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Putin says Russia, Kazakhstan to expand use of national currencies

The Russian President noted that about 6,000 business enterprises with Russian capital are operating in various regions of Kazakhstan

ASTANA, November 9. /TASS/. Russia and Kazakhstan are increasing the use of their respective national currencies in bilateral trade settlements, Russian President Vladimir Putin said at the plenary session of the XIX Russia-Kazakhstan Interregional Cooperation Forum in Astana.

"In January-August 2023, bilateral trade increased by another 7%. At the same time, the use of national currencies in export-import transactions has grown significantly," the Russian leader said.

He recalled that Russia’s trade turnover with Kazakhstan increased by more than 10% in 2022. "According to our statistics, [to] $28.2 bln," Putin added.

"Russia is one of the largest investors in Kazakhstan's economy. The total volume of Russian capital investment is a little less, a little more modest [than the trade turnover]. According to our estimates, a little more than 17 bln [dollars]. But, in principle, this is a good figure and a good trend. Kazakhstan's [capital investment] in Russia, according to our data, is 4.6 bln dollars," the Russian leader pointed out.

He also noted that about 6,000 business enterprises with Russian capital are operating in various regions of Kazakhstan, and the total value of joint projects being implemented and planned for implementation is estimated at $36.5 bln. "[This represents] such an impressive figure for our economies," Putin emphasized.

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Foreign policy Vladimir Putin Kazakhstan

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