Trade between Iran, Kazakhstan increases 17 percent in 5 months yr/yr
Date
9/22/2024 4:47:30 AM
(MENAFN) In the first five months of the current Iranian calendar year, the value of non-oil trade between Iran and Kazakhstan saw a notable increase of 17 percent compared to the same period last year, according to a report from the Islamic Republic of Iran Customs Administration (IRICA). The total non-oil trade volume reached 264,416 tons, valued at approximately USD119.357 million. However, it is important to note that there was a slight decline of one percent in weight compared to the previous year. Kazakhstan has emerged as Iran's 11th largest trade partner among neighboring countries during this timeframe.
Despite this growth, the head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) expressed concerns regarding the relatively low trade volume between the two nations. Samad Hassanzadeh emphasized the urgency of implementing joint cooperation agreements to enhance economic ties. He pointed out that the current trade volume of USD300 million does not adequately reflect the existing potential and resources of both countries. During a meeting with Kazakhstan's Ambassador to Tehran, Ontalap Onalbayev, Hassanzadeh reiterated the ambitious target of achieving USD3 billion in trade, as outlined in their joint cooperation agreement.
Hassanzadeh highlighted the importance of logistics collaboration among Iran, Kazakhstan, and Russia, suggesting that improved transportation networks could significantly facilitate trade among these nations. He also extended an invitation to the head of the Kazakhstan Chamber and its business community to visit Iran. He stressed that Iran's strengths in various sectors, including engineering services, petrochemicals, agriculture, pharmaceuticals, and information technology, could pave the way for fruitful collaborations between the private sectors of both countries.
In response, Ambassador Onalbayev acknowledged the strong political and economic ties that have developed between Iran and Kazakhstan, particularly in regional organizations. He emphasized the established cooperation in cargo transit and the various modes of transportation, including sea, rail, and land routes. The ambassador noted that about 70 percent of the trade between the two nations last year was attributed to Iranian exports to Kazakhstan, highlighting opportunities for growth in sectors such as meat production, agricultural products, petrochemicals, and construction materials. Both parties reaffirmed their commitment to increasing annual trade exchanges to the ambitious target of three billion dollars, as discussed during the 19th Iran-Kazakhstan Joint Economic Committee meeting in December.
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