Kazakhstan, Iran target $3 billion trade turnover with key forum in Tehran

Kazakhstan and Iran are working towards increasing their mutual trade turnover to $3 billion, with both nations aiming to enhance economic ties.

In a statement from the Ministry of Trade and Integration of Kazakhstan, Minister Arman Shakkaliyev expressed optimism about the prospects for growth in trade relations with Iran, Caliber.Az reports.

"We see great potential in increasing trade turnover with Iran up to $3 billion. We are ready to offer more than 60 commodity positions, including cereals, sunflower oil, meat products, and other goods worth $162 million for delivery to the Iranian market," said Shakkaliyev during a meeting with Mohammad Ali Dehghan Dehnavi, Iran's Deputy Minister of Industry, Mines, and Trade, and the head of Iran's Trade Development Organization.

The two countries are gearing up for a key event, a business forum and a trade mission in Tehran in February 2025. According to the Ministry, the mission aims "to strengthen bilateral ties between the countries, establish direct contacts between Kazakh producers and Iranian buyers, and expand Kazakhstan's export potential." The event is expected to open new opportunities for both countries' businesses, ultimately contributing to the development of trade and economic partnerships.

Reflecting the growing trade ties, the Ministry reported that by the end of November 2024, the trade turnover between Kazakhstan and Iran reached $296 million, marking an 8.1% increase compared to the same period the previous year. "Exports from Kazakhstan to Iran showed tangible growth, increasing by 29.1% and totalling $100.6 million," the Ministry added.

The main commodities supplied from Kazakhstan to Iran include barley, wheat, rapeseed, fresh or chilled beef, sunflower oil, corn, lamb, goat, and beef.

By Tamilla Hasanova