Iran, Kazakhstan trade predicted to hit $6 billion if hurdles removed

Participants of a major trade meeting between Iran and Kazakhstan underlined that once the visa and transportation obstacles on the way of trade relations between Iran and Kazakhstan are removed, trade between the two countries are expected to hit $6 billion.

12 October 2021
ID : 33149
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Participants of a major trade meeting between Iran and Kazakhstan underlined that once the visa and transportation obstacles on the way of trade relations between Iran and Kazakhstan are removed, trade between the two countries are expected to hit $6 billion.

The meeting was held in Tehran on Monday in presence of the president and some members of Iran Chamber of Commerce, Khazakhstan’s Deputy Minister of Trade and Integration Kairat Torebayev and the accompanying delegation, the heads of some production and exports associations, and representatives from the Ministries of Agriculture and the Foreign Affairs, Islamic Republic of Iran railways, Trade Promotion Organization of Iran (TPO) and Tehran Municipality.        

Speaking during the meeting, President of Iran Chamber of Commerce said that relations with Kazakhstan is of prime importance for Iran, as the country is a member to Eurasia Economic Union and Shanghai Cooperation Organization which increase Iran’s chance for further expansion of relations with the country.  

Shafei said that Iran’s trade with Kazakhstan stood at $235 million which is very insignificant compared with the country’s $85 billion annual foreign trade.

Underlining the importance of Iran-Turkmenistan-Kazakhstan corridor, he noted that the corridor connects Kazakhstan and other CIS member countries, the Persian Gulf and the Southeast Asian countries, helping develop the trade of countries along its way.  

The first freight train from Kazakhstan entered Iran in mid-August through Incheboron international railroad, carrying coal.

In the meantime, Mohammad Reza Karbasi, the Deputy for International Affairs of Iran Chamber of Commerce, referred to the formation of Iran-Kazakhstan Joint Chamber of Commerce in Iran, calling for setting up a mirror chamber in Kazakhstan.  

Head of Kazakhstan’s trade delegation, said for his part, that a temporary agreement for setting up a free trade zone between Iran and the EAEU has increased trade relations between Iran and Kazakhstan.

Torebayev expressed hope that the agreement will develop to become a permanent agreement.

He predicted that the launch of Iran-Turkmenistan-Kazakhstan railway will lead to a five-fold increase in Iran-Kazakhstan trade.

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