Government • 09 August, 2018

Kazakh PM discusses prospects for expanding trade and economic cooperation with Ambassador of Iran

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August 9 in Ukimet Uyi the Prime Minister Bakytzhan Sagintayev met with Ambassador Extraordinary and Plenipotentiary of the Islamic Republic of Iran to the Republic of Kazakhstan, Mojtaba Damirchilu.

At the meeting, issues of further cooperation in trade and economic, investment, industrial and transit-transport spheres were discussed, as well as prospects for development of interaction in the areas of subsoil use and agriculture were considered.

Prime Minister Sagintayev said that recently Kazakh-Iranian cooperation demonstrates good dynamics, bilateral relations reached a new level of development. The visit of President Nursultan Nazarbayev to Tehran was of special importance in the expansion of cooperation between the two countries. To date, Kazakhstan is implementing projects involving Iranian investors.

In addition Sagintayev noted the importance of the forthcoming Summit of the Caspian States, which will be held on August 12, 2018, in Aktau. The issues of the legal status of the Caspian Sea, cooperation in the Caspian in the spheres of economy, transport, ecology, security, etc. will be discussed at the summit.

In his turn, Damirchilu noted that the Iranian leadership attaches great importance to cooperation with Kazakhstan, which today is the leading country in the Eurasian region.

"In recent years, a lot of work has been done, favorable conditions have been created for cooperation in the economic sphere. For half a year of 2018 we see very sharp progress in the trade turnover of our countries, which increased by 70%," the ambassador said.

Diplomatic relations between the Republic of Kazakhstan and the Islamic Republic of Iran were established on January 29, 1992. The legal framework for bilateral relations includes more than 60 agreements and documents.

The trade turnover between Kazakhstan and Iran in January-May 2018 amounted to $251.4 million, which is 41.7% higher than for the same period of the previous year ($177.4 million). Exports from Kazakhstan to Iran in January-May 2018 increased by 36.1% to $207.2 million.

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