TEHRAN- Iran and Kazakhstan aim to reach the bilateral trade of $3 billion by the next three years, an official with Iran’s Trade Promotion Organization (TPO) announced.

Rahmatollah Khormali, the director-general of the TPO’s office of Central Asia, Caucasus, and Russia, made the remarks referring to the recent trip of the president of Kazakhstan to Iran in which nine cooperation MOUs were signed by the two sides.

“According to the goal set by the officials of Iran-Kazakhstan Joint Economic Committee in late February, the value of trade between the two countries will increase to $3 billion in the next three years, and the export of technical and engineering services is seen in this goal. There is also scope for cooperation in the field of oil”, the official further stated.

Kazakhstan’s President Kassym-Jomart Tokayev met Iran’s President Ebrahim Raisi in Tehran on Sunday, and nine MOUs were signed in the presence of the two presidents to expand cooperation in different areas between the two countries.

Two MOUs were inked by Iran’s Ministry of Industry, Mining and Trade and Kazakhstan’s Ministry of Trade and Integration on boosting trade between the two countries, and on analytical studies and exchange of experiences between the two sides.

One MOU was signed by the two countries’ ministries of agriculture on agricultural cooperation.

Iran’s Ministry of Agriculture also signed another MOU with Kazakhstan’s Ministry of Agriculture and Ministry of Industry and Infrastructural Development on trade and transit of agricultural products.

An MOU was inked by National Iranian Oil Company (NIOC) and KazMunayGas, which is the state-owned oil and gas company of Kazakhstan.

Another MOU was inked by Islamic Republic of Iran Railways (known as RAI) and Kazakhstan Temir Zholy (KTZ), which is the country’s national railway company.

MA/MA