Iran, Kazakhstan set goals for $10b in trade

Tehran Times Economic Desk

Iran, Kazakhstan set goals for $10b in tradeTEHRAN – The Iranian commerce minister met with the Kazakh ambassador to Tehran on Wednesday and called for an increase in trade volume from the present $3 billion up to $10 billion annually.

In this meeting, Mehdi Ghazanfari reiterated the need to enhance trade and commercial relations between the two countries, and stated banks make up the infrastructure of commercial activities and Iran is willing to open an independent bank or a shared one in Kazakhstan.

He added that the office of the Export Development Bank of Iran in Kazakhstan may be transformed into a branch of that bank if agreed upon by the two countries, the Mehr News Agency reported.

In regard to the activities of numerous Iranian technical and engineering services companies he said, “Opportunities should be created for these companies to get familiar with current projects and companies working on them in Kazakhstan.”

“Investing in ports, cooperating in oil and gas projects, holding international fairs, and providing construction material and agricultural machines are other fields Iran can cooperate in,” he added.

Chandeliers, pistachios, potatoes and home appliances constitute the main items exported from Iran to Kazakhstan.

Up to now ten joint committees for economic cooperation meetings have been held between the two countries