Kazakh-Russian trade turnover hits $24.2bn
Among those present were Deputy Prime Minister - Trade and Integration Minister Bakhyt Sultanov, Deputy Chairman of the Russian Government Alexei Overchuk, Ambassador of Russia to Kazakhstan Alexei Borodavkin, recor of the Gumilyev Eurasian National University Yerlan Sydykov, and others.
Bilateral and multilateral cooperation between Kazakhstan and Russia strengthens steadily, with cooperation within the EAEU occupying a traditionally s pecial place.
According to the Deputy Prime Minister - Trade and Integration Minister Bakhyt Sultanov, in 2021, the trade turnover between Kazakhstan and Russia was up 29% and reached $24.2bln.
«Despite the post-pandemic period, the trade between our countries reached its peak. As of today, Russia's companies are among the top 5 key investors in terms of investment in the Kazakh economy ($16.5bn). In general, thanks to cooperation with Russian partners 13 significant projects have been carried out in Kazakhstan. 20 more major projects worth $4bn in a number of key sectors are either being carried out or under development,» said Sultanov.
Since the EAEU's inception, Kazakhstan has significantly increased its exports to third-country markets and markets of the EAEU member states with high and middle value-added. For instance, Kazakh processed product exports to the EAEU have increased by 64.3% since the Union was established. In general, Kazakh exports to the EAEU countries rose by 55.1%.
The current year marks 30 years since the establishment of diplomatic relations between Kazakhstan and Russia.