Iranian Industry Minister Mohammad Reza Nematzadeh proposed an offer to jointly produce automobiles with Turkey to the Istanbul Chamber of Industry (ISO) delegation that recently visited Tehran.

According to Turkish Habertürk newspaper, Nematzadeh said: "We can design a new car in a 50-50 partnership and export in to the world." ISO Board Chairman Erdal Bahçıvan visited Tehran along with a delegation of 70 businesspeople in order to discuss trade and investment opportunities in Iran. During a meeting with the ISO delegation, Nematzadeh said they wanted to boost cooperation between Turkey and Iran, adding that they are establishing four new industrial zones so that businesspeople from the two countries can make joint investments. Iranian Communication Minister Mahmoud Vaezi, who is in charge of economic relations with Turkey, said Turkey is the first country Iran seeks to develop relations with and whose needs it wants to satisfy after the lifting of international sanctions. Bahçıvan also said the ISO is ready to take on responsibility in order to improve trade relations with Iran.

Stressing that the Iranian market must be closely followed, Bahçıvan said ISO will establish "an Iranian desk." He said the Turkish finance sector is the most important sector that must be present when strengthening relations between the two countries in the upcoming period, and added: "When problems such as high customs tolls, the inadequacy of transport and high natural gas prices are settled, foreign trade volume between the two countries might reach $100 billion."