Iran Chamber of Commerce, Industries, Mines and Agriculture

Iran-Kazakhstan trade could rise to $3 billion, says chamber head

Iran and Kazakhstan could increase bilateral trade to $3 billion by expanding commercial cooperation, using regional transport corridors and taking advantage of Iran’s free trade agreement with the Eurasian Economic Union, the head of the Iran-Kazakhstan Joint Chamber of Commerce said.

Amir Abedi said Kazakhstan, with significant capacity in essential goods, transit, technical and engineering services and investment, was an important market for Iran in Central Asia. “Regional rail and multimodal corridors, together with Iran’s trade agreements with the Eurasian Economic Union, provide new opportunities for Iranian companies to expand their presence in the Kazakh market,” Abedi told the news website of Iran Chamber of Commerce. He said imports of essential goods from Kazakhstan had increased in recent months, with products including animal feed, soybeans, barley, wheat and edible oil transported to Iran by rail and multimodal routes. Abedi said Kazakhstan’s foreign trade exceeded $130 billion, while Iran’s share of that market remained below 0.5%. Bilateral trade currently stood at about $500 million, he said, with the two countries targeting $3 billion. To achieve that goal, Iran should make greater use of its companies’ capabilities in technical and engineering services, investment and manufacturing, Abedi said, noting that some Iranian firms had already participated in Kazakhstan’s production chains. He also described the Iran-Eurasian Economic Union free trade agreement as an important opportunity to facilitate access to regional markets and boost Iran-Kazakhstan trade. Kazakhstan can supply Iran with grains, animal feed, meat, edible oil and other essential goods, Abedi said, adding that contracts had been signed for wheat, barley and other products. Iran, meanwhile, has scope to increase exports of construction materials, food products, fruit and vegetables, plastics and industrial goods to Kazakhstan, he said. Abedi also called for expanded Iranian technical and engineering services in Kazakhstan, saying regulatory changes and easier access to tenders could help Iranian contractors participate more widely in projects there. He said improving financial and banking mechanisms was also important, while barter trade could help reduce some transaction costs and risks.
Iran Chamber of Commerce, Industries, Mines and Agriculture

Iran Chamber of Commerce, Industries, Mines and Agriculture

Quick Links
Get Connected
Subscribe Newsletter

Newsletter