Iran chamber of commerce president said on Thursday that bilateral trade with Kazakhstan, currently estimated at about $350 million, could rise several-fold in the short term if existing logistical and financial bottlenecks are addressed.
Speaking at the Iran-Kazakhstan Business Forum held in Astana and attended by the presidents of both countries, Samad Hassanzadeh said studies show that inadequate transport and logistics infrastructure, the absence of a joint bank and reliable financial mechanisms, and competition from regional products in Kazakhstan remain major obstacles.
“Removing these barriers requires joint planning, government support and the active involvement of the private sector,” he said.
Hassanzadeh highlighted the International North-South Transport Corridor (INSTC) as a key platform for cooperation, saying the route – which passes through Iran and connects to the port of Bandar Abbas – provides Kazakhstan and other CIS countries with access to the Persian Gulf and markets in South and East Asia.
He said expanding the corridor would cut transportation costs and play a vital role in strengthening regional food security, energy links and trade. “Completing the infrastructure of this corridor and resolving its operational challenges must be a priority in our joint cooperation,” he added.
Hassanzadeh said Kazakhstan is a top strategic partner for Iran due to geographical proximity, shared interests and its membership in the Eurasian Economic Union, and that Iran Chamber of Commerce stands ready to take practical steps to deepen economic ties.