BAKU, Azerbaijan, May 23. Iran is interested in increasing trade and banking relations with Kazakhstan, Director General of the Central Bank of Iran (CBI), Ali Salehabadi said, Trend reports citing the bank’s website.
He made the remark during a meeting with Kazakh Deputy Prime Minister and Minister of Trade and Integration Bakhyt Sultanov in Tehran on May 23, 2022.
The director general noted that with the expansion of banking relations between the two countries, economic cooperation will increase and reach the required level.
During the meeting, Sultanov said that Kazakhstan is ready to develop economic relations with Iran. In recent months, several contracts have been signed between the two countries private sectors in various economic areas. Thus, over the past three months, the value of trade turnover between Iran and Kazakhstan increased by 50 percent to $200 million.
Sultanov also noted added that in 2021, the trade turnover between the two countries increased by 85 percent compared to 2020.
"Before the coronavirus pandemic, the value of trade turnover between Iran and Kazakhstan was more than $1 billion. Bringing trade to this level is on the agenda of the Kazakh government," the minister said.
The Kazakh official also pointed out that it is important to increase cooperation between the two countries in the fields of industry and manufacturing.
“According to the talks between the officials of the two countries, a joint chamber of commerce will soon be established between Iran and Kazakhstan, and direct flights will be carried out between different cities of Kazakhstan and Iran,” Sultanov noted.
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