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Iran, Turkmenistan to Sign Barter Trade Agreement

Wednesday 13 March 2013

TEHRAN (PressTV) – Iranian ambassador to Turkmenistan says Tehran and Ashgabat will sign a barter trade agreement during Iranian President Mahmoud Ahmadinejad’s forthcoming visit to that country.

Mohammad Reza Hashemi Golpayegani said on Wednesday that the agreement will allow Iran to export various products to its north-eastern neighbour in return for importing gas from Turkmenistan.

Iran and Turkmenistan established official diplomatic relations when the latter country gained independence after the collapse of former Soviet Union. Since then, the two countries have enjoyed good relations and cooperated in the economic, infrastructure and energy sectors.

Iran ranks the second in the world in terms of natural gas reserves after Russia with available gas reserves estimated at over 33 tln m³. However, Tehran buys natural gas from Turkmenistan to meet industrial and household demand for gas in northern regions which are distant from the country’s own fields clustered in the southernmost part of the country.

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