Iran, Kazakhstan plan to
promote economic ties to reach $3bn trade target: Minister

 

Iran and Kazakhstan have plans underway to step
up their economic cooperation with the aim of reaching a $3-billion target set
for their annual trade, the Iranian minister of agriculture said.

The two neighboring states could speed up
efforts to increase the volume of their annual to the $3 billion target, Javad
Sadatinejad, heading a high-ranking economic delegation to Astana, said on
Wednesday.

“The volume of trade between the two countries
currently stands at 500 million dollars, and should grow six times,” he said.

The minister has traveled to the Kazakh capital
to participate in the 18th Iran-Kazakhstan Joint Economic Commission meeting
scheduled to be held on Wednesday and Thursday.

Iran-Kazakhstan Economic Commission, which its
18th session will be held this year, is one of the active economic commissions
between the two countries, and in this regard, six delegations from Kazakhstan
traveled to Iran last year so the ties between the two nations enjoy a high
level, the minister added.

Strengthening as well as expanding mutual
cooperation between the two countries in the fields of agriculture,
extraterritorial cultivation, banking, transportation and transit is among the
major subjects expected to be discussed in the two-day event.

Kazakh President, Kassym-Jomart Tokayev, visited
Tehran at the invitation of his Iranian counterpart Ebrahim Raeisi in June,
2022.

Iran and Kazakhstan are both members of the
Economic Cooperation Organization (ECO). This provides a safe trading channel
for the two countries, without worries over the impacts of US sanctions on
Iran.