Kazakhstan and Iran to quadruple trade turnover

Kazakhstan and Iran have agreed to increase bilateral trade turnover
from $1.2 billion to $5 billion in the coming years. Such an agreement
was reached during a meeting between Kazakh President Nursultan
Nazarbayev and Iranian Foreign Minister Ali Akbar Salehi, Trend
reports.

However, according to the Iranian minister it is necessary to simplify
customs and banking procedures to ensure that growth.

The increase in turnover is planned to be achieved through expansion
of cooperation in industry and mining. In particular, the Iranian
Sadid industrial group had indicated its willingness to invest in the
construction of a hydropower station and oil and gas projects through
joint ventures.