On November 1 this year, on the basis of the Astana International Financial Center, a Kazakh-Iranian business forum organized by the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan and KAZAKH INVEST NC JSC. The program of the event included a presentation of key speakers, a presentation of the investment and trade potential of Kazakhstan, as well as bilateral meetings with the business community of Iran.
Managing Director of QazTrade JSC A. Sagynaev during his speech emphasized the importance of trade cooperation with Iran, which is a key partner of Kazakhstan, and also spoke about the logistics opportunities in the bilateral trade of countries: “During 8 months of this year the trade turnover between Kazakhstan and Iran amounted to more than 350, 2 million USD, export of goods from Kazakhstan amounted to 215.3 million USD”. Most enterprises exporting their products (lathes, phosphoric acid, other vehicles) to Iran actively use the support measures of QazTrade JSC of the Ministry of Trade and Integration of Kazakhstan.”
Currently, the most popular with Iran are the products of Kazakhstan’s agro-industrial complex and food industry. Today, more than 70 Kazakh enterprises regularly supply domestic products to the Iranian market. And their number is constantly growing.
The current Interim Free Trade Agreement between the EAEU Member States and Iran contributes to the stimulation of trade activity of the two countries. Currently, work is underway to conclude a full-fledged free trade agreement.
- Sagynaev also noted that against the background of the positive dynamics of increasing mutual trade, there is a potential to increase the export of Kazakh products to Iran in the amount of more than 240 million US dollars (aluminum oxide, sunflower oil, flat iron, vehicles, medicines, polypropylene , rice, fittings for pipelines, ferrosilicomanganese and other products), in turn, QazTrade JSC, together with government agencies and national institutions, is ready to provide support in establishing cooperation between business representatives of Kazakhstan and Iran.