Gubretas say Turkey draws firms to invest in Iran, Milliyet says

Bloomberg: Dubai-based business are setting up branches in Turkey to trade more easily with Iran, Milliyet newspaper reported, citing Mehmet Kocaman, the Turkish part- owner of an Iranian fertilizer maker.

Bloomberg

By Steve Bryant

Dubai-based business are setting up branches in Turkey to trade more easily with Iran, Milliyet newspaper reported, citing Mehmet Kocaman, the Turkish part- owner of an Iranian fertilizer maker.

Kocaman said his company Gubre Fabrikalari TAS had been approached for advice on how to make transfers to and from Iran despite the banking restrictions sparked by U.S. sanctions over Iran’s nuclear program, the Istanbul-based newspaper said. He didn’t name the companies.

Gubre Fabrikalari, known as Gubretas, plans additional investments at its Iranian plant to add 1 million tons of new capacity, Milliyet said, citing Kocaman.