Iran and Kazakhstan have set a $3 billion target for bilateral trade within the next two years.
Iran’s Deputy Minister of Agriculture Alireza Peimanpak and Kazakhstan’s Deputy Prime Minister Serik Zhumangarin in a meeting in Kazakhstan on Wednesday, finalized a roadmap for economic cooperation between the two countries.
The roadmap included plans by the two governments to increase bilateral trade to an annual $3 billion within a two-year time span.
In his visit to Kazakhstan, the Iranian deputy agriculture minister was accompanied by a delegation of experts in different agricultural and food areas.
The two sides have reportedly signed several agreements on exports of Iranian food and agricultural products to Kazakhstan and imports of the feedstock required by Iran from the country.
In an Iran- Kazakhstan joint business forum in Tehran last June, 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.
He noted that the volume of trade between Iran and Kazakhstan witnessed an 85% increase in 2021 to reach $440 million.
Sultanov further added that lion’s share of Kazakhstan's exports to Iran were grains.