Iran and Kazakhstan agree to boost joint industrial projects

Iranian Minister of Industry, Mine and Trade Seyyed Mohammad Atabak and Kazakh Minister of Industry and Construction Qanat Sharlapaev held a meeting to discuss bilateral cooperation in industrial projects. The two sides agreed to put in place bilateral memorandums of understanding (MoUs) between responsible agencies to provide a framework for cooperation and accelerate defined projects, according to Iran's industry ministry.

The ministers also agreed to create mechanisms facilitating the issuance of bank guarantees to secure joint project implementation and support active companies in relevant sectors. This step addresses a key financial challenge often faced by contractors and industrialists in cross-border projects.

Sharlapaev welcomed the proposals and voiced Kazakhstan's readiness to provide legal and executive frameworks for a more active presence of Iranian companies in Kazakh industrial projects. The meeting was described as an important step in strengthening economic relations in the Eurasian region.

The meeting concluded with an emphasis on continued expert consultations to finalize the MoUs. According to Mehr News Agency, the discussions aim to enhance economic ties between the two countries.