Kazakhstan and Iran Strengthen Economic Ties
Within the framework of enhancing economic relations and expanding trade and investment opportunities between Kazakhstan and Iran, the Kazakhstan-Iran Business Forum took place. The event, organized by the Ministry of Trade and Integration of the Republic of Kazakhstan, "QazTrade" JSC, with the support of "National Company "KAZAKH INVEST" JSC, attracted more than 100 participants.
The business forum served as a platform for discussing and exploring new promising directions of cooperation between Kazakhstan and Iran. The forum was attended by high-ranking government officials as well as representatives of the business communities of both countries.
During the forum, cooperation in areas such as energy, transportation, agriculture, tourism, chemical industry, and others were discussed. Forum participants exchanged experiences, presented investment opportunities, and discussed new ways to develop mutually beneficial cooperation.
The event was opened with welcoming speeches by Vice Minister of Trade and Integration of the Republic of Kazakhstan, Kairat Torebayev, and Deputy Minister of Agriculture of Iran in charge of trade and market regulation, Alireza Peymanpak. The speakers emphasized the importance of developing economic cooperation between Kazakhstan and Iran and the high potential for expanding trade and mutual investment, taking into account the convenient transport and logistics capabilities of the North-South corridor. This route connects India, Iran, the Gulf countries through the Caucasus and Kazakhstan to European countries.
In turn, Ardak Zebeshev, Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, highlighted the readiness of the Kazakh Government to create favorable conditions for Iranian businessmen and investors and to support initiatives aimed at strengthening mutually beneficial cooperation.
"The participation of Iranian companies in the implementation of projects on the territory of Kazakhstan, such as the construction of a meat processing plant by Empire Food LLP and an oilseed processing plant by Kaz-Ir Agro LLP, demonstrates successful cooperation between our countries. In 2022, the total volume of direct investments from Iran to Kazakhstan amounted to $32.4 million, which is 23.7% higher than the previous year. Considering the enormous potential for further development of relations, we invite Iranian businessmen to organize joint projects on the territory of Kazakhstan in key sectors of our economy," noted the Chairman of the Committee.
Ali Akbar Jokar, the Ambassador Extraordinary and Plenipotentiary of the Islamic Republic of Iran to the Republic of Kazakhstan, mentioned that the visits of the Heads of State to Iran in 2022 and the Prime Minister in 2023 have given a significant impetus to the development of bilateral relations. According to him, the introduction of a visa-free regime between the countries opens up opportunities for expanding economic relations and the tourism potential of both countries.
The forum also featured speeches by Vice Minister of Agriculture of the Republic of Kazakhstan, Erbol Taszhurekov, Deputy Minister and Chairman of the Board of the State Trading Company of Iran, Rad Saida, Vice Minister Industry and Infrastructural Development of the Republic of Kazakhstan, Dinara Shcheglova, and others.
The business forum concluded with bilateral meetings between representatives of the business circles of the two countries to discuss specific cooperation opportunities.
Kazakhstan and Iran expressed their readiness to continue dialogue and cooperation at various levels with the aim of achieving mutual interests and developing economic ties. Both sides called on business communities and investors to actively utilize the opportunities provided within the framework of cooperation between Kazakhstan and Iran and expressed confidence in the mutual benefits and long-term nature of such a partnership.
