Kazakhstan, Astana, June 27 / Trend D. Mukhtarov /
Kazakhstan and Iran have agreed to increase bilateral trade turnover from $1.2 billion to $5 billion in the coming years. Such an agreement was reached during a meeting between Kazakh President Nursultan Nazarbayev and Iranian Foreign Minister Ali Akbar Salehi.
However, according to the Iranian minister it is necessary to simplify customs and banking procedures to ensure that growth.
The increase in turnover is planned to be achieved through expansion of cooperation in industry and mining. In particular, the Iranian Sadid industrial group had indicated its willingness to invest in the construction of a hydropower station and oil and gas projects through joint ventures.
The Iranian Ladzhavar company offered cooperation in the production of various types of cranes.
In addition, both sides expressed willingness to consider the possibility of cooperation in mining, and exploration.
According to the Chamber of Commerce of Iran, Iranian private companies in the case of the provision of appropriate incentives from Kazakhstan are willing to cooperate in the delivery of engineering services in areas such as the construction of roads, bridges, airports, cement plant and a business centre. The Chamber also expressed its readiness to organise the transit of Kazakh grain through Iran to third countries.
Following the 12th session of the intergovernmental commission between the two countries held in Astana, Salehi and the Minister of Transport and Communications of Kazakhstan Askar Zhumagaliyev signed a protocol. In particular it noted that Iran agrees to complete construction of the Iranian section of the Uzen-Gorgan railway by the end of 2012.