Iranian Ambassador to Turkey Bahman Hosseinpour said that Iran's bilateral trade value with its western neighbor Turkey will reach 15 billion U.S. dollars by the end of this year, the local Tehran Times daily reported Wednesday.

The value of goods and services traded between the two countries reached 10.6 billion U.S. dollars during the first eight months of 2011, Hosseinpour was quoted as saying.

Iran gains access to world markets via Turkish companies despite sanctions by the United States. The total number of the Iranian firms in Turkey reached 1,470 by the end the last year, he said.

Hosseinpour said in July that the value of trade exchanges between the two neighbors reached about 11 billion dollars in 2010, up from 7 billion dollars in 2008.

According to a report by Turkish Statistical Institute in April, the trade volume between Iran and Turkey surpassed 2.14 billion dollars in the first two months of 2011, showing a 70-percent growth.