TEHRAN (Tehran Times) – Iran organized an exclusive economic and trade fair in Turkmenistan’s capital Ashgabat on Monday, which was attended by 67 Iranian companies, IRNA news agency reported.

Iran was Turkmenistan’s top trading partner in 2010, accounting for 21.7% of its total trade value, Turkmenistan State Statistical Committee reported on November 13, 2011. The trade between Iran and Turkmenistan is expected to reach US $5 billion by the end of the current Iranian calendar year (March 19, 2012), an official with the Trade Promotion Organization of Iran said.

Abdolhamid Asadian said: “Tehran and Ashgabat have great potential to boost their bilateral trade value up to $10 billion.”

The two countries’ annual trade value currently stands at $4.2 billion.

The head of the Turkmen Chamber of Commerce and Industry Palvan Taganov has said that 146 Iranian companies are currently carrying out several industrial and construction projects in Turkmenistan.