Niloofar Assadi, the caretaker of international affairs of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) says that Iran and Pakistan have to devise new mechanisms to give a boost to their bilateral relations.

Assadi made the remarks addressing a major business forum of Iran and Pakistan in Tehran on Wednesday.

The forum was participated by more than 100 Pakistani businesspeople from Karachi, Lahore and Quetta.

Assadi said that the economic ties between the two countries is not satisfactory, urging the need for both nations to devise new mechanisms to enhance relations.    

Referring to major strong links between the private sectors of the two neighboring countries, she stressed the necessity of planning for making joint investment and production and more increased relations in the area of tourism, health tourism in particular.

Assadi also called for reviving a preferential trade agreement with Pakistan, more cooperation on textile and overseas farming, and focusing on facilitating barter trade between the two nations.  

Speaking in the meantime, Abdolhakim Rigi, the head of Iran-Pakistan Joint Chamber of Commerce said that volume of trade between the two nations has grown to $2.5 billion.

He said that bilateral trade between Tehran and Islamabad can double to $5 billion which would require both countries to prepare the necessary grounds, including implementation of preferential trade, lifting the customs bans and making a better use of border markets.

He called the complication of the barter trade a serious obstacle to trade between Iran and Pakistan, adding that the barter trade mechanism proposed by Zahedan Chamber of Commerce is so simple while the interference of the central banks of the two countries has complicated the issue.

President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei said that promotion of relations with Kyrgyzstan is a main agenda of Iran’s private sector.

Shafei made the remarks in an Iran-Kyrgyzstan Joint Business Forum in Tehran on Sunday which was also participated by his Kyrgyz counterpart Temir Sariyev and Kyrgyzstan’s Ambassador to Iran Tordogan Sedigov and a large number of businesspeople from both sides.  

Shafei, however, noted that poor transportation is hampering trade relations between the two countries.

Putting the volume of trade between Iran and Kyrgyzstan at $80 million, he said that the figure does not match the economic potentials of the two countries.

Shafei voiced the readiness of Iran Chamber of Commerce to take further steps to pave the way for more increased trade with Kyrgyzstan, urging the need for both sides to remove the obstacles on the way of trade cooperation.

Kyrgyz businesspeople eye joint investment projects with Iran

Also addressing the business forum, Head of the Kyrgyzstan Chamber of Commerce and Industry, Temir Sariyev, said that Iran has pushed its way out of the pressure of Western sanctions for developing trade ties with the world.

Sariyev said that Kyrgyzstani businesspeople intend to get a better knowledge of Iran’s trade opportunities to find new ways for enhancement of trade cooperation.  

Noting that representatives from over 40 Kyrgyz countries are present in the forum, he said that the Kyrgyz businesspersons hope to find Iranian partners in trade and joint investments.

Speaking in the meantime, Kyrgyzstan’s Ambassador to Iran Tordogan Sedigov said that businesspeople from his country seek to identify Iran’s trade potentials.

The ambassador said that holding this forum is the first step expressing hope that another such forum will be held in his country.  

He invited the Iranian companies to visit Kyrgyzstan and launch joint production lines in the country.

President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei underlined the necessity for Iran and Kyrgyzstan to remove obstacles on the way of transportation cooperation.

In a meeting in Tehran on Sunday with the Head of the Kyrgyzstan Chamber of Commerce and Industry, Temir Sariyev, Shafei expressed dissatisfaction with the volume of trade between Iran and Kyrgyzstan, noting that bilateral trade between the two countries accounts for an insignificant 1% of Kyrgyzstan’s foreign trade.

He said that the Iranian private sector actors are eager to do more trade with Kyrgyzstan and invest in the country.

Referring to a recent free trade agreement between Iran and the Eurasian Economic Union (EAEU), the Iran Chamber of Commerce president said that once the agreement comes into effect, it will enable Iran and Kyrgyzstan to develop more enhanced cooperation.

