TEHRAN - Iranian Oil Minister Rostam Qasemi said here Sunday that Iran's natural gas exports to Turkey will increase following the establishment of a planned joint pipeline, according to Press TV.

A major pipeline coming from Iran's southwestern city of Ahvaz has been partially established and is planned to be completed with the participation of Turkish private companies to boost Iran's gas exports to Turkey, Qasemi said on the sidelines of a meeting with visiting Turkish Minister of Development Cevdet Yilmaz.

The contract on the joint pipeline project will be finalized by the end of May, Qasemi was quoted as saying.

In 2012, Iran-Turkey transactions in the energy sector reached over 12 billion U.S. dollars out of the 22-billion-dollar bilateral trade, he added.

"Iran is prepared to meet Turkey's needs for oil, gas and petrochemical products," said the Iranian minister, adding that " There is no limitation for the presence of Turkish companies and investors in Iran," according to the report.

On Friday, Yilmaz said his country supports the expansion of cooperation with Iran in all areas, particularly in the energy sector, and holds a positive view toward the transfer of Iran's gas to Europe via Turkey.

Turkey is located on a strategic corridor for the transfer of energy and is in dire need of it, Yilmaz was quoted as saying by Press TV.

Iran and Turkey used national currencies for 20 percent of their trade exchanges last year, Yilmaz said on Sunday, adding that the two countries' private sectors face no legal hurdles on doing trade in their national currencies.

The Turkish minister pointed out that the two countries' officials have agreed to upgrade their existing trade systems and take new steps to improve mutual cooperation.

On Saturday, Yilmaz hailed the expansion of Iran-Turkey relations during Mahmoud Ahmadinejad's presidency, saying that his country supports more cooperation with the Islamic republic, Press TV reported.

Turkey seeks to increase the volume of trade with Iran to more than 30 billion dollars from the current level of 22 billion dollars, said Yilmaz, who is heading an economic delegation for a three-day visit to Iran.

"Iran and Turkey are two large countries with plentiful talents, and the development of bilateral relations is in the interests of both countries and the entire region," said Ahmadinejad.