Kazakhstan intends to increase the export of its numerous products to Iran through Turkmenistan. The total amount of the exports can reach $162.3 million, Vice Minister of Trade and Integration of Kazakhstan Kairat Torebayev said during his two-day visit to Tehran.
Torebayev said the analysis revealed the potential for increasing exports of Kazakh products from the metallurgical industry, food, mechanical engineering, chemical and pharmaceutical industries to Iran, the press service of the Ministry of Trade and Integration of Kazakhstan said in its Monday press release.
He stated the growth of cooperation between the two countries is facilitated by the operation of the Kazakhstan-Turkmenistan-Iran (KTI) railway. The railway has the capacity for the transshipment of 10 million tons of cargo.
“Through this corridor, Iran has the opportunity to enter the Russian and Chinese markets, in turn, our country - to all the states of the Persian Gulf. This corridor has had a positive impact on bringing bilateral and regional trade-economic cooperation to a new level,” Torebayev said.
During the online meeting of the ECO Regional Planning Council at the end of July, Turkmenistan proposed to sign a Memorandum on the commercialization of the KTI railway corridor. the Turkmen side proposed to sign the document on January 28 next year in Ashgabat, on the ECO Day.