Iran’s ambassador to Turkey has demanded that the bilateral economic transactions between Tehran and Ankara be increased to USD 20 billion in 2012, Press TV reports.

Bahman Hosseinpour was speaking at a Friday, April 6 meeting with Turkish Minister of Development and head of the Iran-Turkey joint economic taskforce Cevdet Yilmaz in the Turkish capital of Ankara.

During the meeting, the two sides held further discussions over the Tehran-Ankara agreements signed during Turkish Prime Minister Recep Tayyip Erdogan’s visit to Iran in late March.

Yilmaz, for his part, underscored the need for using the existing potential for the further enhancement of Iran-Turkey economic relations and implementing the mutual agreements.

The value of the Iran-Turkey trade exceeded USD 16 billion in 2011. The two countries plan to increase the level of their bilateral trade volume to USD 30 billion by 2015.