Kazakhstan expects its trade turnover with Russia to reach $30 billion by the end of 2026, reflecting growing economic cooperation and expanding investment ties between the two neighboring countries.

The forecast was announced by Kazakhstan's Deputy Prime Minister and Minister of National Economy, Serik Zhumangarin, during the Kazakhstan-Russia Interregional Cooperation Forum in Omsk, The Caspian Post reports via TASS.

"We see the possibility of fulfilling your instruction to achieve the target trade turnover of $30 billion by the end of this year," Zhumangarin said while addressing Kazakh President Kassym-Jomart Tokayev and Russian President Vladimir Putin.

The minister noted that trade and economic cooperation continues to strengthen, with mutual investment steadily increasing. More than 22,600 companies with Russian participation are currently operating in Kazakhstan, accounting for nearly one-third of all foreign-capital enterprises in the country. Over the past two decades, Russian investors have invested approximately $30 billion in Kazakhstan's economy.

Zhumangarin added that bilateral cooperation has received a further boost from the 2026-2030 Comprehensive Economic Cooperation Program, signed during President Tokayev's state visit to Russia in November last year. Kazakhstan views the agreement as a long-term framework for expanding collaboration in industry, transport, energy, agriculture, and the digital economy.