Kazakhstan Attracts $300b Investment in 20 Years
IRAN NEWS ECONOMIC DESK
TEHRAN –Kazakhstan Ambassador to Tehran Mr. Askhat Orazvy during his recent visit to Qazvin Province said that his country has attracted over $300b investment in 20 years and 70 percent accounts for foreign investment.
Mr. Orazbay also had welcomed any economic cooperation with Iranian businessmen especially from Qazvin Province.
In our Sunday edition the figure of the investment had been mis-reported as $30b and the error is regretted.
Orazbay also called for more interactions and cooperation between Kazakhstan and Qazvin Province as he considers Qazvin as one of the most advanced Iranian provinces in terms of economic capacity.
Meanwhile Trend news website yesterday quoted a representative of Kazakhstan Ministry of Trade and Integration as saying that a number of Kazakh-Iranian joint projects in Kazakhstan are currently at the various stages of implementation, the majority of them accounting for agriculture.
According to the official, Kazakhstan and Iran have time after time confirmed their interest in development of mutual trade relations. Parties are also successfully cooperating within the framework of various international and regional organizations.
“Talking the investment relations between the countries, Iran is among the main investors of Kazakhstan. Over the period from 2005 to 2018, gross inflow of direct foreign investments from Iran to Kazakhstan’s economy amounted to $123 million,” the official said.
Trade turnover between countries amounted to $333.8 million during 11 months of 2019, which is 28.8 percent less than during the same period of 2018 ($468.9 million).
“Kazakhstan export to Iran during the reporting period decreased by 31.8 percent and equaled $263 million. The main goods exported from Kazakhstan to Iran are agricultural goods of vegetable and animal nature, mineral resources,” the official said.
He also noted that the decrease of export to Iran can be explained by export decrease of the following goods: flat unalloyed steel, wheat, and rapeseeds.
“At the same time, the export increase of fresh, frozen beef, rapeseed oil, sheep, ferrous metal waste and scrap is also observed,” the official said.
Kazakhstan’s import from Iran amounted to $70.8 million during 11 months of 2019, which is 15.1 percent less than during the same period of last year. The main goods imported from Iran to Kazakhstan are mineral resources and fruit.