The signing ceremony took place in the presence of Iranian President Ebrahim Raisi and his Turkish counterpart, Recep Tayyip Erdoğan, in Ankara on Wednesday.
The cooperation agreements cover various areas such as railways, energy, joint commercial zones, and communications.
Raisi and Erdoğan met for private discussions on regional developments, especially the repercussions of the Israeli war on Gaza, as well as steps that can be taken to further strengthen bilateral relations.
After their private meeting, the two presidents also attended the eighth session of Iran-Turkiye Supreme Council of Economic Cooperation, where they agreed to expand cooperation on economic, security, political and cultural fields, among others.
At a press conference afterwards, President Raisi said Iran and Turkiye possess significant potentials that can be harnessed into a substantial expansion of relations in all areas.
“In the economic and trade sectors, we have taken effective steps, and we are determined to elevate the level of relations," he said.
The president said both sides are determined to increase the level of economic ties, setting an initial target of $30 billion in annual trade between the two neighboring countries.
Heading an economic-political delegation, Raisi traveled to Ankara on Wednesday and was officially welcomed by President Erdoğan.
The two leaders are expected to participate in a joint meeting with Iranian and Turkish traders and economic activists.
President Raisi will additionally meet with Iranian expatriates residing in Turkiye.
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