Kazakhstan looks to increase goods turnover with Iran

Business Materials 1 May 2019 10:24 (UTC +04:00)

Baku, Azerbaijan, May 1


Saparkhan Omarov, The Minister of Agriculture of Kazakhstan held a meeting with Majid Samadzadeh Saber, Ambassador of the Islamic Republic of Iran to Kazakhstan, Trend reports via Kazakh media.

During the meeting, the topic of the preparation for the 16th intergovernmental meeting in Nur-Sultan (former Astana) was discussed, due to the Ministry of Agriculture of Kazakhstan being the Co-chair of the Kazakh-Iran Intergovernmental Commission on trade and economy, scientific and technological and cultural cooperation.

The issue of the increase of the agricultural goods turnover was also covered and the agreement on the ways to increase the turnover up to $3 billion in the following years was reached.

Both parties especially highlighted the importance of the investment cooperation. Iranian side displayed interest in the realization of joint projects on agricultural production in Kazakhstan to be exported to Iran.

Reportedly, the Kazakh-Iran goods turnover on agribusiness production almost doubled in 2018 compared to the statistics of 2017 (from $197.8 million to $364.7 million).

"Kazakhstan’s export of agribusiness production to Iran increased by 1.9 times in 2018 compared to 2017 (from $169.3 million to $328.9 million)," reads the message.

"Iran’s export of agricultural business production to Kazakhstan increased by 25.7 percent in 2018 compared to 2017 (from $28.5 million to $35.9 million)," the report said.