ANKARA, Jan. 2 (Mehr News Agency) - The volume of trade between Iran and Turkey hit $9.708 billion for the first 11 months of 2008, showing a 30.6 percent rise over the figure for the same period in 2007.
The neighboring countries hope to increase annual trade to $20 billion by 2011, IRNA reported.
The rise would have been greater, but the global decrease in the price of oil caused a downturn in the value of Iran-Turkey bilateral transactions in the last quarter.
Iran-Turkey trade exceeded $832.88 million for an 18.5 percent rise in October 2008 compared to the figure for October 2007, but dipped to $523 million in November 2008, a 63.64 percent decline.
Bilateral trade also dropped in December 2008, although the final figures have not been tabulated yet.
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