Iran, Kazakhstan eye $3 billion of annual trade

Deputy Prime Minister and Minister of Trade and Integration of Kazakhstan Bakhyt Sultanov said that his country could expand economic relations with Iran so that the volume of bilateral trade reach $3 billion.

20 June 2022
ID : 33814
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Deputy Prime Minister and Minister of Trade and Integration of Kazakhstan Bakhyt Sultanov said that his country could expand economic relations with Iran so that the volume of bilateral trade reach $3 billion.

Sultanov made the remarks addressing an Iran- Kazakhstan joint business forum in Tehran on Sunday which was participated private sector representatives from both countries.

He noted that the volume of trace between Iran and Kazakhstan witnessed an 85-percent increase in 2021 to reach $440 million. He further added that lion’s share of Kazakhstan's exports to Iran are grains.

"Given the Ukraine-Russia war, we are ready to increase the exports of grain, including wheat, to Iran," the Kazakh minister said at the meeting which was hosted by Iran Chamber of Commerce, Industries, Mines, and Trade (ICCIMA) adding that the volume of grains export to Iran from Kazakhstan could reach $1 billion.

Deputy Prime Minister and Minister of Trade and Integration of Kazakhstan Bakhyt Sultanov had visited the ICCIMA headquarters during a May 2022 visit to Tehran where he discussed bilateral economic ties with ICCIMA President Gholam Hossein Shafei.

Speaking at the meeting, President of Iran Chamber of Commerce Gholam Hossein Shafei said that Kazakhstan's memberships in the Eurasian Economic Union (EAEU) and the Shanghai Cooperation Organization (SCO) have enhanced the potential and significance of trade relations between the two countries.

He called for operational steps, including facilitation of visa issuance, to increase trade between the two nations.

Iran Chamber of Commerce president further underlined the need for the removal of rail and maritime transportation obstacles between Iran and Kazakhstan.

Businessmen and businesswomen discussed trade ties in B2B negotiations after the meeting. The forum was held during an official visit by Kazakh President Kassym-Jomart Tokayev to the Iranian capital. 

 

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