Iran, Kazakhstan maintain stable trade turnover

Business Materials 30 September 2017 14:43 (UTC +04:00)

Baku, Azerbaijan, Sept. 30

By Ali Mustafayev – Trend:

Economic relations between Iran and Kazakhstan are of regional importance, with promising areas of growth. In recent years the level of trade turnover between the two countries was changing, going up and down, but now it seems to have reached a stable level.

The bilateral trade turnover between Iran and Kazakhstan was declining from 2014 to 2016. Relatively good result amounting to $986.345 million in 2014 has decreased to $635.567 million in 2015 and $596.242 million in 2016, according to the Committee of Statistics of Kazakhstan.

Currently, the economic cooperation remains close to the result of the previous year with $273 891 million, during the first half of 2017. A large share in general trade turnover between the countries account for the export from Kazakhstan to Iran.

Kazakhstan’s export to Iran amounted to $892.503 million in 2014, $565.791 million in 2015 and $550.518 million in 2016. In the first half of 2017 the level of export amounted to $239.756 and it is expected to reach the level of the previous year.

Previously, Kazakh President Nursultan Nazarbayev and Iranian economic officials declared the two countries’ decision to increase their volume of trade turnover to $1 billion per year, during the meeting in April 2017.

President Nazarbayev called on Iranian companies to cooperate in agricultural and mining sectors in his country, and pledged to take measures aimed at easing visa requirements for Iranian traders.

However, the only positive indication at present time is the stability of economic relations between Iran and Kazakhstan, and the plans over the further development are seem to be in process of implementation.