Kazakhstan, Iran eye increasing mutual trade turnover to $3B

Kazakhstan and Iran has signed an Action Plan to bring mutual trade turnover to $3 billion, according to the press service of the Kazakh prime minister, Report informs referring to Kazakh media.

The document was signed by Deputy Prime Minister of Kazakhstan Serik Zhumangarin and Iranian Minister of Agriculture Mohammad Ali Nikbakht at the 19th meeting of the intergovernmental commission on trade, economic, scientific, technical and cultural cooperation between the two countries, held in Tehran.

“The first step towards fulfilling this order will be the signing of an Action Plan to bring mutual trade turnover to $3 billion. The document provides for support for exporting enterprises in several areas: increasing the volume of mutual trade, lifting trade restrictions, introducing a bilateral clearing mechanism and more,” Zhumangarin said.

Kazakh manufacturers are ready to supply Iranian consumers with products for 75 product items for a total amount of about $250 million.

According to Iranian Minister of Agriculture Mohammad Ali Nikbakht, Iranian enterprises can arrange supplies of fish and dairy products, honey, fruits and vegetables, herbs, dried fruits and other food products to Kazakhstan. The Iranian side also showed interest in Kazakh investments and expressed its readiness to provide special conditions for doing business in free economic zones of Iran.