Russia–Kazakhstan Meeting: New Areas of Cooperation

Advisor to the Russian President and Executive Secretary of the St. Petersburg International Economic Forum’s Organizing Committee Anton Kobyakov held a meeting with First Deputy Chief of Staff of the Kazakh President Timur Suleymenov during which they discussed business cooperation, joint investment projects, as well as Kazakhstan’s participation in key business events taking place in Russia.

«I am certain that Russian-Kazakh cooperation will continue to expand. One of the landmark projects that aims to develop trade and economic relations is the North-South international transport corridor, part of which passes through the territory of Kazakhstan. Russia is interested in expanding the economic space of trust and developing mutually beneficial cooperation with partner countries,» Kobyakov said.

The two officials discussed interaction between Russian and Kazakh businesses and noted that both countries fully support the development of trade and economic relations, as evidenced by growth in trade between the countries. «Our countries have similar legal and tax systems, which helps to develop joint projects and increase trade. Total Russian investments in Kazakhstan amount to USD 17 billion, while Kazakh investments in Russia stand at USD 4.6 billion. Russian business is widely represented in our country’s economy. In addition, more than 70% of our mutual settlements are made in roubles, which makes our cooperation significantly less dependent on fluctuations on the foreign exchange market,» Suleymenov said.

They also discussed the possibility of a Kazakh delegation taking part in the events of the 25th St. Petersburg International Economic Forum in 2022.

«As has been noted on more than one occasion, including during Kazakh President Kassym-Jomart Tokayev’s visit in February, our countries are traditionally bound by truly strong strategic ties. The Forum’s platform will serve as a catalyst for further building these ties and an accelerator for cooperation,» Suleymenov said.

Suleymenov also confirmed that a Kazakh delegation plans to take part in the Eastern Economic Forum. In addition, active preparations are under way for the Russia—Kazakhstan Interregional Cooperation Forum, which will be attended by the presidents of both countries and will address such issues as the lifting of infrastructure restrictions on international trade.