Iran to invest $6 bn in Kazakhstan

Jul 27, 2015 12:00 AM

Iran announced that it will invest $6 billion in Kazakhstan at the latest Kazakh-Iranian forum held in Almaty on July 22-24.

The Islamic Republic also plans to establish a center for the exchange of technologies in Kazakhstan's special economic zone, the "Park of innovative technologies," where it will present the country's latest achievements in the mining and oil and gas industries, and the agriculture and healthcare sectors.

"Your country has great economic prospects. And we would like to join our efforts for dynamic development in the field of innovative technologies. This forum should be a first step in this work," Iranian Deputy Minister of Science, Research, and Technology Vahid Ahmadi said.

Kazakhstan and Iran cooperate fruitfully in international and regional organizations, including the Conference on Interaction and Confidence-Building Measures in Asia, the Organization of Islamic Cooperation, and the Shanghai Cooperation Organization.

The volume of trade turnover in 2014 amounted to $1 billion, 1.6 times more than in 2013.

The business community of Iran is interested in the Kazakh market. The two countries plan to sign agreements on the establishment of 50 oil and gas projects worth $185 billion by 2020.

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