News ID: 139473
Published: 0216 GMT April 13, 2016

Iran-Kazakhstan trade to touch fresh high of $1b

Iran-Kazakhstan trade to touch fresh high of $1b

Deputy Minister of Industry said Iran and Kazakhstan are in talks on increasing economic cooperation and raising bilateral trade to $1billion.

Valiollah Afkhami-Rad said six large Iranian industrial holdings held direct talks with Kazakh President Nursultan Nazarbayev and the country’s economic ministers on Tuesday on participating in the Kazakh market, IRNA reported.

"After the two sides discussed Iran's capacities, President Nazarbayev said there are ample opportunities for cooperation between the two countries and invited Iranian companies to begin operations in Kazakhstan on offshore food production, exploring iron ore and chromite mines, as well as mineral processing," Afkhami-Rad said.

He added that Iranian companies could also participate in Kazakhstan's infrastructure projects and provide technical and engineering services.

Problems relating to visa issuance were also raised during the meeting and the Kazakh president vowed to settle the issues in the near future, he said.

Afkhami-Rad further noted that this was the first time a country's highest ranking official sat with representatives of major Iranian companies and economic figures, listened to their concerns and suggestions, and called on his colleagues to have closer cooperation with the Iranian side.

Kazakhstan President Nursultan Nazarbayev arrived in Tehran on Monday to discuss ways to improve mutual relations as well as the latest regional and international developments. During his stay, the two sides signed nine MoUs on extradition, plant quarantine and protection, technological cooperation, transportation and transit in the Silk Road and investment.

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