Kazakhstan and Russia are maintaining a confident path towards further strengthening of cooperation

Kazakhstan and Russia are maintaining a confident path towards further strengthening of cooperation. Today, relations between the two countries are considered exemplary. Kazakhstan and Russia are connected in almost all areas - economy, politics, education, medicine and culture. The largest commodity turnover of all the countries of the Eurasian Economic Union accounts for Russia. In 2017 alone, sales amounted to US$16 billion.


 - In the first half of 2018, we see the double-digit growth by more than 10% comparing to the same period of last year. In many respects, this is achieved not only due to fuel and energy resources, but also due to a growing role of other sectors of the economy. For example, we see that the share of the machinery equipment exported from Russia to Kazakhstan has already reached 25%. This is the leading export now.

Russia's share in Kazakhstan’s foreign trade turnover amounted to nearly 21%. The country ranks first in terms of exports of goods to Kazakhstan and fourth in terms of imports of Kazakh products. The Russian economists point out that quantitative indicators are not just growing, the structure of trade is also changing qualitatively.


 - By the end of this year, our mutual trade turnover will reach US$18 billion. This is quite a serious figure. Of course, it can grow further, but if we compare this figure and this volume with those Russian partners that are larger in size than Kazakhstan, sometimes this figure is lower, even several times lower.

According to forecasts of the Russian economists, the trade turnover between Kazakhstan and Russia will be estimated at US$24 billion by 2020.