The Kazakh-Iranian Business Forum was successfully held in Tehran

The Kazakh-Iranian Business Forum was successfully held in Tehran

As part of the visit of the Head of State K.K.Tokayev to the Islamic Republic of Iran, a Kazakh-Iranian Business Forum was held in Tehran. The event was attended by heads of state bodies and national companies of the two countries, representatives of the business community.

Deputy Prime Minister - Minister of Trade and Integration of Kazakhstan Bakhyt Sultanov on behalf of the Kazakh Government thanked the Iranian side for organizing the event.

- The Kazakh-Iranian business Forum has every chance to become an effective "tool" for deepening bilateral cooperation, and a direct communication channel between the business circles of the two countries, - he noted.

Bakhyt Sultanov said that Iran is one of the important trade and economic partners of Kazakhstan. Close contacts between the Heads of our States give a solid foundation for modern mutually beneficial and equal cooperation. The Intergovernmental Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation between our countries is successfully functioning at the intergovernmental level (the 17th meeting was held on February 21-22, 2022).

It was noted that the peak of mutual trade between Kazakhstan and Iran occurred in 2014, when the volume of foreign trade amounted to almost $ 1 billion. Sanctions and the pandemic caused a 4-fold drop in trade turnover. However, since last year, there has been a positive growth in mutual trade. In 2021, it amounted to $440 million. The trade turnover in January-April 2022 has already exceeded the figures for the whole of 2020 ($238 million) and reached $253.2 million.

According to Sultanov, Kazakhstan and Iran have a great unrealized potential in mutual trade. The governments of the two countries set a goal of bringing the volume of bilateral trade to $3 billion in the coming years.

The products of the Kazakh agro-industrial complex and the food industry are currently the most popular among Iran. Today, more than 70 Kazakhstani enterprises regularly supply domestic products to the Iranian market. And their number is constantly growing.

The current Interim Free Trade Agreement between the EAEU member states and Iran contributes to stimulating the trade activity of the two countries. Currently, work is underway to conclude a full-scale free trade agreement.

In addition, mutual trade is promoted by mutual exhibitions and trade and economic missions. Thus, Kazakhstan conducted 2 trade and economic missions to Tehran (October 2021 and February 2022), as a result of which export contracts worth $19 million were concluded. During the Business Forum, B2B negotiations were also held and a number of trade and investment agreements worth $220 million were signed.

- It is important to maintain this pace. For our part, we are ready to support the request of Iranian entrepreneurs and increase the validity period of business visas to 14 days, which will have a positive impact on the interaction of the business circles of our countries, B. Sultanov said.

The forum also discussed priority areas for the development and deepening of bilateral trade and economic cooperation - transit and transport, agriculture and industrial cooperation.

Kazakhstan is ready to provide Iranian companies with sites in free economic and industrial zones for the implementation of joint projects. The business of the two countries also called for intensifying efforts to attract additional cargo flows and establish favorable tariff conditions on the Kazakhstan–Turkmenistan–Iran route.

A number of bilateral documents were signed at the Business Forum:

 

Memorandum of Understanding and Cooperation between QazTrade JSC and the Iran-Kazakhstan Joint Chamber of Commerce;
Memorandum "on the establishment of a joint working group on investments Kazakhstan-Iran" between JSC "NC "KAZAKH INVEST" and the Organization for Investment, Economic and Technical Support of Iran;
Agreement between JSC "NC "KAZAKH INVEST" and Babak Mess Iranian (Iranian Babak Copper Company) on projects for the development of copper ore deposits, production of copper concentrate (up to $ 200 million);
Memorandum of Understanding on the implementation of investment projects in the field of MMC between JSC "NC "KAZAKH INVEST" and Dana Kish Investment Company;
Memorandum of Intent on Cooperation between KazakhExport ESC JSC and Iran Export Guarantee Fund;
Memorandum of Understanding between the Foreign Trade Chamber of Kazakhstan and the Iran-Kazakhstan Joint Chamber of Commerce;
The contract for the supply of polyethylene pellets in the amount of USD 10 million between Altyn Arna Geosynthetic and Newsad Tejarat Namdar Co. (Riseco Holding);
US$ 10 million campound supply contract between Altyn Arna Geosynthetic and Arsam Plast Raz Co. (Riseco Holding);
Framework agreement on cooperation between Central Asia Gold LLP and Babak Mess Iranian (Iranian Babak Copper Company);
Framework agreement on cooperation between Kaganat Onimderi LLP and Babak Mess Iranian (Iranian Babak Copper Company).