Kazakhstan and Iran are building trade and economic partnerships

Kazakhstan and Iran are building trade and economic partnerships. Last year, the countries signed bilateral agreements aimed to strengthen cooperation and  implement joint projects. As a result of the last 10 months, mutual trade between the two countries amounted to US$385 million. Kazakh exports made up the main share of the trade turnover. Last year, domestic products worth US$339 million were exported to Iran. Currently, the total cost of bilateral projects is estimated at US$2 billion. The parties are actively implementing joint investment projects.


 - Today, Kazakhstan has invested in Iran’s gold mining and Iran has started to invest into Kazakhstan’s mining industry. The range of partnerships is expanding. In addition to manufacturing, a number of new projects are being implemented in agriculture, construction, tourism and healthcare. I’m confident that these initiatives will strengthen the ties between our countries.

The opening of the Kazakh consulate in the Iranian city of Bandar Abbas will further strengthen the trade between the countries. According to Iranian Ambassador Mojtaba Damirchilu, Kazakhstan’s important strategic decision will give impetus to development of economic partnerships. According to the diplomat, the port in the Persian Gulf will allow the Kazakh goods to reach the Indian Ocean. At the end of the last year, the two countries signed a number of transport and logistics agreements. According to the agreements reached by the parties, transit cargo transportation started to be implemented towards the Iranian ports via the Kazakhstan-Turkmenistan-Iran railway and the Aktau port in the Caspian Sea.


 - Last year, we concluded agreements on cooperation about implementing our transit potential, particularly, transportation of goods from Europe to Asia through our countries. Kazakhstan wants to intensify cooperation with the Persian Gulf and India through Iran. Last month, the agreement was made regarding the export of the Kazakh grain and oilseeds. In addition, a number of administrative barriers were eliminated and tariffs for increasing turnover were reduced.