Kazakhstan trade and economic mission takes place in Tehran
A two-day Trade and economic mission of Kazakhstan has started in Tehran (Iran) today. Two dozen Kazakhstani companies representing the products of the machine-building, food, pharmaceutical industries, and the production of building materials represent their export opportunities.
As noted by Vice Minister of Trade and Integration Kairat Torebayev, who opened the Kazakh-Iranian Business Forum within the framework of the TEM, "Kazakhstan systematically implements strategic goals and objectives aimed at developing trade and economic relations of the country, integrating hundreds of small and medium-sized enterprises with foreign markets."
"Last year, covid restrictions had a negative impact on mutual trade between Kazakhstan and Iran, reducing it by 37%. But already in 8 months of this year, we were able to exceed the volume of trade turnover of the entire last year. This indicates the great potential of our countries' trade," Torebayev said.
The analysis revealed the potential for increasing exports to Iran of Kazakh goods of the metallurgical industry, food, machine-building chemical and pharmaceutical industries in the amount of $162.3 million.
The Vice Minister of Trade and Integration of the Republic of Kazakhstan welcomed the negotiation process on the transformation of the interim agreement signed between Iran and the Eurasian Economic Union on the creation of a free trade zone into a full-format agreement that will contribute to the growth of trade turnover between the countries.
Exploitation contributes to the growth of cooperation between the two countries
Kazakhstan-Turkmenistan-Iran railway. This message provides an opportunity for transshipment of 10 million tons of cargo.
"Through this road, Iran has the opportunity to enter the Russian and Chinese markets, in turn, our country - to all the states of the Persian Gulf. This highway has had a positive impact on bringing bilateral and regional trade and economic cooperation to a new level," said Kairat Torebayev.
As Kazakh Ambassador to Iran Askhat Orazbai noted, the attention of Iranian business in Kazakhstan's Trade and economic mission demonstrates "the existence of a huge mutual interest between our countries in the development of trade and economic ties."
Ambassador Orazbai spoke about the successful development of cooperation between Kazakhstan and Iran in the field of investment.
"Last year, Iranian investors attracted 4.3 million dollars of direct investments in the economy of Kazakhstan. For the first quarter of this year, this figure has already amounted to $ 1.7 million. There are many new projects under implementation. For example, a contract was signed relatively recently between the Aktau Seaport and the Chamber of Commerce of Qazvin for the construction of a commercial and logistics complex on the territory of the port," the Ambassador said.
He also said that a Memorandum on wheat trade was signed between Kazakhstan, Iran and Russia, allowing temporary import, transit and swap of Kazakh wheat to these countries. This mechanism should be used as much as possible.
"We have all the necessary mechanisms to increase our cooperation, and most importantly, the desire and strong political will of the leaders of the two states," the Kazakh delegation stated.
The Iranian side, which was headed by the President of the Chamber of Commerce, Industry, Mining and Agriculture of Iran Mr. Gholamhossein Shafei at the TEM, noted their interest in increasing mutual trade.
"Our countries have a huge potential both for trade with each other and for business cooperation in various fields. Both of our countries have a convenient logistics location between China, India and the European market. We would like to see Kazakh companies operating in Iran, and Iranian companies in Kazakhstan," Mr. Shafei said.
Within the framework of the Trade and Economic Mission of Kazakhstan to the Islamic Republic of Iran, B2B meetings were held with the participation of business circles of the two countries. On the Iranian side, more than 100 enterprises took part in both the Business Forum and B2B meetings.
On October 12, visiting meetings of Kazakhstani entrepreneurs with Iranian companies Trade Promotion Organization, Iran Chamber of Cooperation, as well as retail centers Shahrvand, MAF Pars (Hyperstar), Refah are scheduled.
Business negotiations are continuing.
For reference:
The trade turnover between Kazakhstan and Iran in January-August 2021 amounted to $318.2 million, which is 2 times higher than in the same period of the previous year ($157.3 million)
In 2020, the trade turnover amounted to $237.0 million. which is 37.2% lower than in 2019. (In 2018, the volume of mutual trade between Kazakhstan and Iran amounted to $519.1 million).
Kazakhstan's exports to Iran in January-August 2021 amounted to $218 million.
The main export products are: barley, wheat, rapeseed and flax seeds, dried legumes, rapeseed oil, waste obtained from the extraction of other vegetable oils, lamb or goat meat, other animal products. As well as copper and copper cathodes, waste and scrap of ferrous metals, seamless pipes, tubes and profiles of ferrous metals.
Imports to Kazakhstan from Iran in January-August 2021 amounted to $100.2 million.
The main import goods to Kazakhstan from Iran are: other nuts; dates, figs, pineapples, avocado, guava, mango, fresh or dried; apples, pears and quince, fresh; grapes, fresh or dried. And also: styrene polymers, unglazed ceramic tiles, paints and varnishes based on synthetic polymers in a non-aqueous medium.