Kazakhstan overseeing implementation of various joint projects with Iran

By Trend

A number of Kazakh-Iranian joint projects in Kazakhstan are currently at the various stages of implementation, the majority of them accounting for agriculture, a representative of Kazakhstan’s Ministry of Trade and Integration told Trend.

According to the official, Kazakhstan and Iran have time after time confirmed their interest in development of mutual trade relations. Parties are also successfully cooperating within the framework of various international and regional organizations.

"Talking the investment relations between the countries, Iran is among the main investors of Kazakhstan. Over the period from 2005 to 2018, gross inflow of direct foreign investments from Iran to Kazakhstan’s economy amounted to $123 million," the official said.

Trade turnover between countries amounted to $333.8 million during 11 months of 2019, which is 28.8 percent less than during the same period of 2018 ($468.9 million).

"Kazakhstan export to Iran during the reporting period decreased by 31.8 percent and equaled $263 million. The main goods exported from Kazakhstan to Iran are agricultural goods of vegetable and animal nature, mineral resources," the official said.

He also noted that the decrease of export to Iran can be explained by export decrease of the following goods: flat unalloyed steel, wheat, and rapeseeds.

"At the same time, the export increase of fresh, frozen beef, rapeseed oil, sheep, ferrous metal waste and scrap is also observed," the official said.

Kazakhstan’s import from Iran amounted to $70.8 million during 11 months of 2019, which is 15.1 percent less than during the same period of last year. The main goods imported from Iran to Kazakhstan are mineral resources and fruit.

"Decrease of import can be explained by import decrease of nuts, fresh apples, equipment for food items and beverages manufacturing, as well as processed stone," the official said.

At the same time, import increase of cement, onions, garlic, carpets is also observed.