Kazakhstan and Iran increase bilateral trade turnover
The Senate of the Kazakh Parliament adopted a document designed to increase trade with Iran. The temporary agreement on the formation of a free trade zone between the parties has been extended for another three years. Over the past period, mutual trade has shown a steady growth. In the first half of the year, the volume of exports from Kazakhstan to Iran increased by 12 percent compared to the same period in 2021, while trade grew by 18.5 percent. The two countries are now considering the elimination or reduction of customs duties.
“In addition to the reduction or elimination of duties, the temporary agreement fully covers such aspects as measures for the protection of domestic markets, sanitary and phytosanitary measures, as well as measures related to technical barriers to trade, determination of the origin of goods and customs cooperation,” Kazakh Vice Minister of Trade and Integration Kairat Torebayev noted.