Turkey's Izmir Chamber of Commerce (IZTO) and the visiting Tehran Chamber of Commerce, Industry and Mining from Iran on Wednesday vowed to further economic ties between the two cities, Turkish semi-official Anatolia news agency reported.

Speaking at a meeting, IZTO Chairman Ekrem Demirtas said that despite the various embargoes that Iran faces, Turkey considers the Islamic republic "a brotherly and friendly" country.

Demirtas said Izmir only contributes 2 percent of the total Turkish-Iranian trade volume, which is estimated at 15.5 billion U. S. dollars, and that only 90 out of 2,015 Iranian companies in Turkey have operations in Izmir.

The IZTO chief said those figures are not acceptable and Izmir welcomes more Iranians to set up local businesses and the city is willing to offer more opportunities.

"Soon, you will be able to purchase real estate property in Izmir. We will make the task of Iranian companies in Izmir easier right after they were established," said Demirtas, hailing the protocol signed on Wednesday as a boost of the friendship between Izmir and Tehran.

Masoud Maleki, the head of the Iranian delegation, said for his part stressed at a time of mounting sanctions, Iran acknowledges Turkey's constant support and will reciprocate its goodwill.

"Iran has great potential in the petrochemical, energy and natural gas fields. Turkey can make use of the affordable energy in Iran and use this energy in advanced technology," Maleki said.

Iran meets 11 percent of all world's oil need and 16 percent of all world's natural gas demand, and is ready for investment in the fields of energy, electricity and education, Maleki noted, inviting Turkish businessmen to invest in the Islamic republic.

The Iranian delegation is scheduled to visit the industrial zone and free trade regions of Izmir later on Wednesday.