Iran’s Industry Minister Reza Fatemi-Amin highlighted the importance of financial transactions in foreign trade, and described joint investments as a strategic way to deepen economic relations between the two countries.
"The most important issue that exists and needs to be resolved is the issue of financial transactions… There are several mechanisms for financial transfer that we are examining, and if this issue is resolved, we will witness a huge leap in the field of bilateral commercial activities," said the Iranian minister of trade.
He underscored Kazakhstan's capabilities in mining, home appliances, medical equipment and medicine, and welcomed cooperation between the two states in these fields.
Heading a delegation, Deputy Prime Minister and Minister of Trade and Integration of Kazakhstan, Bakhyt Sultanov is in Iran on an official visit to discuss expansion of bilateral trade with high-ranking Iranian officials.
Sultanov said Iran and Kazakhstan need to draft new forms of cooperation to enhance bilateral trade.
"Iran has good products in various fields, including agricultural machinery, chemical fertilizers and other industrial products. Iran has 120 years of experience in oil extraction and also enjoys good knowhow in various fields of technology," the Kazakh official said, calling for sharing of experience with Iran in oil and industry fields, as well free economic zones.
Sultanov said Kazakhstan will offer 72-hour visa free stay for Iranian business as the first step to pave the way for bilateral trade extension between Tehran and Nur-Sultan.
He expressed hope that Iran and Kazakhstan can set up a permanent chamber of commerce to boost bilateral trade.
Deputy prime minister and minister of trade and integration of Kazakhstan also emphasized that his country supports Iran’s membership in the Eurasian Economic Union (EAEU).
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