Kazakhstan aims to increase trade with Iran to $3 billion

By Al Mayadeen English
Source: Agencies
1 Feb 2025 11:02

In the first 11 months of 2024, trade between Iran and Kazakhstan surpassed $290 million, reflecting an 8.1% increase compared to the same period in 2023.

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The flag of Iran waves in front of the headquarters of IAEA in Vienna, on May 24, 2021. (AP)

Kazakhstan is exploring the possibility of increasing trade with Iran to $3 billion by offering more than 60 products valued at $162 million, according to the Kazakh Ministry of Trade and Integration.

Kazakh Trade and Integration Minister Arman Shakkaliyev met with Mohammad-Ali Dehghan Dehnavi, Deputy Minister of Industry, Mines, and Trade and head of Iran’s Trade Promotion Organization, in Almaty on Friday to discuss enhancing bilateral trade.

"We see great potential in increasing trade with Iran to $3 billion. We are ready to offer over 60 commodity items, including cereals, sunflower oil, meat products, and other goods worth $162 million for supplies to the Iranian market," Shakkaliyev stated, emphasizing that Iran is a key partner for Kazakhstan in the Middle East.

In the first 11 months of 2024, trade between the two nations surpassed $290 million, reflecting an 8.1% increase compared to the same period in 2023. Kazakh exports to Iran have seen a significant rise, growing by 29.1% to exceed $100 million, the ministry added.

Kazakhstan’s primary exports to Iran include cereals such as barley, wheat, and corn, along with rapeseed, sunflower oil, and meat products, including beef, mutton, and goat meat.