ASTANA, November 11. /TASS/. Trade turnover between Russia and Kazakhstan is approaching $30 bln per year, and the two countries are actively expanding investment cooperation, with investments totaling over $50 bln, Kazakh President Kassym-Jomart Tokayev said in an article in Rossiyskaya Gazeta ahead of his state visit to Russia.
"The Russian Federation is one of our country's three largest foreign trade partners. In turn, Kazakhstan is among Russia's five main trading partners. Our trade turnover is growing steadily and is approaching the $30 bln mark," he said.
Russian investors are among leaders in investing in Kazakhstan, Tokayev noted. "More than 170 joint projects with investments totaling over $50 bln form the foundation of industrial cooperation between Kazakhstan and Russia. With the participation of a number of major Russian companies, such as Sibur, Gazprom, Lukoil, EuroChem, high-tech plants to produce polyethylene, butadiene, mineral fertilizers, and other in-demand high-tech products are being built in our country. The production of tires has been established with Tatneft, and components for trucks [are produced] with Kamaz," he said.
Over 20,000 companies with Russian capital operate in Kazakhstan now, the Kazakh leader added. "This isn't just a figure, but a tangible result of a mutually beneficial partnership," thanks to which jobs are created, modern technologies are transferred, and ties between people are strengthened, he said. "The governments of the two countries have been tasked with bringing new, primarily high-tech industries that will drive the future economy, to the forefront of our partnership," the president concluded.
In 2024, the volume of mutual trade turnover exceeded $28 bln. As per the Bureau of National Statistics of the Republic of Kazakhstan, from January to August of this year, Russia became the republic's main trading partner for imports, and it is also in third place for exports from Kazakhstan.
Tokayev’s state visit to Russia will take place on November 11-12.