Iran to soon open border market on North Khorasan-Turkmenistan border

The Iranian industry, mine and trade said a border market will soon be opened on Turkmenistan border in a bid to boost local economy.

25 June 2019
ID : 22069
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The Iranian government is about to open a border market in North Khorasan Province’s border with Turkmenistan to boost local economy as well as broader trade ties with the northeastern neighbour.

“A border market will soon open in the North Khorasan Province that will benefit the locals,” said Iran’s Minister of Industry, Mine and Trade Reza Rahmani, addressing a meeting with provincial authorities and lawmakers on Tuesday.

Iran’s North Khorasan Province shares a long 300-km border with Turkmenistan. However, there isn’t a border market in the area.

Iran exported over 735,000 tons of commodities worth over $400m during the last Iranian year 1397 (to 20 March, 2019), according to the figures by Iran Customs Administration (IRICA).

The digits show a decline of 4.3% and 16.5% in value and weight respectively.

Iran imports from the country also decreased 28.7% in value and over 45% in weight during the same period.

The Iranian exports to Turkmenistan hit $1bn in 2016.

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