ASTANA — Deputy Prime Minister of Kazakhstan, Serik Zhumangarin, reiterated an ambitious target set by the leaders of Kazakhstan and Iran of achieving a $3 billion bilateral trade turnover at the 19th meeting of the Intergovernmental Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation between Kazakhstan and Iran held in Tehran on Dec. 4, Prime Minister’s press service reported.
Zhumangarin announced that the first step towards achieving this goal would be signing an Action Plan outlining measures to support exporting enterprises.
“The first step towards fulfilling this order will be signing an Action Plan to bring mutual trade turnover to $3 billion. The document provides support for exporting enterprises in several areas: increasing the volume of mutual trade, lifting trade restrictions, introducing a bilateral clearing mechanism, and more,” he said.
During the commission meeting, both parties applauded the successful development of interstate relations across various sectors, including trade, agriculture, logistics, energy, healthcare, education, and tourism. The event, co-chaired by Zhumangarin and the Iranian Minister of Agriculture, Mohammad Ali Nikbakht, saw active participation from representatives of ministries and state enterprises from both countries.
Kazakh manufacturers have expressed readiness to supply Iranian consumers with 75 different product items worth $250 million. Zhumangarin commended the progress in negotiating a comprehensive Free Trade Agreement between the Eurasian Economic Union (EAEU) member states and Iran.
Iranian Minister of Agriculture Nikbakht revealed that Iranian enterprises are poised to deliver fish and dairy products, honey, fruits and vegetables, herbs, dried fruits, and other food products to Kazakhstan. The Iranian side also expressed interest in Kazakh investments and offered favorable conditions for doing business in Iran’s free economic zones.
Transport and logistics cooperation were also focal points of the Intergovernmental Commission discussions, emphasizing the development of international North-South transport corridors. The Caspian hub was identified as a potential key link in this strategic direction.
After the plenary meeting, Deputy Prime Minister Zhumangarin and Minister of Agriculture Nikbakht signed the 19th Joint Intergovernmental Commission Protocol and the Action Plan to reach the $3 billion trade turnover goal. Additionally, agreements were inked in agriculture and metrology, including a memorandum of cooperation in veterinary medicine and a memorandum of understanding in metrology.
During his visit to Tehran, Zhumangarin held meetings with Iranian business people in various sectors, fostering closer ties in agriculture, housing, communal services, investment, mining, metals, and industry and transport.