Bakhyt Sultanov held talks with the First Vice President of Iran in Tehran

Deputy Prime Minister - Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov met with First Vice President of the Islamic Republic of Iran Mohammad Mohber Dezfuli in Tehran.

The main topic of the meeting was the expansion of trade and economic cooperation between the two countries. Bakhyt Sultanov informed the First Vice President of Iran about the results of the Kazakhstan trade and economic mission and the 17th meeting of the Kazakh-Iranian Intergovernmental Commission, which took place the day before.

"The Islamic Republic of Iran is a historically friendly state and a regional partner of the Republic of Kazakhstan. The development of mutually beneficial relations with Iran is one of the country's foreign policy priorities," B. Sultanov said.

Iran is one of Kazakhstan's key trade and economic partners in the region. The possibility of fully using the potential of cooperation is limited by the sanctions regime. "We have held consultations with the US State Department on the issue of cooperation with Iran under sanctions," B. Sultanov informed. He also expressed hope that the ongoing negotiations between Iran and the United States in Vienna will be successfully completed in the very near future. It was noted that the volume of mutual trade does not reflect the real capabilities of the two countries. In this regard, the task was outlined to increase the volume of trade turnover to $3 billion in the coming years (in 2021, the trade turnover amounted to $440.1 million).

At the same time, it was noted that one of the directions for achieving this goal could be cooperation in the field of swap for a wide range of products, especially food products. It will also facilitate the entry of Kazakh exports to the markets of the Persian Gulf countries through the southern ports of Iran.

The meeting also discussed issues of cooperation in the banking sector, the development of logistics potential, as well as the joint use of sea and land ports of the two countries.

The Kazakh side also suggested that Tehran should not limit itself exclusively to trade, but move to more intensive investment cooperation and industrial cooperation. Currently, Iranian investments are already present in Kazakhstan (the project for the development of the Borly copper-molybdenum deposit and the construction of a hydrometallurgical plant for the production of cathode copper).

Kazakhstan is also interested in participating in the development of deposits on the territory of Iran. First Vice-President of Iran Mohammad Mohber Dezfuli supported the proposal to deepen cooperation in the field of MMC. "A number of successful projects are being implemented by our companies. To further expand the interconnections, we need to remove the barriers that hinder our business," Mr. Dezfuli said.

He also noted that Kazakhstan has already become a hub for the production of certain goods in the Eurasian space. At the same time, Iran, according to him, has the potential to become a similar hub in its region. The alignment and balancing of the interests and capabilities of the two countries, including in terms of industrial cooperation, will contribute to the convergence of economies and the promotion of the economic interests of Kazakhstan and Iran. At the same time, the expansion of the current temporary free trade agreement between the EAEU countries and the Islamic Republic of Iran to a full-format one will contribute to the expansion of mutual trade between the states.

The conclusion of a full-format agreement on the FTA will allow to cancel and/or reduce customs duties on at least 80% of the commodity nomenclature. As for banking cooperation, the First Vice-President of Iran suggested that the countries should focus on national currencies in mutual trade. The protocol of the 17th meeting of the Kazakh-Iranian Intergovernmental Commission provides for consideration of the possibility of establishing a joint committee on banking cooperation to determine appropriate methods and tools to facilitate trade between the two countries.

In order to intensify business contacts, Kazakhstan has decided to resume regular flights between Kazakhstan and Iran with a frequency of 4 flights per month. At the end of the meeting, the parties once again confirmed their mutual interest in deepening trade and economic cooperation.

Source: https://primeminister.kz/ru/news/bahyt-sultanov-v-tegerane-provel-peregovory-s-pervym-vice-prezidentom-irana-2214714

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