Iranian investment in Turkey on rise: Cooperation body

İZMİR - Anadolu Agency

Hossein Arian says Turkey is a good choice for Iranian companies. AA Photo

Iran’s investment interest in Turkey is rising, as it provides a route to break into the global economy, Aegean-Iran Cooperation Association has said to Anadolu Agency in İzmir.

With the United Nations Security Council’s sanctions on Iran, Iranian companies are trying to find a solution to integrate into the global economy and conduct business without restrictions by investing in countries that provide favorable economic conditions.

According to the Union of Chambers and Commodity Exchanges of Turkey, Iranian companies’ investments in Turkey have increased significantly from 2010 onward.

During 2010, Iranian companies established 418 companies in Turkey, while 665 new companies were established in 2011 and 781 in 2012. In 2013, this trend continued despite a slowdown.

Speaking to Anadolu, Hossein Arian, president of the Aegean-Iran Cooperation Association, said the main reason Iranian companies establish businesses in Turkey is because of the sanctions imposed on Iran by the U.N. Security Council.

“Iranian companies are trying to become international companies,” he said. “In the past, they did so by investing in Dubai. Now they mostly prefer Turkey and Georgia.”

Arian said the investors who went to Dubai a few years ago began to turn toward Turkey, which is seen as “a closer and friendlier country.”

“A quarter of investments from Iranian companies were made during the development of Dubai as a financial and business hub. Now there is political apathy between the sides. Companies that don’t feel at ease in Dubai have relocated their investments to Turkey,” he said.

Arian emphasized the close relationship between Iran and Turkey and said the majority of the population sees Turkey as a friendly country and think Turkey has supported them during the period of sanctions by finding resolutions to trading difficulties, while working within the sanction framework.