Kazakhstan-Russia Trade Turnover Hits $27 Billion USD Over Last Decade

The trade turnover between Kazakhstan and Russia has totaled 27.7 billion US dollars over the past 10 years.

Speaking to an expanded meeting of the Russia-Kazakhstan Business Council in Moscow, Chairman of the Russian Commerce and Industry Chamber Sergey Katyrin said that around 80 Russian regions have established cooperation with Kazakhstan, The Caspian Post reports, citing Kazinform.

There has been positive dynamics in mutual trade turnover, which could reach 30 billion US dollars in the years ahead, said Katyrin.

In turn, Murat Karimssakov, chairman of the Foreign Trade Chamber of Kazakhstan said that cooperation between the two countries demonstrates growth.

Russia accounts for almost 20% of the total foreign trade of Kazakhstan, he said.

According to Kazakh ambassador to Russia Dauren Abayev, the mutual trade between Kazakhstan and Russia doubled to 27.7 billion US dollars in the past 10 years.

There are over 23,000 companies involving Russia in Kazakhstan. 171 projects worth 52.9 billion US dollars are under implementation as part of industrial cooperation. 13 economic zones with their own focused specialization have been established in the country, said the Kazakh ambassador.