BAKU, Azerbaijan, February 15. Iran and Kazakhstan are striving to reach the target trade turnover of $3 billion per year between the two countries, said Iran's Agriculture Minister Gholamreza Nouri Ghezeljeh, Trend reports.
Ghezeljeh shared this goal during a meeting in Tehran with Kazakhstan's Minister of Trade and Integration, Arman Shakkaliev.
The minister emphasized that both countries are taking steps to enhance cooperation potential. They are planning to sign a strategic document in the agriculture sector, strengthening bilateral ties.
Minister Shakkaliev noted that last year, the trade turnover between Kazakhstan and Iran exceeded $300 million. However, considering the potential of both countries, this is still a modest figure. He stressed that further actions are needed to achieve the goal of $3 billion in trade turnover. As a first step, Kazakhstan and Iran aim to bring their trade volume to $500 million.
He also mentioned that Kazakhstan is eager to collaborate with Iran's major companies and is committed to eliminating customs duties. He pointed out that Kazakhstan could export 2 million tons of wheat and barley to Iran annually without duties.
The Kazakh minister further expressed Kazakhstan’s interest in importing Iranian agricultural products and highlighted that Iran is crucial for the export of Kazakhstan's goods to regional countries.
"Kazakhstan is determined to address issues related to banking exchanges for investments in various sectors, including copper and mining, and consultations will take place between the two countries on this matter," he added.
Iran's trade turnover with Kazakhstan amounted to about 526,000 tons worth $275 million during the ten months of the current Iranian year (from March 20, 2024, through January 19, 2025).