Kazakhstan and Iran eye $3 billion trade target

Kazakhstan's FM visited Iran, meeting his counterpart to forge deeper ties. Discussions focused on boosting trade, developing the Caspian region, and enhancing overall cooperation, aiming for a new era of partnership.

In a significant diplomatic push, Murat Nurtleu, the Deputy Prime Minister – Minister of Foreign Affairs of the Republic of Kazakhstan, recently concluded an official visit to Iran, holding extensive negotiations with his Iranian counterpart, Seyed Abbas Araghchi. The visit underscored a mutual commitment to strengthening bilateral ties across various sectors, with a strong emphasis on economic and regional cooperation.

The core of the discussions revolved around the current state and future prospects of interaction between the two nations, coupled with an exchange of views on pressing international and regional challenges. A particular focus was placed on elevating the trade and economic partnership to a qualitatively new level. Minister Nurtleu highlighted the ambitious targets set for bilateral trade, stating, "We intend to further expand the dynamic and constructive dialogue between our two countries. In 2024, bilateral trade increased by 12.3% and amounted to over 340 million US dollars, while in the first quarter of 2025, this figure rose by 82% to 129 million US dollars. Our goal is to maintain this momentum and increase trade turnover to 3 billion US dollars." This significant growth in trade figures signals a robust foundation for future economic collaboration.

Beyond trade, the foreign ministers of Kazakhstan and Iran underscored the critical importance of coordinating joint efforts in the development of the Caspian region. They also emphasised the need to bolster cooperation between Kazakhstan’s border regions and Iranian provinces, along with leveraging the strategic potential of Caspian Sea ports as a pivotal element of transport and logistics collaboration between the two countries. Both parties lauded their existing cooperation within international platforms and agreed to continue joint endeavours in these areas, signifying a shared vision for global and regional stability.

The culmination of the negotiations saw the ministries of foreign affairs of Kazakhstan and Iran formalise their commitment by signing a Cooperation Program and a Memorandum of Understanding on Diplomatic Archives. These agreements lay the groundwork for structured future collaboration.

Minister Nurtleu's visit also included key separate meetings. He met with Ali Akbar Velayati, Advisor to the Supreme Leader of Iran on International Affairs. Their discussions delved into ways to deepen bilateral cooperation across political, economic, and cultural spheres. Special attention was paid to collaboration within regional and international organisations, along with ensuring stability and security in the region. A meeting was also held with Mohammad Sadegh Kaveh, Chairman of the Board of Directors of the Iranian company "Kaveh." This discussion focused on expanding trade and economic cooperation, including the implementation of joint investment projects in industry and logistics. The importance of increasing trade turnover and effectively utilising the transit potential of both countries within the framework of international transport corridors was a key takeaway.

The visit of Kazakhstan's top diplomat to Iran marks a significant step forward in solidifying the strategic partnership between the two nations. With clear goals for economic growth, enhanced regional cooperation, and reinforced diplomatic ties, Kazakhstan and Iran appear poised for a new era of mutually beneficial collaboration.

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