A two-day Trade and Economic Mission of Kazakhstan started in the Iranian capital, Tehran.
According to the press service of the Ministry of Trade and Integration, dozens of Kazakhstani machine building, food, pharmaceutical, and construction materials companies are to showcase their export potential at the event.
In his remarks at the Kazakh-Iranian Business Forum within the framework of the event Vice Minister of Trade and Integration Kairat Torebayev noted that Kazakhstan gradually implements its strategic goals aimed at the development of trade and economic relations of the country by integrating hundreds of SMEs with external markets.
Last year the coronavirus restrictions had a negative impact on Kazakhstan-Iran two-way trade as it dropped by 37%. However, in the past eight months of this year we were able to increase the volume of last year’s trade turnover. This speaks loads about the potential of trade between our countries," Kairat Torebayev stressed.
Based on a recent analysis, it was revealed that the volume of Kazakhstan’s exports to Iran may potentially reach up to $162.3 million.
Kazakhstan’s Vice Minister of Trade and Integration welcomed the negotiations on turning the interim agreement on a free trade zone between Iran and the Eurasian Economic Union member states into a full-fledged one which will boost trade turnover between our countries.
Kazakhstan’s Ambassador to Iran Askhat Orazbai added that the interest of the Iranian business in Kazakhstan’s Trade and Economic Mission demonstrates huge mutual interest of the countries in developing the trade and economic ties.
Over the past year Iranian investors attracted $4.3 million of direct investment into Kazakhstan’s economy. The figure has amounted to $1.7 million in the first quarter of 2021. A host of new projects is being implemented. For instance, Iran signed a contract with the Kazakh side to build a commercial and logistics complex on the territory of the Aktau Sea Port," Ambassador Orazbai.
In conclusion, it was noted that there are all necessary mechanisms in place to step up Kazakhstan-Iran cooperation.
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