Skip to Content

Thursday, November 15th, 2018

Prime Ministers of Kazakhstan and Russia discuss expansion of trade, economic and investment cooperation

by November 1, 2018 General

At the meeting, a wide range of issues of bilateral and multilateral relations was discussed to further deepen and expand trade, economic, investment, integration interaction. The current and future projects in the field of fuel and energy, transport and transit complexes, cooperation in the field of high technologies, as well as issues of the Baikonur cosmodrome were considered.

Bakytzhan Sagintayev noted that Kazakhstan and Russia always maintain a high level of interaction. In this respect, the relations of the Heads of the two states is a good example. They are in close contact and are in constant dialogue on current issues of bilateral and multilateral cooperation.

The format of the official visit gives us the opportunity to thoroughly discuss a wide range of bilateral cooperation issues. I am sure that the results of our meeting will give additional dynamics to Kazakh-Russian cooperation, help solve those issues that require our progress and determine future plans for the medium term, said Bakytzhan Sagintayev.

Medvedev, in turn, thanked for the invitation and said that bilateral relations between Kazakhstan and Russia are at a very high level.

Just now, talking with the President of the country Nursultan Abishevich Nazarbayev, we said that we can talk about our relations for a long time, but we can say very briefly: they are at a very high level, we are strategic partners. At the same time, our countries face enormous large-scale tasks … It is very important that we are in constant contact, said Medvedev.

During the conversation, the parties noted the increase in trade turnover between Kazakhstan and Russia. This testifies to the results of bilateral cooperation: both countries develop their economies and create additional opportunities for the safe life of citizens of the two countries. At the same time, prospects for a further increase in the volume of trade were considered. In this direction, active work within the framework of the Intergovernmental Commission on Cooperation has been marked.

One of the most important areas of bilateral cooperation is the transport and transit sphere, which can become one of the most powerful drivers of the economies of the two countries. Here, according to the participants of the meeting, it is necessary to create a modern, reliable, stable, economically viable transport corridor for external partners. A pressing issue today is the creation of a high-speed freight and passenger transit corridor “Eurasia” in the direction of China – Kazakhstan – Europe.

The construction of new transport corridors will create conditions for economic growth, will open up additional opportunities for the regions, increase their investment attractiveness, and will contribute to enhancing cooperation between the two countries.

Special attention during the meeting was paid to the issues of cooperation within the Astana International Financial Center, where unprecedented conditions were provided for investors who have no analogues in the post-Soviet space. Sagintayev also drew attention to the privatization program carried out in Kazakhstan and encouraged Russian investors to actively participate in it.

Among the priorities of the strategic partnership of the two countries is cooperation in the field of space activities. The implementation of further cooperation concept and the long-term development program of the city of Baikonur were touched upon. As noted, on the basis of bilateral agreements, the parties began to modernize the infrastructure of the city.

The heads of government paid a lot of attention to the issues of holding the XV Forum of Interregional Cooperation of Kazakhstan and Russia in Petropavlovsk. The theme will be “New approaches and trends in the development of tourism.”

The trade turnover between Kazakhstan and Russia in January-August 2018 amounted to $11.3 billion, which is 8.3% higher than the same period of the previous year ($10.4 billion). In January-August 2018, exports from Kazakhstan to Russia grew by 13.3% and amounted to $3.4 billion. Over the past 13 years (from 2005 to 2nd quarter of 2018), the gross inflow of direct investment from the Russian Federation to the Republic of Kazakhstan amounted to $13.4 billion, gross Kazakhstani direct investment in the Russian Federation amounted to about $4 billion.

In Kazakhstan, there are more than 9 thousand active legal entities with Russian participation. Currently, joint work is being carried out with the Russian side on a number of investment projects worth about $4 billion in the chemical and petrochemical industry, agriculture, engineering, metallurgy, tourism and light industry.

Source: The Prime Minister of Kazakhstan