Continuing a positive trend in trade is one of the main objectives of the two-way interaction between Russia and Kazakhstan in 2024. As a result of last year, Russia ranked second after China with a trade of $28.5 billion. Imports increased by 19.8 per cent through the supply of machinery, equipment and vehicles. Russia is increasing the supply to Kazakhstan of metals and articles from Kazakhstan to Russia, increasing imports of metals, food products and agricultural products.

The Deputy Minister for Economic Development of Russia, Dmitri Volvac, spoke at the 22nd meeting of the Commission for Cooperation between the Federation Council of the Federal Assembly of Russia and the Senate of the Parliament of Kazakhstan, which was co-chaired by the First Vice-President of the FSF, Andreya Yatskin, and Vice-President of the Senate of the Parliament of the Republic of Kazakhstan, Jaquipa Asanova.

" The bilateral investment cooperation between Russia and Kazakhstan is actively developing. As a result of last year, Russia ranked second in gross investment flows to Kazakhstan, bringing data from Dmitri Volvac. - In the first quarter of 2024, the amount was approximately $809 million. Russia ' s share of gross investment in Kazakhstan increased to 14.2 per cent. Kazakhstan now has more than 23.5 thousand Russian companies and more than 5,000 joint ventures. "

Tourism cooperation is being developed. " Kazakhstan remains a key partner in tourism and occupies three places most frequently visited by our citizens last year, said by Dmitri Volvac. - In 2023, the total tourist flow from Kazakhstan to Russia was more than 2.1 million trips, and the flow from Russia to Kazakhstan was 2.7 million trips.

The Deputy Minister highlighted interregional cooperation. Joint projects on the production of road tyres, the production of iron lithium and major bridges in Costana continue. A joint chemical cluster is being established in Kazakhstan in the Free Economic Zone of Palestine, and 2 plants have begun to produce thermal insulation materials.

Russia ' s largest companies cooperate in Kazakhstan on mining, major energy generation, transport and manufacturing projects.

" To date, more than 60 agreements have been concluded among the regions of the two countries in trade, economic, scientific, technical, social and cultural cooperation, as noted by Dmitri Volvac. One of the most effective forms of interregional cooperation is the Forum on Interregional Cooperation between Russia and Kazakhstan.”

At the end of November, a 20th anniversary forum will be held in Ufah on the realization of the potential of trade and economic cooperation between the two countries. The programme is scheduled to hold three panel sessions, a forum for youth leaders of Russia and Kazakhstan, a business contacts exchange and a joint meeting of business councils.

Source: www.economy.com

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