The trade turnover between Kazakhstan and Iran amounted to $650 million in 2015

Astana. February 12. Silkroadnews – In 2015 commodity turnover between Kazakhstan and Iran totaled to $650 million, the Deputy Chairman of the Board of JSC “KAZNEX INVEST” Meyerzhan Maykenov reported.
“Iran is an important strategic partner of Kazakhstan. At the end of 2015 the trade turnover between Kazakhstan and Iran amounted to about $650 million, including $570 million of export of Kazakhstan,” - said M. Maykenov at the briefing.
He also clarified the structure of exports.
“If you look at the structure of exports, 75% of exports are the processed goods, such as rolling (pipes - Silkroadnews), fertilizer, while 25% are the cereals, such as wheat and barley. In fact, sanctions valid for Iran for quite a long period of time and restrictions for doing business in general explain a situation under which the nomenclature of Kazakhstan’s exports is not that high,” - said the deputy chairman.
Yet, he said, today the “conditions got changed”.
“The lifting of sanctions against Iran, in particular, lifting of sanctions for the banking sector gives us great opportunities, simplifies the trade, it becomes possible to carry out the foreign exchange transactions easily. And taking advantage of this opportunity the Kazakhstani businessmen and potential vendors responded quite promptly, as noted by the Iranian side, the Kazakhstani delegation is one of the first that came to Iran to negotiate,” - M. Maykenov summarized.