Iran, Kazakhstan Sign 5 Cooperation Documents

Iranian Agricultural Jihad Minister Javad Sadatinejad and Minister of Trade and Integration of Kazakhstan Bakhyt Sultanov signed a MoU of economic, commercial, scientific, technical and cultural cooperation, as well as three documents in the field of standards and one customs document. During the final meeting of the 17th session of the Joint Commission on Economic Cooperation between Iran and Kazakhstan, the two sides agreed to use the national currencies to settle trade accounts in order to facilitate the exchange of goods. Addressing the event, Sadatinejad stressed that the two countries have a strong determination to develop trade and economic cooperation. He expressed hope that this cooperation will increase trade between the two countries to US$3 billion by the next three years.

He added that the two ministers will try to develop trade relations, with a view to facilitating banking ties, eliminating bureaucracy in customs and tariff fields. He termed the 17th meeting of the Joint Commission for Economic, Trade, Scientific, Technical and Cultural Cooperation between Iran and Kazakhstan as a turning point in opening new horizons in economic cooperation. The Iranian and Kazakh customs chiefs, in a cordial atmosphere and by using the opportunity of holding this event, have finalized the document of customs cooperation, he added.

Iranian investors are also ready to invest in Kazakhstan. I believe that we can have sustainable and common food security between the two countries, he noted. Meanwhile, Sultanov said trade rates had risen 56% during the years before the Coronavirus pandemic. He described Iran as a major trading partner for Kazakhstan, saying: "There are 60 products worth US$162 billion in Kazakhstan that can be exported to Iran. - IranGov.ir