In addition to the Western sanctions on Tehran and the problems on the way of financial problems, poor transportation is another factor hindering trade between Tehran and Bishkek, Shafei said.   

He noted that China can gain access to the Sea of Oman and Persian Gulf through Iran and Kyrgyzstan, a transit route which will benefit the two countries.

The Kyrgyzstan Chamber of Commerce chief, who is in the Iranian capital to attend the Iran Expo 2023, said in the meeting that representatives from 42 Kyrgyz companies are accompanying him in his Tehran trip who are looking for Iranian investors and customers for their products in Iran.  

Sariyev noted that the sanctions have always been a source of concern but trade will also find its way.

The construction of a railway project joining China, Kyrgyzstan, Turkmenistan, Uzbekistan and Iran will be discussed in an upcoming meeting of the Shanghai Cooperation Organization (SCO), he said, adding that the railway will later join the countries to Turkey and Europe.

President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei proposed forming a joint committee with Kazakhstan to facilitate transit between the two countries.

Speaking during an Iran-Kazakhstan Joint Business Forum in Tehran on Tuesday, Shafei said that Kazakhstan is a top priority of the Iranian private sector for expansion of trade ties.

The forum was participated by a top-ranking Kazakhstani delegation led by the country’s Deputy Minister of Trade and Integration Kairat Torebayev.  

Shafei said that oil and gas, shipping in the Caspian Sea, petrochemicals, agriculture, mining, construction, human and animal medicine, as well as techno-engineering services are among the main areas for expansion of cooperation between the two countries.

He expressed dissatisfaction with an annual $300 million volume of trade between Iran and Kazakhstan which he said is not compatible with the existing potentials.

The Iran Chamber of Commerce president said that Kazakhstan’s presence in the Eurasian Economic Union (EAEU) and the Shanghai Cooperation Organization provides a chance for further enhancement of trade with Tehran.

Shafei also highlighted the significance of a strategically significant INSTC corridor passing through Iran, noting that the corridor links Kazakhstan and other Central Asian countries to the Persian Gulf and South East Asia.

“The activation of this corridor will greatly help the commercial development of the countries along the route.”

Kairat Torebayev, who headed the Kazakhstani delegation, also addressed the business forum and said that as much as 511 Iranian companies are active in Kazakhstan in different areas, including processing industries, construction, and techno-engineering.

He regretted that trade between Iran and Kazakhstan has witnessed a 43% fall in the early months of the current year (2023) which he said is mainly caused by Iran’s reluctance to buy wheat from Kazakhstan.

The official noted that the Kazakhstani companies are ready to export over 100 items worth $162 million to Iran.

Iranian exports to Turkey jumped by nearly a fourth in the year to late March, according to a senior official in the country’s Trade Promotion Organization (TPO).

TPO’s head of West Asia Office Farzad Piltan said on Monday that Iranian exports to Turkey had amounted to $7.45 billion in the calendar year to March 20, up 23% from the previous calendar year.

“That made Turkey the third largest buyer of Iranian exports,” said Piltan while citing annual trade figures from the Iranian customs office.

He said that main goods and commodities exported from Iran to Turkey over the past calendar year included natural gas, aluminum, urea, polyethylene and copper products.

On imports from Turkey, Piltan said that Iran had taken delivery of nearly $6 billion worth of goods from its northwestern neighbor in the year to March, up 15% from the year before.

He said Turkey was the third largest supplier of goods and commodities to Iran in the past calendar year.

Cooking oil, over-the-road tractors for semitrailers, animal feed corn, banana and transformers were the main goods imported from Turkey to Iran over the year to late March, said the official.

On May 26-28, Tashkent will host the first luxurious international jewellery, gems and equipment exhibition “Uzbek Jewellery Fair-2023”.

“Uzbek Jewellery Fair-2023” is the first and only specialized jewellery exhibition that takes place in Uzbekistan, focused on jewellery manufacturers, wholesalers and retailers, agents, distributors and so on.

