Kazakh-Iranian Economic Relations Reach a New Level
In Astana, at the AIFC site, the Kazakh-Iranian investment round table was held, organized by the Ministry of Foreign Affairs of the Republic of Kazakhstan and "NC "KAZAKH INVEST" JSC with the support of the Embassy of the Islamic Republic of Iran in Kazakhstan. The purpose of the event is to deepen investment and trade relations between the countries.
The round table was attended by a delegation of the Iranian business community, representatives of government agencies, national development institutions, industry and regional business associations of the two countries. In total, over 80 participants attended the event.
The Islamic Republic of Iran is an important partner of Kazakhstan in the Middle East. There are a number of intergovernmental agreements between the countries aimed at deepening trade and economic cooperation, encouraging and mutual protection of investments.
The trade turnover between Kazakhstan and Iran for 2021 amounted to $440.1 million, for the first half of 2022 - $303.1 million. Since 2005, the volume of direct investments from Iran into the economy of Kazakhstan amounted to about $159 million, most of which was directed to the agricultural and industrial sectors of economy. Iranian businesspersons put into operation 4 projects, 9 projects worth $122.6 million are at the stage of development and implementation.
At the opening of the round table, the Ambassador of the Islamic Republic of Iran to Kazakhstan, Majid Samadzadeh Saber, spoke about the importance of relations between the countries and expressed the hope that this event would lead to the expansion of investment ties, as well as active participation in the implementation of new joint projects. In addition, the Ambassador called the round table a logical continuation of the active rapprochement between the two countries, which began after the mutual visits of the Heads of State of Kazakhstan and Iran.
In turn, the Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Ardak Zebeshev said that the strengthening of good neighborly relations would undoubtedly have a positive impact on the economic development of the two countries, given the large export potential and the launch of the Kazakhstan-Turkmenistan-Iran-Turkey railway linking the markets of Asia and Europe. He also noted that bilateral relations demonstrate high growth dynamics in all areas. Thus, in the first half of 2022, the volume of Iranian investments in Kazakhstan amounted to 16.5 million US dollars, which is 4.5 times more than the same period last year.
Deputy Chairman of the Management Board of "NC "KAZAKH INVEST" JSC Zhandos Temirgali in his speech spoke about the investment opportunities of Kazakhstan, measures of state support, as well as the activities of the national company. In addition, he noted that in June this year, together with the Iranian Chamber of Commerce and Industry, an investment forum was organized in Tehran, as a result of which 12 documents worth more than $230 million were signed. According to him, Kazakhstan is interested in diversifying transport and logistics routes connecting the country with world markets, including through the territory of Iran.
Also, within the framework of the round table, presentations were made by the Deputy President of the Iranian National Chamber of Commerce, Industry, Mines, Agriculture and General Director of Didas Company Mohammad Amirzadeh, Deputy General Director of QazTrade CRTP JSC Aibek Sagynayev, Managing Director of Baiterek NMH JSC Niyaz Koshkimbayev, Deputy General Director of Samruk-Kazyna Invest JSC Erbol Abdrazakov, Deputy Chairman of the Board of KIDF Yelzhas Otynshiev.
At the end of the event, bilateral meetings were held between representatives of the Kazakh side and their Iranian counterparts. During the meetings, new joint investment projects were discussed.
It should be noted that a Kazakh delegation headed by Deputy Prime Minister - Minister of Trade and Integration Serik Zhumangarin is currently on a working visit to the Islamic Republic of Iran, the main purpose of which is the development of trade, economic and transit-transport cooperation.
