Does the "Iran nuclear deal provide economic opportunities for Turkey"?

The British Financial Times newspaper wrote that although the announcement that a preliminary agreement had been reached with Iran was made in Geneva, its wave was felt in Ankara within a few hours.
The article, written by Piotr Zalewski and Daniel Dombey, stated that "Few countries will feel the impact of Iran's reintegration into the world economy more than Turkey, which has had a difficult relationship with Tehran in recent years."

In the article, Foreign Minister Ahmet Davutoğlu's visit to Tehran this week said, “Now is the time to cooperate. The dialogue between Iran and Turkey is the most important dialogue in the region.

The authors noted that the day after the Geneva agreement, Energy and Natural Resources Minister Taner Yildiz estimated that Turkey's oil imports from Iran would rise from 105 bpd to between 130 and 140 bpd if sanctions were lifted.

In the news, it was stated that the sanctions were not aimed at the energy groups that export oil from Iran, but at the banks that process the payments made for the oil sales. It is reminded that it has reduced its exports by 39 percent.

The article continues:

“As Iranian oil is purchased in Turkish lira, not dollars, the increase in oil exports from Tehran will also reduce the pressure on the Turkish currency. Iranian oil, which is cheaper than alternative sources, can also contribute to Turkey's large current account deficit, which is often described as Turkey's weakest economic point.

“Turkey's total exports in the first nine months of this year amounted to 3.4 billion dollars, whereas in the same period of 2012 it was 9 billion dollars, and Economy Minister Zafer Çağlayan blamed the US sanctions for this situation. However, many economists say that especially high exports in 2012 were due to gold sales from Turkey to Iran.”



Source : Metin Güneş / CNN TÜRK

📩 30/11/2013 16:05

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