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Participation in the Kazakh-Russian business forum

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During the Forum, which has been attended by more than 1,300 representatives of government agencies, quasi-public sector and business communities of Kazakhstan and Russia, the ways of bilateral cooperation widening in investment, trade and economic sphere were discussed.

In his speech, the President of Kazakhstan noted that the Russian Federation is a strategic partner and a key trade and economic partner of our country.

– We are putting to effect mutually beneficial business cooperation on a wide range of areas, and the Regional Forum contributes to that. Mutual trade volume in the first half of the current year amounts to nearly $ 6 billion. In a similar vein, there is a decrease of that index by 30% in comparison with the pre-crisis period. That dynamics is largely associated with a number of global external circumstances, Nursultan Nazarbayev said.

In that regard, the Head of State stressed the need to give new impetus to the development of bilateral economic cooperation.

– There are more than 6 thousand joint ventures with Russian companies. A large number of bilateral investment projects are being implemented, in the petrochemical, mining and metal sector in particular. At the moment we have more than 60 projects worth $ 20 billion, the advancement of which will be supported, the President of Kazakhstan said.

In addition, Nursultan Nazarbayev highlighted the considerable potential for cooperation expansion.

– We are working within the framework of the Eurasian Economic Union. The agreement on active trading with Vietnam has been reached, and similar talks with China, South Korea and Singapore are in progress. India, Egypt, Iran, the ASEAN countries and others are intending to develop cooperation with EurAsEC. We are intentionally modelling the joint rules of game clear to all producers and investors. The Russian business, investing in the economy of Kazakhstan, will be in almost ‘home-based’ conditions. Mutual interest of our countries centers around creating powerful logistics and transport infrastructure between Europe and Asia, the Head of State said.

The President of Kazakhstan turned attention to the efforts of the country for investment environment betterment and diversification of the economy.

In addition to the above, Nursultan Nazarbayev told about the measures undertaken by the government in the field of modernization of the economy, which include those focused on liberalization of the tax regime, implementation of the next phase of the large-scale privatization and creation of two innovative clusters in Astana and Almaty.

Along with that, the President reminded of the forthcoming opening of ‘Astana’ international financial center and holding of ‘EXPO-2017: Future Energy’ international trade show.

In conclusion, the President of Kazakhstan has expressed confidence in the efficient implementation of the debated initiatives and wished success to the participants.

Source: President of the Republic of Kazakhstan

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