Kazakhstan and Iran Explore Ways to Boost Mutual Trade

The parties pointed out the importance of improvement of the mechanism of mutual interbank payments to enhance the trade-economic cooperation between Kazakhstan and Iran.

Photo credit: kapital.kz.

On Tuesday, Kazakhstan’s Ambassador to Iran, Ontalap Onalbayev, met with Mohammad-Ali Dehghan Dehnavi, Deputy Minister of Industry, Mine, and Trade of Iran and Chairman of the Trade Promotion Organization, according to the press service of the Kazakh Foreign Ministry, The Caspian Post reports citing Kazinform.

At the meeting, the sides agreed to intensify bilateral cooperation in trade, industry, mining, transport and logistics sectors as well as in mutual payments. The parties also discussed the implementation of the Road Map aimed at increasing bilateral commodity turnover to $3 billion as well as holding the 20nd joint meeting of the Kazakh-Iranian Intergovernmental Commission for Trade-Economic, Scientific-Technical and Cultural Cooperation slated for early 2025 in Astana.

Ontalap Onalbayev emphasized that Astana attaches priority importance to reinforcing the bilateral relations with Tehran, and stated that the Iranian Trade Promotion Organization plays an important role in boosting the mutual interaction.

Photo credit: mfa.gov.kz

The Kazakh side noted its readiness to establish close cooperation with the Trade Promotion Organization of Iran to raise mutual trade-economic ties to a new level.

In turn, Mohammad-Ali Dehghan Dehnavi said that Iran views Kazakhstan as a strategic partner and welcomed full utilization of the two countries’ enormous potential for the implementation of the bilateral agreements reached.

The Chairman of the Iranian Trade Promotion Organization hailed the two sides’ potential in transport and logistics sectors and proposed the Kazakh side to use the potential of the North-South international corridor and Iran’s maritime ports on the Caspian Sea and the Persian Gulf coasts.

The Iranian official invited governmental agencies and business of Kazakhstan to participate in the III Eurasia Expo 2025 international exhibition scheduled for February 21-24, 2025 in Tehran.

The sides also agreed to further develop mutual investment cooperation and drew attention to a successful implementation of a number of projects in industrial and mining sectors.

The parties pointed out the importance of improvement of the mechanism of mutual interbank payments to enhance the trade-economic cooperation between Kazakhstan and Iran.