s opposition to the sanctions and said Ankara and neighboring Iran needed to keep working to raise their bilateral trade to a target of $30 billion, around triple current levels.

“Along with the existing mechanisms, we evaluated how we can establish new mechanisms, like INSTEX...how we can remove the obstacles before us and before trade,” Cavusoglu told a news conference after talks with his Iranian counterpart Javad Zarif.

“What is important here is the solidarity and determination between us,” he added.

France, Germany and Britain have opened a new channel for non-dollar trade with Iran to avert sanctions, dubbed The Instrument In Support Of Trade Exchanges (INSTEX).

Presidential spokesman Ibrahim Kalin told reporters in Washington on Tuesday that Turkey expected the United States to extend Ankara’s waiver.

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