Kazakhstan, Russia, Iran ink memo on wheat trade coop

MOSCOW. KAZINFORM - Agriculture authorities of Kazakhstan, Russia and Iran inked a Memorandum of Mutual Understanding on cooperation in wheat trade, Kazinform reports.

The memorandum was signed by Kazakhstan's Deputy Minister of Agriculture Gulmira Issayeva, Russia's Deputy Minister of Agriculture Sergey Levin and Iran's Deputy Minister of Agriculture Jihad Ali-Akbar Mehrfard. Attending the signing ceremony was Minister of Trade of the Eurasian Economic Commission Veronika Nikishina.

According to Deputy Minister Issayeva, the memorandum is an integral part of the Free Trade Zone Agreement signed between the EAEU member states and Iran last year.

"Volume of Kazakhstani wheat supply may reach 500,000-1 million tons per year. Last year was successful in that respect for Kazakhstan. The country exported 11.7 million tons of grain in 2018. Kazakhstan is planning to expand trading area. That is why we are immensely interested in Iran's market," she added.