Iranian President Ebrahim Raisi called the current level of trade and economic ties with Turkey insufficient, saying that bilateral trade could triple and reach $30 billion a year, Tasnim reported.

Speaking at a joint press conference with his Turkish counterpart Recep Tayyip Erdogan in Tehran on Tuesday, Raisi called Erdogan's visit a turning point in raising the level of relations between the two countries.

According to him, during the talks before the press conference, both sides reaffirmed their determination to develop relations in economic and trade fields and discussed expanding cooperation in other areas as well.

The two sides also highlighted the importance of developing investments between the two countries and voiced their intention to extend a 25-year contract on Iranian gas exports to Turkey.

Erdogan also expressed hope that the talks between the two sides will lead to a jump in bilateral ties.

He said that due to the coronavirus pandemic, bilateral trade has shrunk to $7 billion, but Tehran and Ankara intend to increase it to $30 billion.

Recall that Erdogan traveled to Tehran to attend Tuesday's trilateral summit with the presidents of Iran and Russia as part of the Astana peace process on Syria.