News ID: 201547
Published: 1211 GMT October 01, 2017

Iran, Kazakhstan trade stable

Iran, Kazakhstan trade stable

Iran-Kazakhstan economic ties are of regional importance, with promising areas of growth. In recent years, trade turnover between the two countries was changing, going up and down, but now it seems to have reached a stable level.

Trade turnover between Iran and Kazakhstan was declining from 2014 to 2016. Relatively good result amounting to $986.345 million in 2014 decreased to $635.567 million in 2015 and $596.242 million in 2016, according to the Committee of Statistics of Kazakhstan, reported Trend News Agency.

Currently, economic cooperation remains close to that of the previous year with $273 891 million, during the first half of 2017. Exports from Kazakhstan to Iran constitute a large share in general trade between the two countries.

Kazakhstan's export to Iran amounted to $892.503 million in 2014, $565.791 million in 2015 and $550.518 million in 2016. In the first half of 2017, exports amounted to $239.756 and it is expected to reach the level of the previous year.

Earlier, Kazakh President Nursultan Nazarbayev and Iranian economic officials in a meeting in April 2017 declared the two countries' decision to increase trade turnover to $1 billion per year.

President Nazarbayev called on Iranian companies to cooperate in his country's agricultural and mining sectors while pledging to ease visa requirements for Iranian traders.

However, the only positive indication at present is the stability of Iran-Kazakhstan economic relations, and plans on further development seem to be in the implementation process.

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