The Prime Minister of the Republic of Kazakhstan, Olzhas Bektanov, and the Chairman of the Government of the Russian Federation, Mikhail Mishustin, discussed plans to increase the trade turnover between the two countries to $30 billion. This agreement was previously reached by the President of Kazakhstan, Kassym-Jomart Tokayev, and the President of Russia, Vladimir Putin, according to primeminister.kz.
“Thanks to the joint efforts of the heads of state, Kassym-Jomart Tokayev and Vladimir Putin, our bilateral cooperation has been elevated to a qualitatively new level. A key task is to ensure the full practical implementation of the agreements reached at the highest level. The Government of Kazakhstan is ready to closely collaborate and develop comprehensive cooperation across all areas,” emphasized Olzhas Bektanov.
Russia is one of Kazakhstan's main trading partners. Over the course of 11 months last year, mutual trade between the countries reached $24.2 billion. To achieve a trade turnover of $30 billion, it is essential to expand the range of goods supplied. Positive results have been noted from the implementation of the Comprehensive Economic Cooperation Program for 2021-2025, and the feasibility of developing an updated program for the upcoming period has been highlighted.
The trade turnover of agricultural products for the first 10 months of 2024 increased by 5%, totaling over $3.2 billion.
In the field of industrial cooperation, 99 Kazakhstan-Russia projects worth $18.6 billion have been implemented to date. Prospects for the realization of new joint projects in Kazakhstan have been considered.
Transit transportation through Kazakhstan is developing at a rapid pace. In this regard, attention is being paid to the development of road and railway infrastructure, as well as the opening of new alternative routes in the maritime transport sector.
“Kazakhstan is our strategic partner and ally. Our relations are based on the principles of friendship, good neighborliness, mutual respect, and consideration of each other's interests. During Vladimir Putin's state visit to Kazakhstan, important agreements were reached on the further development of our relations. The task of the governments is to ensure the clear implementation of the agreements reached by our leaders,” noted Mikhail Mishustin.
Following the negotiations, the parties agreed to strengthen their strategic partnership and continue joint work across all areas.
In November 2024, President Kassym-Jomart Tokayev stated during talks with Vladimir Putin that in the next couple of years, the countries may surpass the $30 billion mark in mutual trade.
The heads of state adopted a Joint Statement on deepening strategic partnership in the context of a new global order and signed 19 documents during the meeting.
“To date, 93 projects have been jointly implemented with a total investment of $18.3 billion, resulting in the creation of over 22,000 new jobs in Kazakhstan. There are still 49 projects on the agenda with an investment volume of approximately $29.5 billion, with the potential to create over 20,000 jobs,” noted the President of Kazakhstan.