The purpose of the international exhibition is to establish new intra-industry and international mutually beneficial relations, get acquainted with technological innovations and achievements of foreign companies, master the most popular trends in jewelry design, improve the quality and quantity of products.

Within the framework of the exhibition, an awards ceremony will be held by the Jewellery Industry Association of Uzbekistan to the winners of the Uzbek Jewellery Awards for their contribution to shaping the future of the country's jewellery industry.

Afghanistan is expected to form a joint chamber of commerce with Iran in the new fiscal year that started on March 21, according to Khanjan Alokozai, a board member of Afghanistan Chamber of Commerce and Industries (ACCI). 

"The executive board of ACCI decided to establish a joint chamber of commerce. A commission has been appointed and it is working on the draft. It is almost completed. We proposed a temporary board," Alokozai said. 

"With the launch of this chamber, trade and economic activities will increase. The traders from your country [Afghanistan] and our traders [Iran] will be engaged in face-to-face cooperation and it will increase the level of cooperation," said Taqwa Minsion, university instructor in Iran.

Afghanistan’s Ministry of Economy said the formation of the joint chamber of commerce will boost economic development.

"The formation of Iran-Afghanistan Joint Chamber of Commerce will benefit the growth of Afghanistan’s economy, and efforts will be made to improve the economic relations of Afghanistan with its neighbors," said Afghan Deputy Minister of Economy Abdul Latif Nazari.

Also, Hossein Salimi, the chairman of Iran-Afghanistan Joint Chamber of Commerce, said last June that a mirror chamber of commerce is due to open in Kabul soon and a branch of which will open in Herat simultaneously.

Afghanistan currently has joint chambers of commerce with Pakistan, Russia, Tajikistan and Uzbekistan.

A delegation of 70 Afghan businesspersons, one of the biggest private sector delegations to Iran from the neighboring country, arrived in Tehran in February when they held B2B meetings with their Iranian counterparts.

Afghanistan with 1.58 million tons worth $792 million of exports from Iran in the first half of the Iranian calendar year (March 21-Sept. 22) was the fourth destination for Iranian commodities among neighboring countries following Iraq, the UAE and Turkey.

Afghanistan is expected to form a joint chamber of commerce with Iran in the new fiscal year that started on March 21, according to Khanjan Alokozai, a board member of Afghanistan Chamber of Commerce and Industries (ACCI). 

"The executive board of ACCI decided to establish a joint chamber of commerce. A commission has been appointed and it is working on the draft. It is almost completed. We proposed a temporary board," Alokozai said. 

"With the launch of this chamber, trade and economic activities will increase. The traders from your country [Afghanistan] and our traders [Iran] will be engaged in face-to-face cooperation and it will increase the level of cooperation," said Taqwa Minsion, university instructor in Iran.

Afghanistan’s Ministry of Economy said the formation of the joint chamber of commerce will boost economic development.

"The formation of Iran-Afghanistan Joint Chamber of Commerce will benefit the growth of Afghanistan’s economy, and efforts will be made to improve the economic relations of Afghanistan with its neighbors," said Afghan Deputy Minister of Economy Abdul Latif Nazari.

Also, Hossein Salimi, the chairman of Iran-Afghanistan Joint Chamber of Commerce, said last June that a mirror chamber of commerce is due to open in Kabul soon and a branch of which will open in Herat simultaneously.

Afghanistan currently has joint chambers of commerce with Pakistan, Russia, Tajikistan and Uzbekistan.

A delegation of 70 Afghan businesspersons, one of the biggest private sector delegations to Iran from the neighboring country, arrived in Tehran in February when they held B2B meetings with their Iranian counterparts.

Afghanistan with 1.58 million tons worth $792 million of exports from Iran in the first half of the Iranian calendar year (March 21-Sept. 22) was the fourth destination for Iranian commodities among neighboring countries following Iraq, the UAE and Turkey.