Iran-Kazakhstan Trade Ties Strengthened with Increase in Exports
(MENAFN) The value of Iran's exports to Kazakhstan increased by 27 percent in the past Iranian calendar year 1401, which ended on March 20. Iran exported commodities worth $210 million to Kazakhstan, while importing goods valued at $318 million from the country. The annual trade value between Iran and Kazakhstan also rose by 20 percent in the past year. These figures indicate a strengthening of trade ties between the two countries.
Recently, the Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam-Hossein Shafeie met with Kazakhstan's Deputy Minister of Trade and Integration Kairat Torebayev to discuss ways to expand trade ties between the two countries. During the meeting held at the ICCIMA, Shafeie highlighted the special position of Kazakhstan as a trade partner for Iran. He also noted that the presence of Iran and Kazakhstan in the Eurasian Economic Union (EAEU) and the Shanghai Cooperation Organization (SCO) pacts has opened new doors for the development of economic relations between the two countries. Shafeie encouraged the private sectors of both countries to take advantage of this opportunity.
Shafeie emphasized that improving rail, road, and sea transportation infrastructure should be a priority for the two countries. He stated that the most significant problem hindering the development of trade cooperation between Iran and Kazakhstan is transportation. Solving this issue requires the will of the authorities of both countries. Shafeie believes that the future of transit between the two countries can be bright due to Kazakhstan's connection to China and Iran's access to the open waters of Southeast Asia, provided that the infrastructure necessary for exploiting this opportunity is available.
The increase in trade ties between Iran and Kazakhstan is a positive development for both countries. It provides opportunities for economic growth and development. By leveraging their positions in the EAEU and SCO pacts, both countries can further strengthen their economic relations and explore new opportunities for cooperation. Improving transportation infrastructure will be crucial to facilitating trade between the two countries and realizing their potential for economic growth.
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