Iran and Turkey finalized an energy roadmap aimed at boosting investment and cooperation between the two countries, the Iranian energy minister said here on Tuesday.
Speaking at a joint press conference with Turkish Energy Minister Taner Yildiz in Ankara, the Iranian minister hailed the efforts made by both countries' teams of experts to finalize the roadmap, Press TV reported.
The agreement will have a "promising prospect" for Iran-Turkey energy transactions, boosting the two countries' electricity transmission capacity from "the current 500 MW to 1000 MW," he said.
Based on the roadmap, joint investments will be made to build thermal and hydroelectric plants as well as wind farms, Namojou added.
The agreement is also intended to bring about further cooperation in terms of renewable energies, the Iranian minister said.
Iran, which holds one of the world's largest oil and natural gas reserves, is Turkey's second largest energy partner after Russia.
The Turkish energy minister, for his part, said that the new roadmap would help create fresh investments for the benefit of both countries.
Yildiz said the two countries agreed to establish technical committees which would pave the way for the investments in private sector, especially on renewable energy.
"Turkey knows that Iran, Iraq, Azerbaijan, Russia and Turkmenistan are the key supplier countries, and that's why we will turn to these countries to meet our demands," Yildiz said.
The Turkish government predicts that the country's electricity consumption would double by 2023.
Namjoo, heading a high ranking delegation arrived in Istanbul on Tuesday morning to attend the second International Water Meeting.
He was scheduled to visit a number of energy installations in Ankara on Wednesday.
Iran-Turkey trade hits $3.3
The value of trade between Iran and Turkey surpassed 3.3 billion dollars in the first three months of 2011.
The amount shows 68.73 percent increase in comparison to the same period previous year, IRNA reported.
The two countries' trade value stood at $10.6 billion in 2010, which was 97 percent more than 2009.
Previously, Turkish Statistical Institute reported that the two countries' trade value will surpass 15 billion dollars in 2011 by enforcing the inked preferential trade agreement.
President Mahmoud Ahmadinejad in February announced that the value of trade between Iran and Turkey will reach $30 billion in the Iranian calendar year 1390 (to end March 20, 2012).
Ahmadinejad made the remarks during a joint press conference with Turkish President Abdullah Gul.
"The value of trade exchanges between the two countries surpassed 10 billion dollars last year and we are determined to increase it to 30 billion dollars through comprehensive cooperation," Ahmadinejad stated.
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