News ID: 264463
Published: 0359 GMT January 17, 2020

Kazakhstan overseeing implementation of joint projects with Iran

Kazakhstan overseeing implementation of joint projects with Iran

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

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.

“Regarding investment relations between the countries, Iran is among the main investors in Kazakhstan. In the period from 2005 to 2018, gross inflow of foreign direct investments by Iran in Kazakhstan’s economy amounted to $123 million,” the official said.

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

“Kazakhstan exports 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, and mineral resources,” the official said.

He noted that the decrease of exports to Iran can be explained by a decrease of exports in the following goods: Flat unalloyed steel, wheat, and rapeseed.

“At the same time, an increase in exports of fresh and frozen beef, rapeseed oil, sheep, ferrous metal waste and scrap is also observed,” the official said.

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

“A decrease in imports can be explained by a decrease in nuts, fresh apples, equipment for food and beverage manufacturing, as well as processed stone,” the official said.

At the same time, an increase in the imports of cement, onions, garlic, and carpets is observed.


 

   
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