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Trade turnover between Kazakhstan, Russia may reach $18B

28 September 2018 11:47

ASTANA. KAZINFORM - Trade turnover between Kazakhstan and Russia may reach $18 billion by the end of 2018, Trade Representative of the Russian Federation in the Republic of Kazakhstan Alexander Yakovlev said, the website of the Embassy of Kazakhstan in Russia reported, reports.

"Russia annually invests more than $1 billion in the economy of Kazakhstan. Today, more than 100 investment projects of Russian companies are being implemented or are being prepared for implementation in the territory of Kazakhstan. So, the trade turnover between our countries is growing. While in 2017 it reached $16 billion, the figure will amount to $18 billion by the end of this year, according to our forecasts, that is, the expected growth is $2 billion," the trade representative said on the sidelines of the 26th Kazakhstan international conference, Oil and Gas - KIOGE 2018.

"We expect that the trade turnover between our countries will amount to $24-24.5 billion by the end of 2020."

He noted that in the Russian-Kazakh trade turnover, in particular in the oil and gas industry, the leading place - about 22 percent - is occupied by machinery with high added value.

Yakovlev noted that more than 2,000 Russian companies visit Kazakhstan a year.

"Today at KIOGE 2018, where 550 foreign companies are participating, Russia is represented by more than 100 companies," he noted.

Speaking about the prospects of the Kazakh-Russian economic cooperation, the trade representative noted that Russian companies are particularly interested in active cooperation in mechanical and technical equipment and nuclear industry.