In a Sept. 16 address to Iranian and Turkish business representatives,
Erdogan said he was discussing the trade increase with the Teheran
leadership, Middle East Newsline reported. The meeting of 100 industrialists included Iranian Vice
President Mohammed Rahimi, who said Teheran would prepare for the sell-off
of government companies.
During Rahimi's visit, Iran and Turkey signed several agreements. One of
them called for the enhancement of their joint border, including the
construction of border facilities.
The business meeting was seen as challenging the U.S. and European Union
policy of isolating Iran, particularly its energy sector. In June 2010,
Turkey was the only NATO member to vote against United Nations sanctions
against Iran, which supplies about a third of Turkey's gas requirements.
In August 2010, a U.S. government delegation held talks with Ankara
regarding Turkish business dealings with Iran. Officials said Ankara was
warned to sever Turkish banking ties with Teheran.
Officials said Turkey has sought to purchase a major stake in such
government-owned industries as automobiles, machinery and textiles. They
said Ankara has also sought to enter Iran's huge natural gas sector over the
next year.
"We're hoping the efforts of the prime minister pay off, and I think
they will to some extent," said Mehmet Koca, a leading Turkish executive and
a member of the Iran-Turkey business group.
In 2008, Koca's fertilizer company, Gubretas, acquired a majority stake
in Iran's Razi Petrochemical. Koca said additional investments were expected
as the United Arab Emirates reduces its huge investment in Iran.
"Finance and trade that was carried out by Dubai and the United Arab
Emirates before the sanctions can be taken over by Turkey," Koca said.