Iran, Kazakhstan reach agreement to boost industrial and mining cooperation

Pars Today – The Minister of Industry, Mine, and Trade of the Islamic Republic of Iran, in a meeting with the Minister of Industry and Construction of the Republic of Kazakhstan, while reviewing strategies for expanding economic ties, has emphasized the implementation of joint industrial projects aimed at increasing the trade volume between the two countries.

According to Pars Today, citing IRNA, Seyyed Mohammad Atabek, Iran's Minister of Industry and Mine, met with Kanat Sharlapayev, Kazakhstan's Minister of Industry and Construction. During the meeting, while stressing the development of relations, Atabek announced that it was decided to draft and sign bilateral memoranda of understanding between the responsible institutions of the two countries to structure cooperation and accelerate defined projects, thereby facilitating the execution of industrial plans.

A key focus of the discussion was resolving the financial challenges facing contractors and industrialists from both nations. In this regard, the two sides agreed to establish necessary mechanisms to facilitate the issuance of bank guarantees aimed at ensuring the implementation of joint projects and supporting companies active in these fields.

Kazakhstan's Minister of Industry and Construction, welcoming the proposed suggestions, emphasized his country's readiness to provide the legal and executive frameworks for more active participation of Iranian companies in Kazakhstan's industrial projects.