BAKU, Azerbaijan, December 4. Iran and Kazakhstan are planning to boost their economic and trade ties and aim for an annual trade value of $3 billion, Trend reports.
This was discussed at the 19th meeting of the joint economic and trade commission of the two countries.
The Iranian Agriculture Minister Mohammadali Nikbakht said that Iran values its relations with regional and neighboring countries, especially Kazakhstan. He noted that the current level of economic and trade cooperation between the two countries is very low and needs to be improved.
The Kazakh Deputy Prime Minister and Trade and Integration Minister Serik Zhumangarin said that the meeting resolved two important issues: transport-logistics and bank payments.
He expressed his hope that these solutions would help increase the trade volume between the two countries. He also invited Iranian companies to invest in various sectors in Kazakhstan, especially agriculture, and promised to provide the necessary opportunities for them.
The 19th meeting of the joint economic and trade commission of Iran and Kazakhstan took place in Tehran on December 2–3.
The latest report from the Islamic Republic of Iran Customs Administration (IRICA) shows that the non-oil trade between Iran and Kazakhstan amounted to over $147 million and 371,000 tons in the first seven months of the current Iranian year (March 21 through October 22, 2023), which is a 18.7-percent decrease in value and a 26.8-percent decrease in volume compared to the same period last year.
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