The Post-Sanctions Iranian Economy and Turkey

As of today, both Iran and Turkey are among the 10 top export partners of each other, presenting a trade outlook to be further developed.

The nuclear deal reached in 2015 marked the start of a new era for Iran and its current or prospective economic partners. This landmark agreement, which has put an end to years of sanctions has allowed the country to (almost) freely integrate into the global economy. So, as an unsaturated major market, Iran has recently become the world’s new apple of the eye. This article intends to draw a brief profile of the Iranian economy and establish the basics regarding its relations with Turkey.

Based on the latest data, Iran has an economy of a size nearly half that of Turkey. One apparent reason for the country lagging significantly behind its potential in recent decades is that it missed the chance to take advantage of the globalization wave. As a result, it was deprived of the global supply chains, which also possibly correlates with the low productivity levels currently dominating the economy.

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[The New Turkey, June 16, 2016]

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