Turkish foreign ministry said on Tuesday that the full implementation of Iran nuclear deal was essential for peace, security and stability of the region.

Turkey welcomed the historic nuclear deal reached between Iran and six major powers, and congratulated the parties involved, according to the foreign ministry's statement released on Tuesday.

The statement read, the full implementation of the nuclear deal between Iran and six world powers was of vital importance for the peace, security and stability of the region.

In addition, Turkish Prime Minister Ahmet Davutoğlu also expressed his pleasure with the deal at his Justice and Development (AK) Party's headquarters in the capital, Ankara.

"I wish this agreement had been reached beforehand and the threat of nuclear weapons removed," said Davutoğlu.

Calling the removal of sanctions a "positive" development, the prime minister said Turkey would take the side of approaches that would support regional and global peace.

Iran's nuclear deal is "great news" for the Turkish economy as it is likely to boost bilateral trade, Turkish Finance Minister Mehmet Şimsek had said earlier on Tuesday.

European Union foreign policy chief Federica Mogherini on Tuesday formally announced that Iran and six major powers had reached an agreement to curb the Iranian nuclear program in exchange for economic sanctions relief.

"It is a great honor for us to announce that we have reached an agreement on the Iranian nuclear issue," Mogherini told a news conference. "This is an historic day ... because we have created the conditions for building trust and opening a new chapter in our relationship."

Iranian foreign minister said the nuclear deal will help build confidence and called the accord a historical event.

"Today is a historical day ... the deal will help building confidence between Iran and the powers," Zarif said.

He said, the agreement shows Iran's peaceful approach and Iran under no circumstances is trying to make nuclear weapons. "This is the end of our negotiations, but not of our joint work; we shall follow up this serious commitment," the Foreign Minister said.