Turkish Prime Minister Recep Tayyip Erdogan will travel to Tehran on Tuesday for an official visit after a recent interim nuclear deal between the West and Iran paved way for the West to partially lift economic sanctions on the country, Turkish diplomatic sources said.

Erdogan will have talks with the President of Iran Hassan Rouahni, First Vice President Eshaq Jahangiri and the religious leader Ayatollah Ali Khamenei.

The Turkish prime minister will deliver a speech at international institute of the Iranian foreign ministry.

Turkey and Iran will sign an agreement to establish a high level cooperation council between two countries in a bid to improve economic relations between Ankara and Tehran.

The two countries aim to increase bilateral trade up to 30 billion US dollars by 2015, Foreign Minister Ahmet Davutoglu said during his Iranian counterpart Mohammad Javad Zarif's visit to Turkey in early January.

However, David Cohen, the US secretary for terrorism and financial intelligence, had talks with Turkish officials in Ankara on Monday, warning companies to "hold off" making business with Iran because sanctions are still in place.