May 24, 2021, 12:56 PM
Journalist ID: 2379
News Code: 84341138
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$5b capacity exists in Iran's trade ties with Kazakhstan

Tehran, May 24, IRNA – Head of Iran-Kazakhstan joint chamber of commerce believes that there is a capacity for Tehran to increase trade ties with Nur-Sultan to five billion dollars.

Free trade agreement with Eurasian Economic Union (EAEU) has created many opportunities for Iran’s economy, Amir Abedi told IRNA on Monday.

The EAEU with its five members - Russia, Belarus, Kyrgyzstan, Armenia and Kazakhstan - started taking economic policies on free trade agreements with other states as of 2015.

As Abedi said, Iran’s geopolitical position has provided good capacity for fostering foreign trade.

He described trade agreement with EAEU as the best customs agreement which has also been approved by Majlis (Iran’s Parliament) and government.

Referring to Kazakhstan as the second biggest market of EAEU, the official said Nur-Sultan has a special place in historical and cultural relations with Tehran, the relations which can be extended to more economic fields as well.

At his remarks, Abedi pointed to facilitation of issuing visa between Iran and Kazakhstan as the way to have positive impact on trade.

Further, he described Kazakhstan as a safe partner for Iran as it is located on the Silk Road.

Abedi also said that exchanging delegations, signing agreements, and holding joint exhibitions are planned by Iran-Kazakhstan joint chamber of commerce.

According to reports, Iran’s trade ties with the five members of the EAEU has been near 3.5 billion dollars during the past Iranian calendar year (ending on March 20).

In late 2020, Iranian President Hassan Rouhani said that the country gives priority to strengthening relations with China, neighbors, and EAEU member states in all areas, including energy and technology.  

Experts believe that all-out cooperation with EAEU will provide considerable opportunities for Iran to enhance regional trade and increase its non-oil exports.

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