Islam Times - Turkey Plans to Reopen Border Crossing with Iran to Boost Trade

Islam Times - Turkey will open its Gürbulak border gate with Iran and the Habur border gate with Iraq this week in order to help boost trade as coronavirus containment measures are eased, Trade Minister Ruhsar Pekcan said on Wednesday.

In an interview with state broadcaster TRT Haber, Pekcan said the worst was over as she recalled the foreign trade data that was released on Tuesday.

The country’s exports rose 10.8% month-on-month in May, while they plunged nearly 41% year-on-year under the impact of the measures implemented to stem the spread of the pandemic.

In May, exports slid 40.8% year-on-year to $9.43 billion and imports fell 28.2% to $12.79 billion, according to the special trade system, trade ministry data showed. Special trade system data excludes imports to customs warehouses.

Turkey’s trade deficit for May widened by 78.7% year-on-year to $3.36 billion.