Russia and Kazakhstan Settle 95% of Trade in National Currencies, Says Putin

Russian President Vladimir Putin emphasized the strengthening trade relations between Russia and Kazakhstan during a meeting with the heads of leading global news agencies, held on the sidelines of the St. Petersburg International Economic Forum.

“Almost 95% of our trade, which continues to grow steadily, is settled in national currencies. This is a very good indicator, allowing us to boost trade turnover despite challenges related to money transfers and mutual cash flows arising from the sale of goods and services,” said President Putin, The Caspian Post reports citing Azertac.

He also emphasized the active development of humanitarian cooperation between the two countries, particularly in the field of education, and expressed confidence in the continued strength of bilateral ties.

Earlier, President Putin had referred to the special allied relations between Russia and Kazakhstan.