The 19th meeting of the Intergovernmental Commission on Trade, Economic, Scientific, Technical, and Cultural Cooperation between Kazakhstan and Iran concluded in Tehran with a shared commitment to elevate bilateral trade turnover to $3bn, the official information source of the Prime Minister of the Republic of Kazakhstan reported. The event, co-chaired by Deputy Prime Minister of the Republic of Kazakhstan, Serik Zhumangarin, and Iran's Minister of Agriculture, Mohammad Ali Nikbakht, saw the participation of representatives from both nations' ministries and state enterprises.
The commission acknowledged the successful development of bilateral relations, spanning trade, agriculture, logistics, energy, healthcare, education, tourism, and other sectors. Zhumangarin emphasized the importance of reaching the $3bn trade goal set by the heads of states and revealed plans for an Action Plan aimed at achieving this ambitious target.
"The first step towards fulfilling this order will be the signing of an Action Plan to bring mutual trade turnover to $3bn. The document provides for support for exporting enterprises in several areas: increasing the volume of mutual trade, lifting trade restrictions, introducing a bilateral clearing mechanism and more," stated Zhumangarin.
Kazakh companies expressed keen interest in establishing consistent exports of non-commodity goods to the Iranian market, with plans to supply 75 different product items totaling around $250mn.
During the meeting, progress in negotiating a comprehensive Free Trade Agreement between the Eurasian Economic Union (EAEU) member states and Iran was positively assessed. Iranian Minister of Agriculture, Mohammad Ali Nikbakht, highlighted the potential for Iranian enterprises to supply fish and dairy products, honey, fruits and vegetables, herbs, dried fruits, and other food products to Kazakhstan.
The Iranian delegation also demonstrated a keen interest in potential Kazakh investments, affirming their eagerness to facilitate business activities within the designated free economic zones of Iran.
During the discussions within the Intergovernmental Commission, there was a comprehensive dialogue on the augmentation of collaborative efforts in the realm of transportation and logistics. Notably, the exploration of opportunities for advancing international North-South transport corridors took center stage. In this context, the Caspian hub emerged as a pivotal nexus poised to play a crucial role in fostering these connections.
Furthermore, Zhumangarin and Nikbakht signed the Protocol of the 19th Joint Intergovernmental Commission and the Action Plan, solidifying their commitment to reaching the $3bn trade turnover goal. Additionally, several agreements were inked in the fields of agriculture and metrology, demonstrating a multifaceted approach to enhancing cooperation.
These agreements include a Memorandum of Cooperation in the field of veterinary medicine between the Ministries of Agriculture of Kazakhstan and Iran and a Memorandum of Understanding in the field of metrology between the Kazakhstan Institute of Standardization and Metrology and the National Metrology Center of the Iranian National Organization for Standardization.
During his visit to Tehran, Deputy Prime Minister Zhumangarin engaged with leading Iranian businessmen in agriculture, housing and communal services, investment, mining and metals industry, industry, and transport, exploring opportunities for collaboration and reinforcing the growing economic ties between Kazakhstan and Iran.
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