Iran is ready to invest in refining projects in Kazakhstan

This proposal was announced by the Deputy Minister of Agriculture for Trade and Market Regulation of Iran Alireza Peymanpak at a meeting with Deputy Prime Minister - Minister of Trade and Integration of Kazakhstan Serik Zhumangarin.

According to him, Iranian investors and manufacturers are ready to invest in the production of medicines, the construction of a dairy production plant, the processing of agricultural products and others. Serik Zhumangarin welcomed the decision of the Iranian colleagues, saying that he would submit all proposals to the Kazakh business for consideration.

The parties also discussed the draft of a joint roadmap of projects aimed at increasing mutual trade turnover to $ 3 billion. These projects cover almost all industries, but the main pool, for about 1 billion US dollars, consists of projects in the agricultural sector. The products of the Kazakh agro-industrial complex are very popular with the Iranian consumer. Today, Kazakhstani enterprises regularly supply domestic products to the Iranian market. The main exports to Iran are traditionally wheat, barley, sunflower oil, flax seeds, aluminum and ferrous metals. Petroleum products, fresh vegetables and fruits, and construction materials prevail among imported supplies. The trade turnover between Kazakhstan and Iran in 2022 amounted to 528 million dollars, an increase of 19.8% compared to the previous year.

The meeting of Serik Zhumangarin and Alirezypeymanpak took place following the results of the Kazakh-Iranian business forum held on June 27, 2023 in Astana. The business platform brought together over 100 representatives of large and medium-sized companies from Kazakhstan and Iran. Entrepreneurs specializing in the supply of agricultural products, food products, tourism services and investments held bilateral negotiations in the B2B format.