Iran Propose Roadmap to Boost Bilateral Trade with Kazakhstan to $3 Billion

During a meeting with Kazakh Prime Minister Alikhan Smailov in Tehran on Wednesday, Mokhber emphasized the importance of long-term planning to achieve this goal, and suggested areas of cooperation including transit, energy, industry, mining, and agriculture.

The two countries can develop cooperation in various fields such as transit, energy, industry, mining, and agriculture, Mokhber said, adding that Iran is equipped with the know-how to establish dams and power plants and produce medical equipment among various other capabilities.

He also highlighted the potential for cultural and tourism cooperation between the two countries and suggested the use of national currencies for bilateral trade.

He then referred to the potential of regional organizations such as the Eurasian Economic Union and Shanghai Cooperation Organization, saying that Iran and Kazakhstan can boost bilateral trade by relying on these capacities and facilitating trade for private companies.

Smailov welcomed the proposal, noting that developing relations with Iran is among the priorities of Kazakhstan’s foreign policy. He described Iran as the most important trade partner of Kazakhstan in the Persian Gulf region, and expressed readiness to enhance cooperation in all areas.

Officials from both countries signed five MoUs and one agreement at the end of the meeting, focusing on boosting ties in areas such as sports, customs, free zones, and tourism.

The latest figures put the value of trade between Iran and Kazakhstan in 2022 at $528 million, with Iran's exports accounting for $210 million of the total value. The presidents of the two countries have set a target of $3 billion in annual trade during their previous meetings.