Iran and Kazakhstan Aim to Boost Trade Relations with New Agreements
According to the Economic Desk of Webangah News Agency, Iran and Kazakhstan are actively pursuing measures to increase trade and economic cooperation. A delegation from the Iranian private sector and Chamber of Commerce, led by Chamber President Samad Hassanzadeh, recently concluded a visit to Astana, Kazakhstan, securing nine cooperation agreements aimed at fostering joint ventures.
Both sides have concurred that the existing trade volume of $300 million between Iran and Kazakhstan is not commensurate with the capabilities and capacities of the two nations. They are prioritizing the swift implementation of a joint cooperation agreement to elevate trade relations. The geographical and cultural connections between Iran and Kazakhstan are seen as a foundation for expanding bilateral trade.
Iranian economic stakeholders believe that Iran possesses considerable potential in sectors such as food industries, petrochemicals, engineering services, road and bridge construction, refinery construction, manufacturing pumps and electric motors for the oil industry, medical and hospital equipment, handicrafts, handwoven carpets, construction materials, and mining projects. Each of these areas offers opportunities for collaborative endeavors.
The Iranian private sector emphasizes the need for strategic planning to develop tourism and facilitate trade delegations between Iran and Kazakhstan. Additionally, offering scholarships for Iranian students to study in Kazakhstan and for Kazakh students in Iran can strengthen scientific and educational cooperation.
Current challenges include inadequate transportation and logistics infrastructure, the absence of a joint bank and secure financial mechanisms, limited awareness among economic actors about each other’s markets, and competition from regional goods in the Kazakh market. Experts suggest that overcoming these obstacles requires joint planning, government support, and active engagement from the private sector.
A 100-member delegation from the Iranian Chamber, headed by Samad Hassanzadeh, traveled to Astana alongside the President’s visit to Kazakhstan. The delegation included heads of the Tehran and Gorgan Chambers, heads of technical and engineering services, construction and food industry commissions, and representatives from various private sector companies in technical and engineering service exports, agriculture, food industries, mining, and mineral industries. They participated in B2B meetings with their Kazakh counterparts to establish avenues for joint cooperation.
During the visit, the Iranian Chamber signed three memorandums of understanding, two with KazTrade and the Kazakhstan Trade Development Council, and one with the Atameken National Chamber of Entrepreneurs of Kazakhstan. These agreements focus on cooperation in trade information exchange, trade delegation visits, logistics, and green goods transportation. Several Iranian companies also signed six cooperation documents with their Kazakh counterparts in agriculture, mining, copper production, and food industries. The value of one of these agreements is estimated at over $1 billion.
Mohammad Ali Dehghan Dehnavi, Head of the Trade Promotion Organization of Iran, emphasized the importance of comprehensive cooperation and achieving valuable trade agreements to expand economic relations during the Iran-Kazakhstan business forum. He noted that the President’s visit to Kazakhstan reflected the two countries’ commitment to expanding cooperation across all sectors, and expressed optimism that companies and trade actors would reach significant agreements to enhance bilateral cooperation.
The Deputy Minister of Industry, Mines and Trade highlighted Iran’s significant industrial capabilities in petrochemicals, chemicals, agricultural machinery and equipment, mineral industries, creative and knowledge-based industries, nanotechnology, biotechnology, detergents, hygiene products, pharmaceuticals, medical equipment, construction materials, and food. He also mentioned Iran’s strengths in services such as technical and engineering services, IT, tourism, healthcare, and education.
The Head of the Trade Promotion Organization of Iran stated Iran’s willingness to meet its industrial and production needs based on Kazakhstan’s export capacities. He expressed confidence that the discussions at the event would strengthen economic, social, and cultural cooperation between the two countries.
